SOURCE: GT Nexus, Inc.

GT Nexus, Inc.

June 11, 2013 20:00 ET

EOS Hong Kong Partners With GT Nexus to Deliver Financial Services in the Cloud

Manufacturers & Suppliers in Hong Kong Will Benefit From Fast Approvals for Trade Financing and Rapid Access to Capital

HONG KONG--(Marketwired - Jun 11, 2013) - GT Nexus announced today that EOS Hong Kong, provider of risk and receivables management solutions for manufacturers and suppliers, has signed on to the GT Nexus network to deliver access to trade financing for customers in the Hong Kong region. EOS Hong Kong will leverage the cloud-based platform to deliver trade financing to support international trade flows originating in Hong Kong. EOS Hong Kong will provide direct access to financing for users of the Trade Xpress solution, a cloud-based tool offered by GT Nexus to help manufacturers and suppliers manage their orders, factories and transactions in a single dashboard.

The announcement comes as exporters face significant liquidity challenges stemming from an unstable global economy and tighter credit policies from banks. Businesses continue to struggle to find timely and reliable cash flow solutions.

GT Nexus introduces cloud-based infrastructure, automated workflow and transaction visibility into the trade financing process to enable suppliers to quickly access financing and get faster access to capital. The cloud model gives EOS visibility into trading partners to help them make better decisions in less time. This benefits everyone in the supply chain.

EOS Hong Kong is part of EOS Group, one of Europe's market leaders for non-banking financial services. With more than 9,000 employees and 51 subsidiaries in 27 countries, EOS Hong Kong's services range from export factoring to risk information on overseas companies.

"The power of GT Nexus resides in the network -- the interconnecting of companies like EOS Hong Kong to thousands of trading partners," said Sean Feeney, CEO of GT Nexus. "Our customers in Hong Kong will instantly benefit from having a new option for freeing up capital from their receivables. EOS Hong Kong will be built directly into the GT Nexus transaction flow, making the trade financing process faster and more convenient for both EOS Hong Kong and our customers."

EOS Hong Kong's factoring services delivered through GT Nexus offer a viable alternative source of cash flow and financial services by providing:

  • Competitive terms and rates
  • Simple cloud-based operational procedure
  • 100% credit risk protection
  • Access to capital without guarantees or required collateral
  • No limitations on number of buyers being factored
  • No impact on existing bank facilities

EOS Hong Kong will deliver services to GT Nexus customers servicing buyers in local Hong Kong, mainland China, and overseas.

Exporters can look forward to a quicker financial solution through the timeless operation of the GT Nexus platform. This only strengthens the market penetration and relationships with customers. The instant connectivity and communication with clients and their buyer customers raises data transparency. As a result, EOS will have a better handle on risk.

About GT Nexus
GT Nexus operates the world's largest cloud-based business network and execution platform for global trade and supply chain management. Over 25,000 businesses across industry verticals, including adidas Group, Caterpillar, Citi, Columbia Sportswear, DHL, Electrolux, Levi Strauss & Co., Kohl's, Nestlé, Pfizer, Renault, and Sears share GT Nexus as their standard, multi-enterprise collaboration platform. This enables all network participants to operate against a core, real-time and always on set of information across multiple supply chain functions, allowing them to optimize the flow of goods, funds and trade information, from the point of order through final payment. For more information please visit us at www.gtnexus.com.

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