Scanco and CoreChain Announce Integrated B2B Payment and Supply Chain Finance Solution

NEW HAVEN, Connecticut & SARASOTA, Florida – (COMMERCIAL THREAD) –Scanco software, the leader in warehouse, manufacturing and supply chain management solutions for Sage, and Main chain technologies, the blockchain-based digital B2B payment network, today announces that it is teaming up to co-develop an integration of the CoreChain payment network with Scanco’s software products.

The co-developed solutions, including an enhanced version of Scanco Purchase Agent, will enable Scanco customers to streamline their B2B payment process and unlock new supply chain financing opportunities. By leveraging enterprise blockchain technology to power B2B digital payments, users can streamline manual processes and painful reconciliations that can slow warehouse and manufacturing operations, while mitigating fraud. Additionally, Scanco customers can use built-in technology to fund working capital held in unpaid invoices that fall due around payment due dates, often 30 to 120 days late.

“The very nature of today’s warehousing and manufacturing business has changed, becoming much more virtual and end-to-end integrated,” said Andrew Nunez, CEO of Scanco. “The Scanco purchasing agent will enable our customers to closely align purchasing with payment and finance functions, allowing the entire business to work more efficiently and securely.

Since launching in September 2020, CoreChain has processed more than $ 500 million in B2B payments for enterprise buyers, including channel customer transactions. Available as a white label platform, CoreChain enables any ERP or Business Process Automation software vendor, or even banks and other payment networks, to offer a B2B digital payment solution to their business customers. .

“The CoreChain network is platform independent, which allows us to engage the entire supply chain ecosystem and ultimately better serve our customers,” said Nunez. “While we remain focused on the Sage platform, our solutions cannot be confined by the limitations of a single ERP. Our clients work in ecosystems, not applications. The CoreChain partnership is strategically important to our continued focus on expanding our business. ”

“Automating the payment process with blockchain technology will not only help Scanco customers operate more efficiently and securely, but it will also equip them for future changes in corporate payments,” said Chris Aguas, Founder and CEO of CoreChain. “Innovation in payments and corporate finance is changing at a breakneck pace and warehousing and manufacturing companies will need to adapt. Scanco customers will be well ahead of the curve and ready for any sea change that may arise. ”

“CoreChain and Scanco both share a deep goal of creating a great user experience that also delivers more security and savings for our customers,” said Tom Romary, Co-Founder and Chief Commercial Officer of CoreChain. “The integration of digital payments with working capital solutions, available through a state-of-the-art software solution in Scanco, is a welcome innovation in the manufacturing and warehouse industry.

General availability of the enhanced Scanco Purchase Agent product is expected in early 2022.

About Scanco

Since 1989, Scanco has been at the forefront of developing mobile warehouse and manufacturing automation solutions. Since its inception, Scanco has focused on innovative warehouse management solutions with a unique technology-driven approach. Scanco’s solutions provide unmatched efficiency and visibility to distribution and manufacturing companies around the world.

About CoreChain

Launched in September 2020 and led by established FinTech and blockchain entrepreneurs, CoreChain is the first digital B2B payment network built on the blockchain, and builds a network of networks, which allows businesses to pay other businesses in a secure manner. , fast and efficient compared to traditional methods. , while freeing up loan opportunities for suppliers to finance working capital tied up in approved but unpaid invoices.

CoreChain uses enterprise blockchain technology to automate the exchange of transaction data and funds in a secure environment, using a network of trusted networks, enabling B2B marketplaces and B2B software platforms with 5 to 50 billion dollars per year in existing trade volume to offer payments and financing services to their buyers and suppliers through our API-centric white label platform.

The company has raised $ 1.25 million in pre-seed funding from investors such as Ulu Ventures, Connecticut Innovations, Bloccelerate VC and New Form Capital.

For more information visit: http://www.CoreChain.tech