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TraceLink and RSM Announce a New Strategic Business Alliance to Digitalize the End-to-End Healthcare and Life Sciences Supply Chain

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Forging a New Era in Health and Life Sciences Digitalization 

BOSTON, May 28, 2024 /PRNewswire/ — In a strategic alliance poised to accelerate the digital transformation of the global Healthcare and Life Sciences (HLS) industry, TraceLink’s Opus Platform Partner Program has welcomed RSM US LLP (“RSM”) – the leading provider of assurance, tax and consulting services for the middle market. Through this collaborative engagement, HLS leaders in supply chain, finance, and information technology gain access to a unified capability for rapidly linking their enterprise systems with a pre-authenticated digital network of more than 290,000 entities across the Healthcare and Life Sciences supply chain. By combining TraceLink’s proven platform for end-to-end network integration, collaboration, and supply chain intelligence with RSM’s specialized consulting, a streamlined “single-vendor approach” can be leveraged to acquire access to the real-time supply chain information needed to accelerate new products to market, reduce manufacturing costs and working capital requirements, and optimize the efficiency of global, multi-enterprise workforces.

“Through my engagements with senior executives at leading Pharmaceutical, Life Sciences, and Healthcare organizations, it’s clear that leaders recognize that, despite billions of dollars in enterprise system investments over the last decade, there is a critical need to acquire real-time, end-to-end supply chain intelligence and visibility to mitigate supply disruptions and ensure the continuous availability of products for patients,” said Shabbir Dahod, President and CEO, TraceLink. “Our business alliance with RSM unlocks the ability for our joint customers to rapidly orchestrate their end-to-end supply chain digitalization strategies by connecting their ERP, QMS, WMS, and other enterprise system deployments with clean, real-time supply chain intelligence acquired through multi-enterprise connections with companies that have been integrated to the TraceLink network for more than a decade.”

The digital transformation of the Healthcare and Life Sciences supply chain has taken a significant leap forward with the integration of TraceLink’s Opus platform with leading ERP systems like NetSuite and Microsoft Dynamics 365. Using TraceLink’s platform applications like Multienterprise Information Network Tower (MINT), customers can deploy proven B2B integration and process orchestration capabilities enabled by Opus to empower a range of teams, including Supply Chain Planning, External Manufacturing and Supplier Management, Sales & Marketing, and Clinical Supply departments, to navigate everyday challenges rooted in the inability to share data across the boundaries that exist among siloed enterprises.

“We are incredibly excited about teaming up with TraceLink,” said Joe Goldberg, management consulting partner and life sciences advisory practice leader with RSM US LLP. “This alliance allows us to combine our deep industry experience and service offerings with TraceLink’s advanced supply chain orchestration technologies, providing our clients with unparalleled service and capabilities. We’re looking forward to continuing to offer holistic, innovative solutions to the life sciences industry and are excited about the positive impact this collaboration will have on our clients’ businesses and the industry as a whole.”

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This collaboration offers an accelerated pathway to drug market entry, combining TraceLink’s supply chain orchestration with RSM’s knowledge of seamless ERP integration and financial reconciliation, ensuring streamlined operations, and enhanced decision-making through collective intelligence. Key elements include:

  • Unified Integration and Collaboration: Embrace TraceLink’s Integrate-Once, Interoperate with Everyone™ approach through MINT, providing a single point of integration for all supply chain partners, which, when combined with RSM’s comprehensive knowledge, streamlines operations and strengthens inventory control.
  • Accelerated Market Entry: TraceLink and RSM jointly facilitate rapid drug commercialization, merging RSM’s launch support with seamless ERP integration for faster development-to-market transitions.
  • Enhanced Decision-Making and Efficiency: Integrate a complete supply chain view into your ERP systems, supported by RSM’s specialized consulting, for superior decision-making and peak operational efficiency.
  • Experience in Compliance and Performance: Ensure adherence to international regulations, including US Drug Supply Chain Security Act and EU Falsified Medicines Directive, while accessing expert advice for system optimization.
  • Optimized Financial Operations: RSM’s Financial Reconciliation services, supercharged with real-time supply chain information sourced from the TraceLink network, including chargebacks, enhance financial transparency and efficiency, completing the offering’s comprehensive nature for holistic supply chain management.

About TraceLink
TraceLink is a leading provider of digital supply chain solutions that deliver unprecedented visibility, enabling companies to protect patients, ensure compliance, and optimize their supply chain operations. The TraceLink cloud-based platform provides a single point of information sharing and collaboration for all supply chain partners, leveraging advanced analytics and machine learning to drive actionable insights. With TraceLink, businesses can achieve end-to-end supply chain visibility and forge stronger connections with their partners, ensuring the availability and integrity of lifesaving medications for patients worldwide. For more information visit tracelink.com.

About RSM US LLP
RSM is the leading provider of professional services to the middle market. The clients we serve are the engine of global commerce and economic growth, and we are focused on developing leading professionals and services to meet their evolving needs in today’s ever-changing business landscape. Our purpose is to instill confidence in a world of change, empowering our clients and people to realize their full potential.

RSM US LLP is the U.S. member of RSM International, a global network of independent assurance, tax, and consulting firms with 64,000 people in 120 countries. For more information visit rsmus.com, like us on Facebook, follow us on X and/or connect with us on LinkedIn.     

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Agora acquires Clearshift’s real estate division

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Agora, a provider of real estate investment management solutions, has acquired Clearshift’s real estate division to “reinvent cross-border payments in investment management.”

The division has utilized Clearshift’s international payments infrastructure to facilitate mass payouts and capital investments between foreign investors, asset managers, real estate property managers, and fund administrators.

While the financial details of the acquisition remain undisclosed, Agora will now serve as the division’s primary client-facing interface, offering “user-friendly investment management tools.” Clearshift will retain responsibility for payment execution and compliance functions.

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For existing Clearshift clients, this integration into the Agora platform promises “enhanced capabilities.” Agora’s clients, not currently subscribed to Clearshift, will gain “a transparent solution to foreign exchange activity” that enables “seamless distributions and contributions in any currency worldwide.”

Ari Dobner, CEO of Clearshift, noted, “After years of refining our fund manager payment solution, it became clear to us that our clients would truly benefit from a full investor management solution with seamless payment integration.”

Bar Mor, co-founder and CEO of Agora, added that the acquisition will enhance their platform with “streamlined and cost-effective international payments,” leveraging the “substantial customer overlap between Agora and Clearshift.”

This acquisition follows the recent closure of Agora’s $34 million Series B funding round, backed by Qumra Capital, Insight Partners, and UK-based investment firm Aleph.

Source: fintechfutures.com

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InScope secures $4.3m to revolutionise financial reporting and auditing

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InScope, a newly launched FinTech company, has successfully raised $4.3 million to expand its innovative financial reporting and auditing platform.

According to PYMNTS, the funding round included significant contributions from prominent investors such as Lightspeed and Better Tomorrow Ventures.

InScope is focused on transforming the traditional processes of financial reporting and auditing for private companies. The company leverages advanced technologies, including generative AI and large language models, to automate and streamline the compilation of financial statements—tasks that have historically been prone to errors and required extensive manual effort.

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The new capital will be used to enhance InScope’s platform capabilities. The company aims to shift accountants’ focus from laborious manual tasks to more strategic initiatives, thereby empowering finance professionals with tools to complete reporting and auditing tasks quickly and efficiently.

InScope’s system compiles data from a company’s core systems, such as ERP, along with publicly available information, and transforms these inputs into GAAP-compliant financial and audit documents.

InScope CEO and co-founder Mary Antony stated, “Our technology dramatically reduces the time and effort required for financial reporting and auditing, eliminating the need for outdated manual processes.” Her co-founder and COO, Kelsey Gootnick, also emphasized the transformative potential of InScope, which they conceived out of their own frustrations with existing financial processes.

The company has already begun collaborating with a select group of companies to refine and enhance their financial reporting capabilities. JC Bahr-de Stefano, a venture capital investor at Better Tomorrow Ventures, commented on this partnership: “InScope is already working with a handful of companies to help streamline their financial reporting needs and enable accountants to complete their reporting tasks in minutes instead of months.”

Source: fintech.global

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Citi extends USD Clearing service to Middle East in partnership with Emirates NBD

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Citi has partnered with Dubai-based banking group Emirates NBD to launch its USD Clearing service in the Middle East.

Through this collaboration, Emirates NBD will offer the USD Clearing service, along with its commercial and treasury payment execution capabilities, to corporate and retail clients via its branch networks in the UAE and Saudi Arabia. This service will enable clients to make cross-border USD payments with continuous availability, addressing current payment flow challenges posed by varying transaction cut-off times in the UAE.

“The introduction of 24/7 USD Clearing will support the growth ambitions of our clients by giving them the ability to seamlessly transfer funds in a timely manner without having to worry about cutoffs and holidays,” said Ahmed Al Qassim, group head of wholesale banking at Emirates NBD.

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Following the initial launch, the service will be extended to all Emirates NBD branches in the Middle East and globally, including partnerships with third-party institutions.

According to its website, Emirates NBD currently operates 853 branches in the UAE, Egypt, India, Turkey, Saudi Arabia, Singapore, the UK, Austria, Germany, Russia, and Bahrain.

Shahmir Khaliq, Citi’s head of services, described the collaboration as “an important step in our journey to creating a multibank solution that is designed to deliver an end-to-end, ‘always on’ experience for participant banks and their customers.”

“Our 24/7 USD Clearing service is a clear differentiator in the market,” Khaliq continued. “It demonstrates the full value of our globally leading cross-border payments and clearing capabilities, which enable our clients to make payments faster and in a more efficient and transparent manner.”

Source: fintechfutures.com

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