Fortune 500 Company Partners with DemicaFLEX - San Jose, California
Flex, a global fortune 500 company based in Silicon Valley is the second largest global electronics manufacturing services company. It operates in over 30 countries on four continents, employs over 200,000 people and in 2014 had revenues of $26.1 billion.
Flex appointed Demica to provide receivables processing and reporting solutions for its $500m global trade receivables financing programme. In addition to our reporting agent role, we provide dedicated ongoing support service. Our global reach and expertise in large multi-jurisdictional programmes has been a critical success factor, while our independence from the banks financing the programme has been a clear advantage to Flex.
Our technology platform interfaces with the key ERP systems from 20 operating companies located throughout Asia and Europe, consolidating daily into one centralised database billions of dollars of receivables each year. We then apply highly automated tools and processes to consolidate, monitor and report as frequently as required.
Our seamless, flexible reporting technology allows Flex to more than meet the rigorous requirements demanded by its syndicate of banks and the rating agencies, while minimising the time required from the treasury team to manage this critical process.