At a recent Supplier Finance Workshop hosted by Deutsche Bank, UK and Nordic corporates identified the accounting impact of Supplier Financing for buyer organisations as a key area of concern for their businesses. The interactive workshop brought together supplier finance specialists, accountants and key bankers from Deutsche Bank’s trade finance and cash management franchises.
“On the day it emerged that one of the primary areas of interest and concern for corporates is the accounting impact of Supplier Financing for buyer organisations. In that respect, the PricewaterhouseCoopers presentation outlining the firm’s thoughts, and answering questions, was very well received by the guests,” said Friedrich Philipps, Director of Supplier Finance in Frankfurt.
“The workshop was a fruitful discussion and clients addressed practical issues regarding supplier finance including accounting issues. This affirmed our view that the accounting treatment under IFRS (International Financial Reporting Standards) is also a relevant factor for clients related to supplier finance” said Folker Trepte, partner, PricewaterhouseCoopers (PWC). Co-presenter, Bernd Roese, also a partner at PWC, agreed.
“Following on this,” said Philipps, “Shivkumar Seerapu, Deutsche Bank Head of Product Management in Asia and I outlined the delivery process of Supplier Finance and pointed out how the bank caters for regional and even local specific requirements. In particular, our recommendations for supplier on-boarding and advice on how to address and overcome company-internal challenges generated a huge amount of interest.”
The event, which took place on 19 October 2007 in London, was chaired by Marilyn Spearing, Deutsche Bank’s Global Head of Trade Finance and Cash Management. The day-long event was the bank’s first Supplier Finance Workshop held in the UK and is likely to be repeated. Guests included key personnel from a cross-section of corporates from the technology, food and beverage, transportation, engineering, process technology, clothing and retail and home appliance manufacturing sectors.
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