Riyadh - Sharikat Mubasher: IBEA fully launches and deploys in the Saudi market as a pioneer in financial solutions, with the purpose of revolutionizing Middle East supplier’s payments landscape. IBEA had the golden opportunity to showcase and demonstrate the value of dynamic discounting to more than 120 financial experts during the 2nd CFO Vision and Innovation Summits & Awards, hosted at Riyadh Marriott Hotel on 13th November 2024.
In the heat of the summit Ismail A. Amonette, the CEO and founder of IBEA, introduces the groundbreaking technology of IBEA – Dynamic Discounting. Highlighting the key advantage, empowering financial leaders to generate substantial ROI by accelerating suppliers' payments.
Allianz’s trade report highlights that the Saudi market, along with the GCC region experience the highest warning categories related to late payments and insolvencies. This situation has resulted in thousands of suppliers facing challenges in cash flow due to persistent late payments. IBEA’s aims to solve these challenges through utilizing dynamic discounting to both buyers and suppliers cashflow, visibility and predictability.
IBEA aims to elevate the contribution of SMEs to 30% of the GDP, working in-line with Saudi Vision 2030 in pursuit of fostering a robust and diverse private sector by transforming Accounts Payables into revenue generators. Focusing on facilitating access to essential capital for SMEs, without the risk associated with debt and lending by providing a more stable, predictive, sustainable supply chain finance alternative. By doing so, we strive to strengthen and enhance the resilience of the supply chain.
