Supply Chain Street, TREDX hold seminar on digital factoring marketplace
The Supply Chain Street (TSCS) and TREDX organised a seminar on the importance and future of the digital factoring marketplace.
The event was held at the ZUMS campus in Gulshan Avenue, Dhaka on 10 March, said a press release.
The aim of the seminar was to explore the world of digital factoring and how it can benefit respective organisations and businesses.
The programme was moderated by Mohammad Ashraful Islam Khan, co-founder, and president of TSCS and ASCPB, and facilitated by Abdul Mabud (Tushar), chief business officer of TREDX.
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During the seminar, finance and supply chain professionals, as well as suppliers from different industries, came together to gain a deeper understanding of the digital factoring process and its benefits.
Abdul Mabud (Tushar) said that digital factoring would have a significant impact on businesses by ensuring unlimited cash flow without any burden, as well as goods and services at a lower cost.
Khan, co-founder of TSCS, highlighted how digital factoring could help SMEs improve their cash flow, manage their working capital more efficiently, and reduce the risk of bad debt. This was particularly important in Bangladesh, where businesses face challenges such as limited access to traditional financing options, lack of collateral, and delays in payment processing.
According to the media release, as the first digital factoring platform in Bangladesh, TREDX aimed to bring financiers, corporates, and their suppliers onto a single platform to create a win-win-win value proposition. The programme associate partners were TREDX and The Supply Chain Street, with ZNRF University of Management Sciences as the knowledge partner, and The Business Standard as the media partner.
During the seminar, individuals with experience and expertise in various fields gathered to share their knowledge and insights with one another. The participants were from 40 distinct organisations, highlighting the diversity of the group and the breadth of industries represented.
Overall, the seminar provided an for participants to gain insights from experts in the field and learn about the benefits of digital factoring for their respective organisations and businesses.
