Themis by Commerzbank, More efficiency in supply chain processes with Themis
Efficient Transaction Monitoring and Secure Payment Handling with Themis
Keep an eye on everything: Using Themis, buyers and sellers securely share transaction data troughout the entire cycle - from the initial purchase order to the final invoice, including delivery, payment and accounting. Business partners can use Themis to monitor the status of their orders, invoices and deliveries. Any discrepancies in key information such as product type, quantity or price are detected and can be resolved immediately.
Themis includes a digital wallet for the secure exchange of programmable payments.
Your Benefits, Handling data differences in any phase of a supply chain transaction
Real-time data validation between the IT-systems of buyer and seller improves data quality.
Immediate detection of differences allows prompt action to reduce time and effort in exception handling.
Lower overall number of exceptions in invoices.
Programmable payments are fulfilled exactly according to payment instructions: in the right amount at the right time.
Each payment is directly linked to an order and invoice – we merge the flow of money and information into one.
Programmable payments allow for unprecedented precision in liquidity management.
Seamless transaction flow for buyers and sellers
Themis has been designed as a direct communication line between the IT systems of any two business partners (for example buyer and seller). On Themis, business partners connect to validate transaction data, find consensus over invoice validation and transfer payments between one another.
Digital handshake and real-time data validation
Themis ensures both trading partners are fully aligned on every parameter of the agreement. This is achieved by translating the purchase order (and order confirmation) into a smart contract – a self-executing version of the deal that formalises the shared understanding between buyer and seller. Any discrepancies are detected and flagged to the right people - before they cause downstream issues.
Automated invoice validation
Once goods are shipped and received, Themis compares the real transaction data according to sellers’ invoice and buyers’ goods received note with the agreed parameters. When all conditions are met, the invoice is confirmed, and Themis schedules a programmable payment according to the terms of the agreement (typically 30 days). This means the seller can rely on cash flow arriving as agreed, improving precision and transparency in liquidity management.
Programmable payment
Payments are settled on Themis directly between the digital wallets of buyer and seller, exactly as agreed. No delays, no disputes – just seamless settlement. At the end of each day, we provide a wallet statement in which each payment is fully referenced and traceable. The wallet reports comply with the standard banking formats so that the finance teams can process them just like any other account statement.
How Themis makes it possible:
To connect any two trade partners, regardless of the IT systems they use, we have developed a universal and lightweight integration method. It works with just four validation points: purchase order & order confirmation, invoice and goods recieved note. These data points are exchanged through simple APIs that are quick to implement and easy to maintain. No matter the systems in place, Themis facilitates a shared digital truth between business partners. However, the originating ERP systems remain the primary system, keeping data control and authority with the customer.
Start with Commerzbank
Assessment
We will support you during the assessment phase to help you understand how you can benefit from our solution.
Signature
After signing a contract and exchanging a few basic pieces of information, we will provide you with access to the Themis user interface and wallet along with comprehensive product documentation. You can start using Themis immediately.
Integration process
Most clients seek technical integration of Themis into their systems. A dedicated specialist will guide you through the integration process. Our smart and simple APIs ensure easy onboarding for everyone.
Invitation
Maximise the benefits of Themis by inviting your key business partners. We help each new joiner address top counterparties (suppliers and buyers) and invite them to join the platform in a supply-chain-finance-like approach.
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New to Commerzbank? At the beginning of the onboarding process, we conduct a standard Know Your Customer (KYC) procedure. While all new customers are welcome to open a new payment account with us, it is not strictly required, since Themis comes with a digital wallet that fulfills all necessary account functionalities.