There is a Finnish saying that if you try and steer your car forward by looking into the rear view mirror, you’ll probably encounter some unintended off road terrain. However, in order to share our outlook at OpusCapita on the year 2017 regarding Supply Chain Financing (SCF), a short glimpse to the past year and the current market environment is in order.

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I bet all of you have either been or seen that guy in a department store, sitting on the courtesy couch (love that couch!) near the changing rooms waiting for his wife or girlfriend.

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There’s an HBO drama series called ‘House of Lies’ that tells the story of a high-flying management consultant, Marty Kaan (played by Don Cheadle) who leads his team in their exploits to navigate the treacherous waters of competing consultancy firms and demanding assignments. ‘House of Lies’ is entertaining but, unfortunately, plays on many of the negative stereotypes that prevail about management consultants. Instead of delivering a solution to the client, Marty’s team’s focuses on invoicing the client for as much as and as long as possible. Nothing is sacred, not even client confidentiality, as long as Marty is able to maximize his team’s invoicing and successfully hop from one firm to another with the aim of setting up the ultimate ‘shop’. And of course, this ‘shop’ would be his own globally leading consultancy firm. On top of all that, there’s also the constant backstabbing which is rife among and within the consultancy firms in the series.

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The PEPPOL network is expanding rapidly in different parts of Europe. If you are not yet familiar with this acronym, I encourage you to take a closer look. PEPPOL is changing electronic cross-border procurement and invoicing in Europe. It is facilitating trade between companies while also helping them digitize their purchase-to-pay chains. Companies that want to maximize the benefits of electronic invoices should be paying attention.

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In the last blog posts, we dug deeper into a recent phenomenon which is CEO fraud. A form of fraud where an attacker mimics the email of the CEO or another C-level executive of the company and asks you to transfer money quickly. While it’s hard to imagine ourselves answering to one such email by making our CEO proof that he is really who he claims he is there are several measures we can take to reduce the risk of falling victim to this new threat. 

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