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Skyscend announces new partnership with IBM

Skyscend incorporates IBM’s innovations & Cloud Technology suite of products to it's global Skyscend SaaS Fintech solutions.

ATLANTA, GEORGIA, USA, April 5, 2022 / — Skyscend Inc., a fintech start-up with headquarters in Atlanta, GA, and a sister company based in Bengaluru, India, announces its global partnership with IBM. "IBM's Embedded Solution Agreement (ESA) allows us to combine IBM's cutting edge-technologies with our Skyscend Pay B2B SaaS fintech platform to service the global marketplace.", explained Steve Roach, CEO & Chairman. "Our engineers will leverage the IBM Cloud Technology & plan to add the IBM Watson suite of products inclusive of but not limited to: Artificial Intelligence, Machine Learning, Predictive Analytics, Automation and Risk Management, and Fraud Prevention".

As a pureplay SaaS Fintech company, Skyscend simplifies Supply Chain collaboration by providing a secure, intuitive, transparent, and seamless platform that unites the Buyer, the Supplier and Financial Institutions. It provides transformative services enabling Customers to register, manage, finance, and pay their valued Suppliers.

The secure and patent pending SaaS solution integrates to any ERP or Spend Management solution (SAP, Oracle, Workday, Microsoft, QuickBooks etc.). SkyscendPay, enables indirect and direct suppliers to be onboarded, view the status of Supply Chain transactions, submit invoices and to finance Accounts Receivables all via a Supplier Self-Service model.

The Problem: Friction is created when companies transact with each other due to user error, paper processing, use of different systems & networks, master data issues & poor communication. This impacts delivery performance & results in delayed payments to the Supplier — eroding trust & supply chain efficiency.

The Idea: What if we could reimagine how the supply chain is managed and provide one simple, transparent, and seamless platform that is shared by both the supplier and the customer? And what if the data that resides on this platform is integrated with the customer’s business system? And what if we provided smaller suppliers with the ability to submit accurate intelligent invoices to their customers through this platform? And what if we could add a third-party financial institution who could provide just-in-time financing, as needed, to help with cashflow and liquidity? All managed on the device of choice.

The Solution: SkyscendPay was developed to address The Problem by using innovative technologies such as blockchain (security & trust), artificial intelligence & machine learning. By using IBM Cloud Technologies – the SaaS solution can scale as needed to support any size organization & increase accuracy and efficiency through intelligence. Since customers and their suppliers conduct business on the same platform — they have the same supply chain visibility — from supplier registration through payment — eliminating the need for telephone calls or emails while keeping orders and payments flowing without interruption. By adding Financial Institutions onto the platform, customers can provide their suppliers with an Early Pay option (secured by the approved invoice) — helping address cash flow issues. The integration with backend business systems and spend management networks reduces complexity while providing timely and accurate data representing the single source of truth. All with 24x7 support.


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