PrimeRevenue Announces Record First-Quarter Results

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Leading Supply Chain Finance Provider Announces Continued Growth and Innovation

PrimeRevenue Inc., the leading SaaS platform for global Supply Chain Finance (SCF), today announced results for the first quarter of 2013 ending March 31.

Notable achievements include:

  • The successful launch of SCiEnable™, the revolutionary supply chain finance onboarding tool on the PrimeRevenue OpenSCi™ platform.
  • The successful launch of SCiDraft™, the electronic time drafts product on the PrimeRevenue OpenSCi™ SCF platform. SCiDraft™ offers Buyers, Suppliers, and Financial Institutions substantially reduced administrative and legal overhead costs when compared to traditional SCF programs, as well as fewer jurisdictional limitations in the creation and negotiation of electronic time drafts to enable the financing of receivables through supply chain finance.
  • Continued track record of Year-over-Year (YOY) growth.
  • New buyer programs, with over 90 facilities currently managed in North America, Europe, and Australia/Asia.
  • An increase in the number of financial institutions (FIs) with 40 available to provide liquidity on a global basis.
  • Steady increase in the number of Suppliers on the OpenSCi™ platform.

"It has been another outstanding quarter for PrimeRevenue, as we continue to deliver and add to the leading, innovative supply chain finance product suite in OpenSCi™, and grow at an industry-leading rate,” said PJ Bain, CEO, commenting on the Company’s performance. “The launch of our new SCF products, SCiEnable™ and SCiDraft™ allows us to provide increasing value to our growing global customer base, and positions us for long-term growth. It is a very exciting time to be at PrimeRevenue and lead the expansion of the SCF market, and we look forward to continuing this momentum,” 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, Frankfurt 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

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Contact:
Oana Leventi-Perez
PrimeRevenue, Inc.
(o)+1-404-665-3768
(c)+1-678-368-2583
oleventiperez(at)primerevenue(dot)com

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