Globally, the supply chain finance (SCF) market is expanding and maturing. A new report from BCR Publishing, a news provider that specializes in the receivables finance industry, estimates a growth of 30 percent per year. BCR’s research shows the market could be worth €43 billion ($46.5 billion) in terms of the funds currently in use.

The experts interviewed for the “World Supply Chain Finance Report” reveal several trends expected to shape supply chain finance over the next 12 months. As SCF attempts to mature, deciding on a common definition is essential. Throughout the report, those interviewed point to the varying description of the practice. For some, supply chain finance has become synonymous with supplier finance. Others take a more holistic view, opening up the meaning to include reverse factoring, buyer-centric supply chain finance, approved payables finance and pre-shipment finance. The work toward common standards has begun. In 2014, six of the most influential bankers’ associations came together to form the Global SCF Forum. Part of the group’s mandate is developing globally accepted market terms to be used industry wide. The hope is a common knowledge base combined with standard definition make joint or multiple partner deals across national borders less trouble.