NEW YORK, Aug. 06, 2020 (GLOBE NEWSWIRE) — 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.
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.
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
+1 (347) 859-8068