Supplier Finance allows buyers to minimize the risks to continuity of supply by allowing their suppliers to get paid earlier at attractive financing terms. ~ Dan Juliano, PrimeRevenue, Inc.
Atlanta, GA (PRWEB) April 14, 2014
PrimeRevenue, Inc., the solution provider for optimizing cash flow in global financial supply chains, and Big Lots, Inc. a Fortune 500 retail corporation, are partnering at the 2014 Buckeye Financial Forum on April 14 in Ohio to co-present a case study which highlights the role of supply chain finance as a strategic lever for leading organizations. The presentation will highlight ways Big Lots uses the PrimeRevenue OpenSCiTM solution to provide early payment terms to their suppliers and help them generate additional cash flow.
Titled “Supply Chain Finance: The Strategic Lever for Working Capital Improvement” the presentation will be delivered by Dan Juliano, vice president of business development and partnerships, PrimeRevenue, Inc. and Jared Poff, vice president and treasurer, Big Lots, Inc. “Many suppliers are undergoing financial duress and buying organizations are concerned about the stability of their supply chain,” said Juliano. “Supplier Finance has become a powerful way to addresses those challenges simultaneously. It allows buyers to minimize the risks to continuity of supply by allowing their suppliers to get paid earlier at attractive financing terms,” added Juliano.
Big Lots, America’s largest broadline closeout retailer, uses the Supplier Finance solution powered by PrimeRevenue to allow suppliers to get paid immediately by selling their receivables to a financial institution at a very efficient and transparent cost. “By using Supply Chain Finance to allow our suppliers to receive early payment based on attractive financing rates we are able to further support our key trading partners. Furthermore, PrimeRevenue’s enablement and support services can lower costs, improve communication and ensure successful adoption and participation from our suppliers. Supply Chain Finance works for us, and it works for many of our suppliers,” concluded Poff.
About Big Lots, Inc.
Big Lots is America’s largest broadline closeout retailer, operating 1,495 BIG LOTS stores in 48 states.
About PrimeRevenue, Inc.
For organizations that view their supply chains as a strategic asset and are seeking to increase supply chain efficiency, PrimeRevenue has the answer. PrimeRevenue provides cash flow to more than 14,000 buyers and suppliers through their OpenSCi platform which offers the control and flexibility required by organizations to optimize their working capital and reduce costs and risks throughout the financial supply chain. Headquartered in Atlanta, PrimeRevenue also has offices in London, Paris, Frankfurt and Prague, as well as in Melbourne and Hong Kong, and operates some the largest supply chain finance programs for clients around the globe. For more information or to contact us, please visit http://www.primerevenue.com.