Interview of Alex Lutskiy, Co-founder and CEO of Innovecs in TOP100 magazine

The recent banking fraud survey in 2019 revealed that modern financial institutions (FIs) have to overcome many challenges, including cyberattacks, data breaches, slow payments, and adopting digital tools. These hurdles are the main reasons why banks and financial firms have faced low efficiency and decreased customer satisfaction. All this inevitably leads to a drop in revenues. The payments today need to be faster and the security within banks needs improvements. Thankfully, the highly digitized fintech industry offers the solution – EDI or electronic data interchange. For the financial sector, EDI means seamless transactions, enhanced security, automated processes, fewer costs, elevated customer service and more. Look under the hood to see how EDI works.

Supply chain management (SCM) encompasses a broad spectrum of processes essential for efficiently orchestrating the entire journey of a product, from sourcing raw materials to crafting the final masterpiece and distributing it economically. By integrating a series of strategic actions, SCM optimizes the seamless flow of goods, services, information, and costs across crucial stages: planning, sourcing, production, inventory management, and logistics. To gain a competitive edge, companies employ a combination of well-defined supply chain strategies and advanced management software.       The success of supply chain management relies on the collective efforts of all participants involved—ranging from suppliers and manufacturers to every link in the chain—to ensure its seamless operation. Achieving this level of efficiency demands strong change management, cooperation, and risk management, fostering alignment and collaboration among all partners.