LiquidX Launches Strategic Product InBlock
August 06 2020 - 10:15AM
LiquidX, the global network for working capital, trade finance, and
insurance, has announced the launch of their product InBlock and
the expansion of their closed network through strategic partner
Flex (Nasdaq: FLEX), a global provider of electronic manufacturing,
design, and engineering services. Flex has been a pilot customer of
InBlock since 2019. This expansion includes the onboarding of two
additional Flex distributors to LiquidX’s InBlock closed network.
InBlock is a business-to-business asset digitization network for
trade finance and insurance. InBlock leverages leading blockchain
technologies to create a private permissioned workflow engine
integrated with machine learning, smart contracts and APIs.
“The corporate finance workflow has long been expensive,
time-consuming, and inefficient,” said Jim Toffey, CEO of LiquidX.
“We’ve spent the last two years building state-of-the-art
technology tools for Treasurers that turns a manual, resource
intensive asset such as an invoice into a digital asset that can be
serviced in one solution. InBlock yields an ROI of 3-5x by
providing real time visibility to the digital asset, which yields
improved decision making for cash forecasting and working capital
management.”
“By onboarding onto InBlock, Suppliers are able to digitally
transact from Order to Invoice to Cash,” noted Kristen Michaud who
is responsible for the Corporate offering of InBlock. “InBlock
yields substantial benefits for all parties by digitally recording
the actions taken against the asset and carrying these into the
cash forecasting model. InBlock connects into monetization
platforms including LiquidX 360, which take a non-revenue
generating asset and turn it into cash for improved working
capital.”
When applied across a company’s cash operations, InBlock
provides access to trusted cash flow data which improves the
accuracy of the forecast, enabling Corporates to reduce their
liquidity buffers through more complete visibility to their cash
positions. InBlock also increases efficiency through the
elimination of single-use platforms, excel spreadsheets, and emails
to manage a company’s order to cash process, digitally connecting
the supplier and customer into one platform across A/R and A/P
flows.
About InBlock:
InBlock is a digital asset servicing platform for corporations,
banks, and insurance companies. InBlock empowers the Corporate
Treasurer with a holistic solution designed to support all
corporate assets including Invoices and Purchase Orders. InBlock
offers Order Management, Invoice Management, Reconciliation and
Cash Forecasting in one integrated solution. To learn more about
the InBlock advantage, please visit www.inblock.com.
About LiquidX LiquidX is a leading global
technology company which enables corporate finance professionals to
transact faster, smarter and cheaper by digitizing their trade
finance and working capital management. Headquartered in New York
with offices in Boston, London, and Singapore, LiquidX delivers the
industry-leading ecosystem for working capital assets to its
diverse network of global participants including multinational
corporations, banks, institutional investors, and insurance
providers. LiquidX incorporates blockchain technology and machine
learning analytics to greatly enhance transparency, reporting, and
forecasting for financial professionals. To learn more about our
industry leading solutions please visit www.liquidx.com
Campbell Peters +1 (347) 859-8068 cpeters@liquidx.com
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