- MineHub announces general availability of its Financial Document Module, a digital tool designed to streamline invoicing and payment processes.
- Key features of the tool include centralized client communications, enhanced visibility, streamlined reconciliation, and efficient reporting.
Vancouver, British Columbia--(Newsfile Corp. - June 5, 2024) - MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) ("MineHub" or the "Company"), a leading provider of digital supply chain solutions for the commodity markets, is pleased to announce the launch of its Financial Document Module. This cutting-edge addition to MineHub's suite of offerings is set to modernize the management of financial documents by providing buyers and sellers with a unified platform for transparent, efficient, and secure financial data sharing.
The Financial Document Module serves as a centralized hub where buyers and sellers can access real-time insights into the financial status of their trade relationships. As invoices, credits, and debits are generated by sellers, the data immediately populates the MineHub platform, enabling customers to view financial data linked with transaction details, such as quotas and shipments. Moreover, payments received are promptly processed and applied to the relevant values, ensuring updated balances are readily visible.
Andrea Aranguren, CEO and Director of MineHub commented, "The introduction of the Financial Document Module represents an expansion of the value that we can deliver our customers beyond the management of the physical flows of material into the financial management of their transactions. With this new feature, MineHub empowers stakeholders to navigate the complexities of trade financials with ease, paving the way for enhanced transparency, efficiency, and collaboration across the entire supply chain. By expanding the scope of value delivered to customers, MineHub establishes a robust foundation for future financial analytics and reporting enhancements."
The commodity markets face significant challenges in managing invoices and payments. The sheer complexity and volume of transactions necessitate meticulous oversight, often leading to time-consuming and error-prone reconciliation processes. Payment delays are common, as verifying, approving, and reconciling invoices can take considerable time, affecting cash flow and financial planning. Disputes and discrepancies between invoiced amounts and actual deliveries also frequently arise, requiring additional documentation and negotiation to resolve. The lack of standardization in invoicing formats and payment processes across the industry adds another layer of complexity, increasing administrative burdens. Lastly, integrating various technological systems used for trading, invoicing, and payment processing poses further difficulties, often leading to inefficiencies and data silos. MineHub's Financial Document Module addresses these issues and provides an automated, standardized and centralized solution to its users.
Key features of the Invoice & Financial Document Module include:
- Centralized Client Communications: Seamlessly manage key client communications within MineHub, enhancing the overall customer experience.
- Enhanced Visibility: Provide customers with transparent visibility into their financial obligations, reducing payment delays and minimizing ad hoc information requests, thereby streamlining operations and saving valuable time for your teams.
- Streamlined Reconciliation: Gain comprehensive visibility into all outstanding invoices and their connections to shipments, simplifying the reconciliation process.
- Efficient Reporting: Generate reports on invoices, credits, debits, and payments, facilitating smoother collaboration with finance and accounting teams and saving valuable time.
About MineHub
MineHub is the digital supply chain platform for the commodity markets, making raw material supply chains more efficient, resilient and sustainable. MineHub provides enterprise-grade digital solutions that connect buyers, sellers, laboratories and financiers within physical commodities supply chains in a digitally integrated workflow powered by data that is useable, shareable, verifiable and unforgeable. Users of MineHub solutions are in full control of their supply chains, enabling them to optimize their use of resources, respond better and faster to disruptions, and provide a better customer service. Global enterprises already use MineHub solutions as part of their logistics, compliance, trade management and financing operations.
Andrea Aranguren
CEO, MineHub Technologies Inc.
For further information regarding MineHub, please email info@minehub.com or visit our website at www.minehub.com. Tel: (604) 628-5623
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains statements that are considered “forward-looking information” within the meaning of applicable Canadian securities legislation (“forward-looking statements”) with respect to MineHub including, but not limited to, statements with respect to MineHub’s future operational plans, the timing of such plans and anticipated customers. Forward-looking statements are statements that are not historical facts are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although MineHub believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company’s ability to raise sufficient capital to fund its operations, applications and for general working capital purposes, changes in economic conditions or financial markets, changes in laws or regulations that could have an impact on the Company’s operations, dependence on its key management personnel and market competition. Other risk factors are identified in the Company’s management discussion and analysis, available on the Company’s SEDAR+ profile at www.sedarplus.ca. There may be other risk factors not presently known that management believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. Although the Company has attempted to identify risk factors that could cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements or information. The forward-looking information is made as of the date included herein, and the Company assumes no obligation to publicly update or revise such forward-looking information. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of MineHub’s management on the date the statements are made. However, except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors should change.
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