TASConnect Launches Working Capital Solutions To Boost International Trade In India

TASConnect, a Singapore-based working capital solutions software-as-a-service platform, has launched its services in India to enhance international trade in the country.

Through its SaaS offerings, TASConnect aims to deliver efficiencies and economics in working capital management by enhancing scalability, visibility and cross-border connectivity for domestic and multinational corporations, the company said.

TASConnect said it plans to expand its global technology hub in Bengaluru to develop solutions tailored to subsidiaries of MNCs and large domestic enterprises. The platform also plans to onboard foreign and domestic financial institutions and establish partnerships with technology hyperscalers.

Convergence-As-A-Service

TASConnect builds convergent platforms for suppliers, buyers and financial institution ecosystems of enterprises by digitally bridging treasury organisations to their global value chains.

The company said that the platform will enable Indian enterprises to expand their procurement and exports to cross-border suppliers and buyers, access more working capital financing programmes, gain better visibility and control of their supply chain financial health and achieve better cash conversion cycles.

Interoperability

The company’s universal adapter solution enables integration of multiple front and back-end systems, connecting diverse ecosystems such as clients, suppliers, buyers and financiers.

According to TASConnect, this will allow organisations to run multi-bank financing programs using a single interface, improve working capital liquidity, digitise and automate enterprise treasury workflows using analytics and business and financial insights, and co-create ESG-linked solutions with enterprises.

“Our treasury automation and digital working capital solutions will empower enterprises to unleash greater efficiencies in managing their ecosystems along with enriched business intelligence through AI-led predictive analytics,” said Kingshuk Ghoshal, chief executive officer, TASConnect.

Focus On Indian Market

TASConnect is focusing on key growth pillars within the Indian economy, such as manufacturing, automotive, fast-moving consumer goods, retail, healthcare, logistics and their sub-industries.

According to India’s Ministry of Commerce and Industry, merchandise exports have reached their highest-ever value annually at $447.46 billion, with 6.03% growth from 2022 to 2023. Service exports are projected to reach an annual value of $322.72 billion, making India a focus market for TASConnect.

Aditya Sharma, head of markets and financial institutions, TASConnect, said, “With scalable solutions from our platform and facilitation of deeper integration with global trade, our goal is to rank amongst the top three working capital finance platforms for cross-border trade in India.”