Atlanta, GA, (PRWEB) February 07, 2012
PrimeRevenue, Inc., the leading SaaS platform for global Supply Chain Finance (SCF), today announced a 62 percent growth in the number of suppliers using its SCF platform in 2011. Companies across North America, Australia, Europe, and Asia joined PrimeRevenue SCF programs offered by their customers. The increase in SCF adoption rate amongst suppliers across the globe demonstrates their growing interest in utilizing PrimeRevenue SCF as a dependable source of cash flow.
PrimeRevenue provides its market leading, web-based, multi-bank, multi-currency SCF platform to buyers and their suppliers to help them reduce cost and capital risk throughout their supply chains . The PrimeRevenue SCF platform offers suppliers online visibility into their approved receivables at no cost. Additionally, suppliers are provided with the option to receive early payment at a low discount rate based on the buyer’s credit rating. By joining the SCF program, suppliers gain access to an on-demand and reliable source of operating cash flow.
“We are thrilled that PrimeRevenue’s SCF programs generated more than $23 billion in cash flow improvements for suppliers across 29 countries in 2011“ said Joe Weisskopf, vice president of global supplier solutions, PrimeRevenue. “We look forward to continued value creation for suppliers in 2012 as well.”
Commenting on the growing interest in SCF amongst suppliers worldwide, PJ Bain, PrimeRevenue’s CEO, added: “The suppliers’ increasing interest in SCF drives our continuous efforts to simplify and improve the end-to-end SCF customer experience. We are committed to helping suppliers maximize the benefits which derive from the use of our SCF platform.”
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. 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 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