LiquidX Chief Revenue Officer Ali Hackett and Managing Director Kristen Michaud were featured speakers at a webinar of the Global Blockchain Business Council, the leading industry association for the blockchain technology ecosystem. The presentation, “Transforming traditional working capital management into a digital asset network,” outlined the issues faced by companies, banks and insurers when handling traditional paper-based trade documents.
A recording of the webinar is available here:
Key points include:
Working capital assets (purchase orders, invoices, insurance policies, etc.) cause havoc for downstream cash management since these assets are governed by physical documents (i.e., master service agreements, contracts) whose covenants do not travel with the asset through its lifecycle.
LiquidX’s InBlock digitizes assets and their accompanying governance, allowing for tracking of both assets and their underlying cashflow. This capability has huge benefits including better cash forecasting, less time spent on reconciliation, and creation of “trusted assets” that are free to flow between departments, entities, and counterparties.
Further, with data out of silos and single-use platforms, AI and machine learning can be used to identify payment patterns which ultimately improve cash forecasting. InBlock modules for invoice to pay, order to case, monetization, reconciliation, cash forecasting, and position and risk monitoring provide a unique “wing-to-wing” solution.