Traxpay and NORD/LB at the virtual coffee congress

At the virtual coffee congress, Christian Lips, Chief Economist at NORD/LB, presented his outlook for 2022: While companies complain about supply bottlenecks and shortages of materials as well as equipment, and the impact on production may continue well into the current year (in some industries even into next year), the order backlog is at record levels. There is also hope for the coffee sector: Lips expects a strong catch-up effect in private consumption as soon as the burdens of the pandemic and the shortage problem ease. On the financial markets, market participants would have to prepare for further increases in interest rates in the medium term. High energy prices and persistent inflationary pressure call for a reversal of monetary policy in the near future; at least in the U.S., Lips expects the monetary authorities to initiate a turnaround in interest rates in the near future.

Subsequently, Traxpay’s Head of Finance Jan Osenegg presented the “Skonto 2.0”: is a dynamic cash discount that is calculated on a daily basis based on an annual interest rate. The process is made possible by platforms that orchestrate this optimally for all parties involved. If required, the supplier receives his money earlier for a small discount. The transparent conditions ensure fair cooperation and stable customer-supplier relationships. Financing is provided either by the company’s own liquidity (especially in turbulent times many companies have built up a liquidity buffer) or by the house bank.

This also closes the circle to the megatrends of digitization and sustainability: within the scope of the programs, buyers can financially incentivize sustainable suppliers to make supply chains more resilient and additionally contribute to the achievement of their ESG goals. Successful digitization is characterized by making the entire process fully automated – without the need for manual intervention.

Many thanks to the German Coffee Association, NORD/LB, Christian Lips, Thorsten Marten, and Jan Osenegg!

More information: https://www.traxpay.com/…

About NORD/LB

With total assets of EUR 120 billion, NORD/LB Norddeutsche Landesbank is one of Germany’s leading commercial banks. As an institute under public law, it is part of the S-Finance Group. Its core business segments include corporate customers, special financing in the energy and infrastructure sectors and for aircraft, financing commercial real estate via Deutsche Hypo, capital market business, association business with the savings banks and private and commercial customers including private banking. The bank is based in Hanover, Braunschweig and Magdeburg and has branches in Bremen, Oldenburg, Hamburg, Schwerin, Düsseldorf, Munich and Stuttgart. Outside Germany NORD/LB is represented with a Pfandbrief bank (NORD/LB Covered Bond Bank) in Luxembourg and with branches in London, New York and Singapore.

About the German Coffee Association

With more than 330 members, the German Coffee Association is one of the medium-sized associations, but it carries all the more weight. After all, coffee is one of the most important trade goods and Germany is the third largest coffee market in the world. Its members include almost all the leading names in their respective industries. But the association is by no means just the lobby for the big players; it stands up for small and large members alike. After all, only all of them can be strong together in one association.