Technology specific to the financial and banking industries.
Companies used to offer working capital or (supply chain finance) programs to their suppliers primarily in conjunction with a single bank. That was great for the bank, of course, because it allowed the bank to set the terms of the working capital program, to tie the company into a close, long-term relationship, and to gain maximum benefit from lending money to the company’s suppliers while only taking on the credit risk associated with the company itself. The company in question would, of course, usually be a multinational, large or mid-market business with a good credit rating.
Headquartered in Saudi Arabia, The Zahid Group is a leader in industrial engineering that has several subsidiaries, including their flagship company Zahid Tractor. For more than 60 years, Zahid Tractor has distributed Caterpillar machinery and equipment to the Kingdom of Saudi Arabia in both private and public sectors. Expanding growth and a demand for optimization of cash led the Zahid Group to search for a modern treasury and risk management solution (TMS).
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