New York—Dec. 14, 2015—KPMG LLP, the U.S. audit, tax and advisory firm, and Taulia Inc., the financial supply chain company, announced a strategic alliance to help the world’s largest organizations transform their financial supply chains to realize savings and improve supplier relations.
A recent Taulia report found that 47 percent of suppliers are paid late, while, according to KPMG’s procurement survey, less than 30 percent of buyers offer a supply chain finance program. As a result, suppliers are waiting longer to be paid without an accessible early payment option.
"Jointly, our studies demonstrate the disconnect that exists in today’s financial supply chains and that effective supply chain management helps organizations accelerate corporate growth strategies, increase operational efficiency, and offer new and differentiated value to their suppliers," said Samir Khushalani, practice leader for KPMG’s supply chain and procurement in the Americas.
The alliance combines KPMG’s globally recognized supply chain and procurement transformation experience with Taulia’s suite of technology products to streamline the flow of financial information between buyers and suppliers. The resulting benefits for both buyers and suppliers include significant procure-to-pay operational efficiencies, comprehensive supply chain financing options and improved trading relationships across the supply chain.
Added Khushalani, “Taulia’s easy-to-use solution for supplier financing, supplier management and e-invoicing, paired with KPMG’s ability to understand the complexities of designing and managing supply chains, creates value and drives innovation for our shared clients.”
“After years of working side by side at some of the largest companies in the world, we saw huge upside potential for customers by formalizing our relationship with KPMG,” said Vikas Shah, Taulia’s vice president of ecosystem and partnerships. “Organizations can now combine our e-invoicing and supplier financing platform with KPMG’s experience in invoice-to-pay optimization, technology implementation services, supplier value enablement and onboarding, and supply chain financing strategy.”
Together, KPMG and Taulia will continue to help leading organizations connect with their suppliers to reduce supply chain inefficiencies and eliminate rogue costs in their procurement processes.
