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Blockchain Project


INVOICE DISCOUNTING

Invoice Discounting

Invoice discounting or invoice financing is an extremely powerful tool that businesses can use to increase their liquidity. Unfortunately, the process of providing such a credit is often too long. It’s cumbersome, unwieldy, costly and error strewn. To make things worse, usually only large invoices from well established companies are taken as collateral due to the massive amounts of work involved in checking each invoice and the scope for duplication and human error. The calculation of contras, debtor concentrations and dilution levels, all of which can have a significant effect on the amount of credit available, takes time, effort and incurs higher costs.

Our invoice discounting solution utilizes the power of Blockchain to enable businesses to upload their financial data on the chain and only share it with the entity they wish to show the data.

This enables Banks to quickly assess the risk and accordingly disburse the credit in a quick and efficient manner.

BLOCKCHAIN PROJECTS

At Somish, we established a Blockchain Centre of Excellence in 2016. Our team has continuously focused on using Blockchain to tackle key challenges of industries like BFSI, Agriculture, Aviation and Governments. Some of our other key Blockchain projects have been highlighted below.