Problems we help to solve

Digitising and automating supply chain transactions and payments

How can I stop transactions taking too long to approve, pay and reconcile?

If these problems sound familiar:

  • Slow processing has an impact on cash flow, for you and your suppliers.
  • It creates delays across the business, getting access to or providing finance to suppliers.
  • Speed has an impact on production and flow of goods.
  • It means less opportunity for early payment discounts if self-funding
  • Simple issues or changes mean manual intervention, adding cost and risk to transactions

We have the solution:

The speed of your P2P processes may be physically slowing your business down and preventing you from achieving key objectives.

Integrating seamlessly with your current ERP, Marco Polo will drive your business forward, faster and with more accuracy. Give more time back to your business.

  • We accelerate data exchange, matching and approvals, resolutions, and payments
  • We can also enable earlier payment options to suppliers of all sizes
  • And we improve visibility to enable more accurate forecasting and faster decisions

Find out more about:

How can I improve how I transact with my suppliers, without disrupting our existing systems?

If these problems sound familiar:

  • Our business has several versions of ERP with heavy customization
  • Our technology is complex, we have customized internal systems and external portals
  • Suppliers find our portals hard to use, but our business is scared of change
  • We’re worried about technology change – supply chains are already at breaking point
  • We have limited budget for large IT investment

We have the solution:

If you want to improve how you connect to, transact with and pay your suppliers, you don’t need to change your whole ERP.

Working with your existing systems and processes, Marco Polo Network provides a suite of Open APIs, out-of-the-box connectors and a modern, simple, easy-to-use application. The result is a more efficient and transparent relationship with suppliers, without disrupting your own systems.

  • APIs connect Marco Polo to your existing systems and processes with minimal change
  • Data used in Marco Polo (AR / AP) are standard ERP data models, not customized
  • Suppliers can connect in a way that works for them, depending on their systems
  • Self-service tools and in-app chat support mean fewer manual interventions from you

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How can I ensure all suppliers – even the smallest SMEs – see us as the partner of choice?

If these problems sound familiar:

  • Solutions today do not cater for low and high-tech suppliers
  • Supplier portals are outdated and complex – creating friction and unhappy suppliers
  • Suppliers find our portals hard to use, but our business is scared of change
  • Onboarding is a lengthy process taking weeks or months
  • Financing/early payment is not available to those who need it most
  • SMEs struggle to handle changing compliance and governance issues.

We have the solution:

Give your suppliers the best possible experience. Help to attract and retain suppliers, minimizing supplier turnover and the associated costs.

Built with SMEs in mind, Marco Polo Network provides all suppliers with access to low-cost financing and self-serve tools such as transaction matching, discrepancy handling, payments reconciliation – providing genuine business value and improving relationships.

  • A friendly experience that’s designed with and for suppliers of all sizes, in particular SMEs
  • Early payment options for all suppliers
  • Rules-based processing that builds confidence around compliance and governance.
  • Visibility – complete transparency – that instills confidence for you and your suppliers.
  • Multiple options to connect depending on a supplier’s level of technology sophistication
  • Self-service tools and in-app chat support

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Reducing cost and risk across the supply chain

How can I mitigate suppliers’ increasing costs and overall supply chain risks?

If these problems sound familiar:

  • Global supply chains are being impacted by world events.
  • Suppliers are experiencing liquidity constraints, staff shortages and higher production costs.
  • Your ability to forecast accurately is hindered by these problems.
  • Increasing supply chain cost and risk continues to put pressure on the business

We have the solution:

Leverage your strength to support your entire supplier network. Make informed decisions in real time.

Marco Polo Network provides suppliers with access to the low-cost capital, and all the in-built transaction management tools you need to forecast more accurately, reduce risk and lower cost.

  • Give suppliers access to low-cost early payment, reducing risk in the supply chain.
  • Leverage your strength to help boost SME supplier resilience.
  • Improve visibility to enable all parties to more accurately forecast
  • Foster relationships, improve forecasting, reduce your working capital needs.

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How do I do more with less, without compromising on security or quality?

If these problems sound familiar:

  • You’ve reduced admin costs as much as possible and can’t see a way to deliver even more efficiency within A/P and procurement
  • Supplier admin isn’t reducing – if anything, compliance is increasing the complexity.
  • Miss-matches … exception handling … payment management … all takes time and resource.
  • You worry that more pressure, fewer people and/or outdated systems will lead to major errors or critical security breaches

We have the solution:

We use modern technology, built on blockchain, to digitize and automate transactions and payments. This lets you speed up your processing time and improve accuracy while lowering your cost and risk. Blockchain provides unparalleled security. It gives you full control of your data.

Digitize data exchange and matching. Increase visibility and accountability, reduce remittance costs, accelerate payments, and reduce workloads for finance, A/P and procurement teams.

  • Rules based AP/AR automation that significantly reduces risks, time, and costs.
  • Self-service functions to push more responsibility back to the suppliers
  • Suppliers can connect in a way that works for them, depending on their systems
  • Use of smart contracts and automated matching that eliminate human error.
  • Suppliers can integrate with their own systems, while retaining visibility for you.

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Optimising cash flow and working capital

How can I offer all my suppliers the same early payment option?

If these problems sound familiar:

  • Your current SCF program is only available to large suppliers
  • The same benefits are not extended to smaller suppliers
  • The suppliers who need liquidity the most are forced to use expensive alternatives
  • Increased supplier working capital costs are being passed on to me

We have the solution:

Marco Polo Network delivers supplier inclusivity by ensuring all suppliers – even the smallest SMEs – can get access to early payment through a simple to use supplier experience.

Extend the benefits of supply chain financing to your entire supply chain.

  • Early payment option to all suppliers
  • Complement, not replace, your existing early payment solutions
  • Frictionless onboarding
  • Dynamic discounting (buyer funded option)
  • Sustainability linked financing incentives

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Contribute to the ESG/CSR agenda

How can I help suppliers make progress against our ESG / CSR goals?

If these problems sound familiar:

  • Unwillingness to engage with ESG objectives
  • Knock-on effect – preventing you from achieving ESG aims
  • Lack of visibility around ESG measurements
  • Suppliers simply can’t afford to make ESG-focused changes

We have the solution:

Some suppliers see the ESG agenda as key to their own growth strategy, but many smaller SMEs seem unable to prioritise sustainability, the environment, or governance objectives.

Marco Polo Network provides the tools to easily monitor and incentivize ESG compliance. It does this through connectivity to independent ESG ratings providers, sustainability linked financing and a more inclusive solution.

  • Integrate independent supplier ESG ratings into the monitoring of your supply chain transactions
  • Drive behavioral changes by linking early payment incentives to ESG metrics
  • Access low-cost capital, enable more ‘affordability’ for suppliers to comply with KPIs
  • Remove significant paper from the workflow through digitization and automation

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How do I meet diversity and inclusion targets without compromise?

If these problems sound familiar:

  • High turnover increases costs of sourcing, training, and onboarding.
  • Churn impacts your ability to focus on diversity and inclusion.
  • Suppliers do not feel appreciated or valued for their diversity.

We have the solution:

Good quality suppliers are in high demand and often have a choice. Poor experiences and lack of financial support will impact supplier retention and related KPIs.

Marco Polo Network enables you to put the supplier first – focusing on supplier inclusivity, value, and experience. This delivers stronger, happier relationships right across the supply chain.

  • Change the way you’re transacting with SMEs – become more accessible
  • Reduce your costs, become more efficient – and then focus on inclusivity.
  • By accessing low-cost capital, you also become the ‘low-cost customer’.
  • Reduced administrative costs can be passed on through the supply chain.

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Take advantage of blockchain technology

There’s a lot of noise about blockchain, could it help transform our supply chain?

If these problems sound familiar:

  • My legacy systems were built when data provenance, privacy, security, residency, portability and control were not the problem, but they are today
  • Working with technology vendors may drive efficiency but it means sending sensitive data externally and outside my control – I’m not fully comfortable with this

We have the solution:

Legacy technology solutions delivered growth and efficiencies but compromised on data privacy and security. Blockchain is the only way to achieve it all together – efficiency, privacy, security.

Marco Polo Network is a fully decentralized blockchain network. Participants interact on a private and permissioned basis. This provides unparalleled data control, privacy and security – while also delivering efficiency, scalability and immutability.

  • DLT-enabled, distributed networks power the new digitised supply chain.
  • No single point of failure or vulnerability
  • Highest protection of data and privacy
  • Connect once to many

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Step through the process

01

Connect &
configure

02

View & approve PO

04

Match invoice

06

View approvals

03

Present invoice

05

Resolve issues

07

Early payment

08

Payments & reconciliation

01 Connect & configure

  • Connect direct to your ERP for data synchronization and reconciliation
  • Suppliers connect direct to their accounting package for invoice presentation and payment reconciliation
  • Manage transaction rules, matching criteria, smart contracts, tolerances, permissions, reporting for each supplier or groups of suppliers
  • Suppliers manage their own data within their Digital Passport – bank accounts, entity documentation, user access and permissions
Play Video

02 View & approve PO

  • Buyer and Seller exchange and review purchase orders / contracts
  • Approve, reject and/or change management
  • All data is exchange on a permissioned and peer-to-peer basis
  • Invoices presented direct from accounting package, captured as an image or batch upload using template – see next step
Play Video

03 Present invoice

  • Flexible invoice presentation options:
  • Submit invoices directly from your accounting package
  • Upload an image to auto-convert to data for review
  • Batch upload invoices using our file templates
  • Invoices matched to orders – see next step
Play Video

04 Match invoice

  • Invoices are immediately matched against purchase order and contract terms
  • Match is at header and line-item level
  • Mismatches are immediately presented back to Supplier
  • Issues resolved online – see next step
Play Video

05 Resolve issues

  • Mismatches are immediately visible to Supplier
  • Mismatches can be resolved in two ways:
  • Through an updated invoice, if data was incorrectly presented and can be corrected
  • Supplier can send a comment and request the Buyer to review and approve
  • Mismatches are identified and resolved at line-item level
Play Video

06 View approvals

  • Transaction statuses are available in real-time for both parties
  • Both parties can easily see invoices with a perfect match and those invoices where a mismatch was approved or rejected
  • Credit memos are applied to invoices and visible to all parties
  • Matched or approved invoices are available for early payment at Supplier’s discretion – see next step
Play Video

07 Early payment

  • Early payment is immediately available once an invoice is matched or approved
  • A Supplier can opt to collect the full value of an invoice at any time, less a small discount
Play Video

08 Payments and reconciliation

  • Payment instructions are auto-generated by the Buyer’s Marco Polo platform and securely delivered to paying bank
  • Payment statuses are available in real-time for both parties
  • A Supplier can easily see when incoming payments have been sent and received with all relevant remittance details
  • The Supplier App can be used to identify the payments and their corresponding invoices to apply cash in the accounting system and settle the transaction

How does Marco Polo Network work?

Marco Polo Network combines four specialisms you won’t find anywhere else in P2P solutions or supply chain financing.

Individually, they’re powerful. Together, they’re unique and allow us to deliver the technical know-how to transform supply chain transactions.

See it in action

View our selection of short videos showing how Marco Polo works.

Explore the Resource Library

View the full list of resources describing how Marco Polo works for large, complex supply chains – helping you to reduce costs and risks, and increase efficiency.

Whitepapers

View our selection of Whitepapers.

Technical Whitepaper:

Technology innovations driving transformation

Commercial Whitepaper:

Evolution from Supply Chain Finance to Supplier Payments

Commercial Whitepaper:

Open Account Automation and B2B Payments