Tharisa Minerals partners with TreasuryONE and Investec Bank to implement a Supply Chain Finance programme

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Tharisa Minerals, an integrated resource group engaged in the exploration, mining, processing, and logistics of platinum group metals and chrome concentrates, has partnered with TreasuryONE and Investec Bank to implement a supply chain finance programme.

The Investec supply chain finance programme, powered by TreasuryONE, helps businesses to strengthen their relationships with buyers and suppliers while optimising their cash flow and working capital management. The programme enables buyers to obtain cost-effective and efficient payment terms with suppliers and, at the same time, provides suppliers with a mechanism to receive early settlement on invoices – important considerations in these turbulent times.

The programme has no upfront fees or costs. Instead, suppliers are provided with the cashflow benefits of their receivables on the same working day, following invoice approval, at rates not usually available to the supplier by traditional bank lines or factoring.

Peter Rattey, head of Supply Chain Finance at Investec, says the Tharisa Minerals case is an excellent example of how the Investec Supply Chain Finance programme can benefit its business.

“The Investec Supply Chain Finance programme helps Tharisa Minerals to strengthen its relationships with suppliers, provides the technology to automate, streamline and integrate processes and allows for the efficient structuring of monthly creditors payments.”

“For suppliers, it improves the liquidity and certainty of cash flow and enhances flexibility with the choice of automatic or manual settlement. It’s also an easy, admin-light process with simple onboarding requirements and there is no requirement for suppliers to fill credit lines.”

 

The programme can be broken down into six easy steps:

  1. Suppliers’ invoices are submitted to Tharisa Minerals in accordance with standard business processes.
  2. Invoices go through the same approval process within Tharisa Minerals, and only then approved invoices are integrated into the Supply Chain Finance System through the ERP.
  3. Suppliers are then notified of all approved invoices as soon as they have become available on the supply chain finance system for early settlement.
  4. By logging into the supply chain finance system, suppliers are able to select the invoices they would like to receive early payment on.
  5. Once invoices are selected, and payment instructions are generated, Investec Bank completes the final settlement to suppliers.
  6. The final step will be for Tharisa Minerals to repay Investec Bank as per the original invoice date.

 

Hennie de Klerk, Founder and CEO at TreauryONE, commented,

“Every organisation and supplier base is unique. As a result, your supply chain finance program, as well as its goals, requirements, and underlying principles for programme execution, will be unique.”

 

“Complex finance systems, various payment terms for multiple suppliers, and many other headaches that finance face necessitate a flexible supply chain finance provider and a similarly flexible and scalable program to their requirements. That is what the Investec Supply Chain Finance program, administrated by TreasuryONE, can provide.”
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