Q&A Series Question 1 – Banks and Factors – Which to Choose?
What do banks and lenders look for when adopting a supply chain finance solution?
Supply Chain Finance (SCF) is truly a program, and like any program, it takes some time to get going. Once the initial vetting is over – the bank or lender has demoed the software and is comfortable that it is a high-quality product – a product that will serve both the lenders’ clients and their clients’ suppliers well, I believe banks and lenders look for a partner that they know will help them sell and scale their program effectively and responsibly.
Though SCF is an established product for the Fortune 500, SCF is relatively novel for the small and middle market. ArtisPay is a new product and an innovative product, as we spend a great deal of time educating our clients and helping them with marketing, positioning and other strategies. Most notably, ArtisPay is an adaptive product – we are learning too, we work with our clients to ensure we are meeting their needs as more and more clients, industries and suppliers are on the platform. I think, ultimately, banks and lenders look for a partner they can trust and foresee growing business with for the long-term.
A founder of Artis Trade Systems, Jamie Clemons, CPA, started his career working in business risk consulting at Protiviti after attending the University of Arizona on an academic scholarship where he graduated Summa Cum Laude with dual degrees in Finance and Accounting. During his time in consulting, Jamie served clients in various industries including Airline, Banking, Software, Pharmaceutical, and Education among others.