Atlanta, GA (PRWEB) July 16, 2012
PrimeRevenue Inc., the leading SaaS platform for global Supply Chain Finance (SCF), today announced that 8,500 Suppliers have been onboarded on its OpenSCi™ platform to date to take advantage of Supply Chain Finance. This represents a 29% increase in the number of Suppliers who use the PrimeRevenue SCF platform since January 1, 2012.
The PrimeRevenue OpenSCi™ solution provides Suppliers with payment visibility and certainty regarding their approved receivables, providing “on-demand”, quick, and easy funding based on the more favorable credit rating of their customer. While payments to Suppliers are made electronically and with no usage fees, PrimeRevenue’s SCF Platform also provides Suppliers with free full remittance information. By using the OpenSCi™ solution, Suppliers are able not only to reduce costs and eliminate early payment discounts thus improving debt-to-equity ratios, but also to build stronger relationships with their clients by reducing disputes, collection, and cash application costs.
“At a time when the cost of financing is high and mere access to financing represents a challenge for many small Suppliers, our OpenSCi™ working capital solution allows them to maintain a healthier balance sheet, reduce Days Sales Outstanding (DSO), and improve their cash positions,” said PJ Bain, PrimeRevenue CEO. “Ultimately, by establishing a consistently positive credit rating, Suppliers can qualify for better terms from Buyers and Financial Institutions. It is not surprising that so many Suppliers see the value of the services PrimeRevenue provides and choose to take advantage,” concluded Bain.
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 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