Supply chain automation platforms gain momentum

India-based developer Terainium has partnered with app developer Productfy to provide financial services on its TeraBiz cloud platform such as enterprise spend management, AML and supply chain payment solutions. TeraBiz is a FinTech SaaS platform developed by Terainium, LLC.

In this platform, businesses can digitize their supply chain transactions, automate Accounts Payable and Accounts Receivables while Productfy is a technology which lets businesses launch fintech applications such as KYC, data integration, card issuance, money transfer, depository accounts and financial ledgering.

This month, Barclaycard also launched its solution, Barclaycard Payment Intelligence (BPI), which is a data analytics platform related to supply chains,     and in other news, Finverity had teamed up with Ebury to provide supply chain finance solutions in the emerging markets.

“TERA Cloud helps businesses automate their entire supply chain transactions and offers one easy place to control, manage and track the organization’s spending in the cloud,” Terainium Founder and CEO Madhu Tera said in the announcement. “We are building several key strategic partnerships and our partnership with Productfy helps us extend our TERA Cloud offering to US and Canadian businesses.”

Businesses using TERA cloud are able to automate their payables and receivables and also bring supply chain transactions online. The platform also helps businesses to reduce their expenses and automate their enterprise expenditure.