San Francisco, CA (PRWEB) October 15, 2012
The partnership marks yet another step forward in TRADESHIFT’s mission to redefine the e-invoicing space by providing enterprises with the tool set they need to achieve full supplier adoption and 100% electronic invoicing.
SCF and e-invoicing, although often existing in separate spheres, when combined form a powerful symbiotic relationship. E-invoicing is able to strengthen the business case for SCF by providing access to real-time data and speeding up invoice approval cycles for Buyers. Meanwhile, SCF provides further incentives for long tail suppliers to adopt the e-invoicing platform by providing access to new funding opportunities and improving overall payment cycles.
PrimeRevenue and TRADESHIFT will be able to bundle their respective services and provide a beneficial and unique offering to their customers. TRADESHIFT’s e-invoicing technology provides added value services for PrimeRevenue to process approved invoices in SCF programs, faster and more efficiently. The PrimeRevenue OpenSCi™ solution delivers TRADESHIFT customers a bank-independent SCF platform with access to funding from over 34+ financial institutions. With the TRADESHIFT platform utilized by 140,000 businesses across the globe and PrimeRevenue managing over 80+ active SCF programs worldwide, the potential reach and success for the strategic partnership between these two companies is certainly promising.
“TRADESHIFT was built on the principle that enterprise solutions need to deliver value to companies on either end of the transaction - both buyers and suppliers. This is the only way we will ever see full adoption of platforms by suppliers, and it is the only way large enterprises will achieve 100% electronic invoicing. TRADESHIFT partnering with PrimeRevenue improves the business case for all our customers to adopt both supply chain finance and e-invoicing. Both are vital services, but bundling them will help trading partners obtain the most value,” commented TRADESHIFT CEO, Christian Lanng.
“PrimeRevenue processes over $53 Billion in transactions annually and provides more than $18 Billion in on-demand, low cost financing to 8,900+ suppliers in 37 countries and 17 currencies,” said PJ Bain, PrimeRevenue CEO. “PrimeRevenue OpenSCi™, our global, multi-bank, multi-currency SCF platform helps corporations improve supplier relationships while managing payables and maximizing working capital. We look forward to future growth through this strong partnership,” concluded Bain.
TRADESHIFT, the network-powered platform for business, connects companies of all sizes to perform core functions such as workflow and invoicing with greater efficiency.
Launched in May 2010, TRADESHIFT is used by over 140,000 companies across 190 countries. Businesses on the TRADESHIFT platform include ASP NHS, the French Government, Kuehne+Nagel, TDC, DT Group, and DSV.
TRADESHIFT was awarded Best Enterprise at The Techcrunch Europa awards and Most Innovative Solution by Financial-I. TechCrunch also recognized it for “Kicking Ass Globally”.
TRADESHIFT Inc is a global business, headquartered in San Francisco with offices in Copenhagen, London, Frankfurt and Amsterdam.
Find out more at http://tradeshift.com/enterprise
Public Relations Manager
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. The PrimeRevenue OpenSCi™ SCF platform and working capital advisory services provide these organizations with the control and flexibility required to drive superior SCF results, reducing cost and capital risk throughout their supply chains and forging stronger supplier relationships. Headquartered in Atlanta, Georgia, USA, PrimeRevenue also has offices in London, Paris, and Prague in Europe, as well as in Melbourne, Australia, and Hong Kong SAR, and operates some of the largest SCF programs for customers around the globe. For more information, visit http://www.primerevenue.com