05 Oct 2023 - Polaris, a venture build of GB Helios (previously known as Goldbell Financial Services), will be launching KRONOS - a digital supply chain financing programme to answer the increasing demand of suppliers to get paid faster and on flexible terms.
As businesses recover post-Covid, we noticed an increasing demand from suppliers to improve their cash flow to safeguard against any supply chain disruptions, political tensions, and economical or geopolitical volatility. At the same time, the digitalisation of businesses during the Covid period has opened up the opportunity for a seamless integration of KRONOS.
Factoring usually involves hours of manual work to verify the validity of the invoices which led to a high processing cost. Due to the high processing cost, suppliers usually have to fund their entire invoice portfolio.
However with KRONOS, now suppliers have the flexibility to fund any invoice, any invoice value, on a pay-per-use model.
KRONOS is expected to be launched in October. If you have any questions about KRONOS and how it can help you or your suppliers, please contact us at kronos-support@polaris-kin.sg.