Atlanta, GA (PRWEB) January 16, 2012
PrimeRevenue, Inc., the leading SaaS platform for Supply Chain Finance today announced operating results for the year ending December 31, 2011, in which the firm continued steady growth in revenue and profit for another four consecutive quarters of operation. Building on the previous year’s accomplishments, the PrimeRevenue SCF Platform has helped multiple North American, European and Asia/Pacific clients achieve working capital reductions while providing more than $50 billion in on-demand, low cost financing to Suppliers in 29 countries and 10 currencies. As a result, the Company’s SCF revenue grew by more than 35% over 2010 levels.
"Despite a challenging year overall for national economies and industrial financing, PrimeRevenue is extremely proud of our ability to help drive improvements in working capital and cash flow for our clients, and to deliver record results for our Company in 2011,” said P.J. Bain, PrimeRevenue CEO. “We look forward to strong growth again in 2012, and to that end we are announcing a new platform for innovating the Financial Supply Chain, named PrimeRevenue OpenSCi™”.
PrimeRevenue, Inc. announces OpenSCi™, a cloud-based Supply Chain Finance Interchange intended to broaden finance capabilities to better serve the global SCF needs of buyers and suppliers and cover a broader spectrum of value for the world’s largest supply chains. The first major components of the new solution are targeted for delivery to existing customers in first quarter of 2012.
“Based on our success over the past several years, it is clear that PrimeRevenue is unmatched in delivering value for supply chain financing for both the buyers of goods and services and their supply chains,” comments P.J. Bain, CEO of PrimeRevenue, Inc. “Our focus in introducing OpenSCi™ is to bring the same level of transparency and efficiency that we brought with our original SCF platform, but to the entire supply chain.”
“We have spent much of this past year putting together the core technology infrastructure that will allow us to rapidly grow PrimeRevenue OpenSCi into the leading Supply Chain Interchange in 2012 and beyond,” said PJ Bain. “By bringing together the owners of the world’s largest Supply Chains and the thousands of participants in those supply chains, increasing the transparency and the efficiency of the transactions, and enabling faster and better working capital decisions, we have a goal over the next 5 years of unlocking $100 Billion of cash currently trapped in supply chains.”
PrimeRevenue OpenSCi™ is comprised of multiple SCF component applications intended to work both independently and in concert, as called for in the custom SCiMap™ designed for each client and supplying a specific mix of supply chain finance capabilities and instruments appropriate to their particular SCF goals and objectives. OpenSCi is intended to be adjustable as the SCF goals of the Buyer or Supplier shift over time. This flexibility is an intrinsic core value of the OpenSCi approach, and is a response to requests from existing PrimeRevenue SCF clients to provide a mix of SCF capabilities within a single client program, through a single user trading and reporting interface.
Multi-Bank/Funder capabilities, a hallmark of PrimeRevenue SCF over the years, will continue in OpenSCi and be strengthened. With the addition of the SCiFITM component for managing multiple financial institutions and funders within a complex SCF program, OpenSCi will deliver the ability to plug-and-play a mix of funding institutions, providing liquidity on a global basis while making it easy to adjust that mix as the SCF program requires.
About PrimeRevenue, Inc.
For Global 2000 organizations who view their supply chains as a strategic asset and are seeking to increase supply chain efficiency, PrimeRevenue is the leading provider of multi-bank Supply Chain Finance (SCF) technology and services. Our open SCF platform and working capital advisory services provide these organizations with the control and flexibility required to drive superior SCF results, reducing cost, capital and risk throughout their supply chains and forging stronger supplier relationships. Headquartered in Atlanta, Georgia, USA, PrimeRevenue also has offices in Paris, Frankfurt and Prague in Europe, as well as in Melbourne, Australia, and operates some of the largest SCF programs for customers around the globe. For more information, visit http://www.primerevenue.com.