InvoiceMate and 24SEVEN Partnership: Supporting Retail Supply Chain in the UAE
InvoiceMate and 24SEVEN: Partnership Supporting Retail Supply Chains in the United Arab Emirates
InvoiceMate, specializing in blockchain-based invoicing and financing solutions, has announced a partnership with the technology company 24SEVEN. Their common goal is to support retail supply chains in the UAE by enhancing financial inclusion for thousands of SMEs.
Challenges Faced by SMEs in the United Arab Emirates
SMEs operating in the UAE often encounter issues related to invoices and cash flow. Therefore, InvoiceMate’s solutions, combined with 24SEVEN’s technology, aim to facilitate their daily operations.
Growth of the Retail Market in the UAE
Forecasts indicate that the total annual retail market in the UAE will exceed 100 billion dollars by the end of 2024. Thus, the introduction of innovative financial solutions is crucial for the sector’s development.
Benefits Offered by Blockchain-Based Financing
Blockchain-based financing brings a range of benefits compared to traditional invoicing processes, such as risk reduction, quicker turnover, and increased flexibility. This innovative approach can significantly streamline the operations of retail companies.
Operational Support for Retail Partners
24SEVEN will provide real-time data processing at points of sale through Optima hardware devices and dedicated software. The collaboration between InvoiceMate and 24SEVEN aims to provide financing for the operational needs of retail partners and suppliers, ensuring financial liquidity.
As a result, this initiative will facilitate access to financing for retail companies, supporting their daily operations and contributing to the growth of the UAE retail economy.
