Atlanta, GA (PRWEB) September 11, 2012
PrimeRevenue Inc., the leading platform for global supply chain finance, and eFactor Network SA de CV (EFN), a Mexican provider of technology for financing operations for national and international corporations, are proud to announce a celebratory event marking three years of successful collaboration. Organized by EFN, the event took place on August 23, 2012, at 7:30 pm at Club Ejecutivo, Rio Danubio 395 Ote., Col. Del Valle, San Pedro Garza Garcia, Nuevo León, México. The event was attended by an invited list of local and regional EFN customers like Axtel, Farmacias Benavides, Xignux, CIE Automotive, Construlita, Homex, Tiendas Comercial Mexicana, Urbi and Nemak, as well as banking partners such as the International Finance Corporation (IFC) part of the World Bank Group, Banorte, Bancomer, Invex, Rabo Bank, Grupo Monex and HSBC.
EFN is providing the PrimeRevenue OpenSCi™ solution to help buyers achieve significant and ongoing working capital improvement, eliminate negative cash flow impact of term extensions on suppliers, and optimize working capital in the financial supply chain. PrimeRevenue’s OpenSCi SCiSupplier™ solution provides suppliers with payment visibility and certainty regarding their approved receivables, while funding partners are placed directly in the middle of the real-time flow of payable/receivable information and profit from increased financing opportunities without process expenses.
“Our third anniversary marks a special time in our company’s history. We have grown considerably since beginning our journey in 2009 and currently support over 20 Buyer programs providing liquidity to thousands of Suppliers with funding from more than 10 Mexican and non-Mexican financial institutions,” says Hector de la Garza, CEO, EFN. “Working with PrimeRevenue has allowed us to offer a unique service in SCF technology in Mexico helping us to become the most advanced supplier of e-factoring solutions. We strive to continuously expand our services in order to meet our clients’ unique needs and exceed their expectations,” concluded de la Garza.
“We are delighted that, through this strategic partnership, EFN and PrimeRevenue are able to bring the first truly multi-bank SCF solution to Latin America,” said PJ Bain, PrimeRevenue CEO. “Using PrimeRevenue’s OpenSCi™ SCF platform, EFN is able to support Latin America’s prominent role in international trade by providing Mexican Buyers and their worldwide suppliers best in class options for optimizing working capital in the supply chain. We look forward to much continuing success and future growth through this very strong partnership,” concluded Bain.
eFactor’s primary goal is to deliver Supply Chain Finance solutions for corporations and financial institutions located in Mexico and Latin America. The company has extensive experience working with e-factoring solutions in Mexico since 2001. With the PrimeRevenue SCF Platform, EFN can enable corporations and banks to finance suppliers located in Mexico and around the world, connecting them with funds from Mexican as well as non-Mexican financial institutions. Through the partnership, EFN brings to Latin America the first multi-bank solution that equips global corporations with the ability to integrate international subsidiaries’ supply chain finance programs on a single platform. Headquartered in Monterrey, Mexico, EFN team vision is to bring working capital solutions for Global Corporations and their Suppliers by designing joint strategies for Supply Chain Finance
management. For more information, visit http://www.efactornetwork.com.
About PrimeRevenue, Inc.
For Global 2000 organizations who view their supply chains as a strategic asset and are seeking to increase supply chain efficiency and optimize working capital, 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 working capital 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