GT Midwest Enhances Working Capital with PrimeRevenue Supply Chain Finance

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Kansas-based distributor of industrial supplies derives cash flow benefits through PrimeRevenue’s Supply Chain Finance Solution.

PrimeRevenue OpenSCi supply chain finance; working capital improvement; accelerate cash flow
It is based on the experience and feedback from suppliers that the PrimeRevenue team has been able to evolve and provide features on the OpenSCi™ platform that companies such as GT Midwest can leverage for accelerating cash flow ~ Matt Doorley

GT Midwest, Kansas-based distributor of industrial supplies and safety equipment, recently opted to join the PrimeRevenue Supply Chain Finance (SCF) community with the objective of accelerating cash flow. The distributor was invited by its customer, a leading manufacturer of turf and landscape maintenance equipment, to join the SCF program that was implemented in partnership with PrimeRevenue, to experience benefits associated with early payment.

As part of the supply chain finance program implementation, GT Midwest was offered enrollment on the PrimeRevenue OpenSCi™ SCF platform for accelerating invoice payments from their customer. This multi-bank, multi-currency, web-based platform has enabled GT Midwest to view their approved invoices online and provides them with the ability to receive payment well ahead of invoice maturity. The early payment option is available to all SCF platform users at a low transaction cost based on their customer’s credit rating.

“The primary reason for us to join the SCF program was to improve our cash flow position. Additionally, the payment process through the OpenSCi™ platform fit very well with our internal processes and as a result we were quite motivated to join the program,” said Sally Blasi, Controller, GT Midwest. “Currently, as a user of the OpenSCi™ platform, we are glad to say that we are pleasantly surprised with the ease of use, timing of early payment and the seamless experience that the platform provides.”

“Currently, more than 12,000 suppliers around the globe are deriving considerable value by using the PrimeRevenue OpenSCi™ SCF platform,” said Matt Doorley, VP & GM (Americas), PrimeRevenue, Inc. “It is based on the experience and feedback from these suppliers that the PrimeRevenue team has been able to evolve and provide features on the OpenSCi™ platform that companies such as GT Midwest can leverage for accelerating cash flow without incurring any debt.”

About GT Midwest    
GT Midwest is a division of GT Sales & Manufacturing which is an employee-owned manufacturer and distributor of a wide-range of products and materials for industry and commerce. For more information, visit: http://www.gtmidwest.com/

About PrimeRevenue, Inc.
For organizations who view their supply chains as a strategic asset and are seeking to increase supply chain efficiency, PrimeRevenue is the answer. Providing cash flows to more than 12,000 buyers and suppliers through the OpenSCi™ platform with the control and flexibility required to drive superior results and reduce cost and capital risk throughout their financial supply chains. 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 the largest supply chain finance programs for clients around the globe. For more information or to contact us, please visit http://www.primerevenue.com

Originally posted on: http://primerevenue.com/

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Oana Leventi-Perez
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Supply Chain Finance; Working Capital Improvement