The future of supply chains is shifting towards open-source, standards-based software to overcome the limitations of proprietary systems that restrict data sharing and are costly. Open-source initiatives like the Open eBL offer cost-effective, flexible, and transparent solutions that enhance security and foster community engagement. Unlike proprietary systems that lock in users and inhibit interoperability, open-source platforms encourage easy data exchange and customization. With the increasing adoption of these open solutions, global supply chains are expected to become more efficient, agile, and resilient, driving innovation and rapid development through global community contributions.

The pandemic has expedited digital transformation across various sectors, profoundly impacting B2B (business-to-business) and SMB (small and medium-sized business) sectors with a significant shift towards digital payments. This transition, highlighted in recent PYMNTS reports, is driven by the quest for efficiency, better cash flow management, and stronger business relationships. Here’s how this transformation is reshaping the landscape of payment processing, emphasizing the vital role of digital solutions in the modern economy.

72% of North American companies using outside funds saw their business numbers improve. Also, about 9 out of 10 of these companies received better payment terms for their new projects. 49% of the top-performing businesses use working capital solutions for strategic business growth. For businesses engaged in international trade, the challenges are manifold – ranging from payment risks to foreign exchange fluctuations, among which the paramount importance of cash flow management cannot be overstated. This is where innovative fintech solutions like BlueX come in, tailored to streamline your global trade and help your business grow with the right cash flow strategies.

2023 is coming to an end. It has been a difficult year for small business operations, as many business owners have been confronted with a variety of challenges. Understanding these obstacles and employing strategic approaches to overcome them is crucial for sustainability and growth. Let’s look back on some of the problems encountered this year.

BlueX's mission is to reach and benefit as many in the supply chain industry as possible. Looking ahead, we'll announce more opportunities for networking and growth. Stay tuned for more information, and prepare to engage, connect, and expand your professional network. We're always looking forward to hearing your thoughts and exploring the possibility of bringing the BlueX experience right to your doorstep.