Bank of America has rolled out its online supply chain finance module on Trade Pro, which offers businesses to manage risk while releasing working capital, modernizing business processes and reducing the costs associated with supply chain management.
BofA global trade and supply chain finance head Bruce Proctor said, "The new module will help our buyer clients and their suppliers efficiently manage their cash flow by allowing faster access to funds and information, which will ultimately assist them in optimizing their working capital."
The tool is equipped with upgraded user interface, enabling immediate access to critical supply chain finance data that will help companies in decision making and auditing.
The module, which is available in nine languages, enables suppliers to create dynamic reports on a scheduled or ad hoc basis, through its robust online reporting capacity, claims BofA.
Bank of America serves nearly 56 million consumer and small business relationships with almost 5,600 retail banking offices and about 16,200 ATMs and also has 30 million online banking active users.