{"id":2311,"date":"2024-10-31T07:15:00","date_gmt":"2024-10-31T07:15:00","guid":{"rendered":"https:\/\/riverchain-wp-dev.technine.com.hk\/?p=2311"},"modified":"2025-06-18T03:42:25","modified_gmt":"2025-06-18T03:42:25","slug":"novade-and-riverchain-announce-strategic-collaboration-to-enhance-supply-chain-financing-in-construction-3","status":"publish","type":"post","link":"https:\/\/www.riverchain.com\/ch\/novade-and-riverchain-announce-strategic-collaboration-to-enhance-supply-chain-financing-in-construction-3\/","title":{"rendered":"Novade and Riverchain Announce Strategic Collaboration to Enhance Supply Chain Financing in Construction"},"content":{"rendered":"<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-src=\"https:\/\/www.riverchain.com\/wp-content\/uploads\/2025\/05\/image-3-1024x768.png\" alt=\"\" class=\"wp-image-2312 lazyload\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/768;\" \/><\/figure>\n\n\n\n<p>30 Oct 2024<\/p>\n\n\n\n<p><strong>Hong Kong, 30 March 2024<\/strong> \u2013 <a href=\"https:\/\/www.novade.net\/?swcfpc=1\">Novade Solutions <\/a>and <a href=\"https:\/\/www.riverchain.com\/ch\/?swcfpc=1\">\u6d3b\u52d5 - \u6cb3\u532f\u570b\u969b<\/a> are excited to announce the signing of a Memorandum of Understanding (MOU) to embark on a strategic collaboration aimed at transforming supply chain payments and financing within the construction sector.&nbsp;&nbsp;<\/p>\n\n\n\n<p>This collaboration seeks to harness construction data to provide tailored financial solutions. Both parties recognise the pressing need for innovation in the construction supply chain and aim to address these challenges through their partnership.&nbsp;<\/p>\n\n\n\n<p>The traditional invoice payment process in construction is often manual and paper-based, leading to inefficiencies, disputes, and delayed payments. Contractors submit invoices based on project progress, which require multiple approvals, resulting in common challenges such as disagreements over work completion and a lack of transparency.&nbsp;<\/p>\n\n\n\n<p>Utilising real-time field data can significantly streamline the invoicing process. This data, collected from job sites, provides immediate validation of work, increases transparency among stakeholders, and automates documentation. Advanced digital tools, like Novade\u2019s field management software, facilitate field data capture, enhancing accessibility and accuracy.&nbsp;<\/p>\n\n\n\n<p>Accurate and reliable field data can also aid in invoice financing, enabling contractors to secure funding against outstanding invoices. This reduces risk for lenders and can lead to better financing terms for contractors.&nbsp;<\/p>\n\n\n\n<p>Overall, the partnership between Novade and Riverchain aims to leverage field data to enhance the invoicing process and provide improved financial solutions for the supply chain in the construction industry.&nbsp;<\/p>\n\n\n\n<p>\u201cWe are thrilled to partner with Riverchain\u201d said Denis Branthonne, CEO &amp; Co-founder of Novade. \u201cThis collaboration is a significant step forward in enhancing financial solutions within the construction sector, empowering contractors with the necessary tools to thrive in a competitive market.\u201d\u00a0Riverchain\u2019s CEO, Ben Wong, expressed enthusiasm for the partnership, stating, \u201cTogether with Novade, we aim to leverage our collective strengths to create innovative solutions that will transform the construction supply chain and provide substantial benefits to contractors.\u201d\u00a0<\/p>\n\n\n\n<p><strong>About Novade<\/strong><\/p>\n\n\n\n<p>Novade is a leading provider of field management software enhancing quality, safety, and productivity. Its flagship product, Novade Enterprise, is trusted by the world\u2019s largest companies in the building and infrastructure industry and is deployed at over 10,000 sites globally. With Novade Enterprise, site processes such as quality control, safety inspections or progress monitoring are digitalised and automated using mobile devices. The captured data provides insights to streamline operations and drive results.<\/p>\n\n\n\n<p>In 2022, Novade Solutions launched Novade Lite, an application optimised for managing operations for small to medium-sized projects. Novade Lite is available to download online and is free for up to 5 users. It is adopted by a wide range of clients, including specialty contractors, builders, renovators, auditors, manufacturers, facility managers, utility operators, field service providers, and more. Novade Solutions is headquartered in Singapore and operates globally.<\/p>\n\n\n\n<p><strong>\u95dc\u65bcRiverchain<\/strong><\/p>\n\n\n\n<p>Riverchain is a Hong Kong-based fintech startup dedicated to transforming the construction industry through technology. We provide accessible and industry-specific working capital solutions to foster a digital-led and resilient sector.<\/p>","protected":false},"excerpt":{"rendered":"<p>30 Oct 2024 Hong Kong, 30 March 2024 \u2013 Novade Solutions and Riverchain are excited to announce the signing of a Memorandum of Understanding (MOU) to embark on a strategic&#8230;<\/p>","protected":false},"author":1,"featured_media":2312,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-2311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Novade and Riverchain Announce Strategic Collaboration to Enhance Supply Chain Financing in Construction - Riverchain<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.riverchain.com\/ch\/novade-and-riverchain-announce-strategic-collaboration-to-enhance-supply-chain-financing-in-construction-3\/\" \/>\n<meta property=\"og:locale\" content=\"zh_HK\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Novade and Riverchain Announce Strategic Collaboration to Enhance Supply Chain Financing in Construction - 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