PrimeRevenue Company Highlights

OB10 and PrimeRevenue partner to provide streamlined Supply Chain Finance solution

Wed, 30 Sep 2009 7:00:00 EST

PrimeRevenue, the leading global Supply Chain Finance (SCF) platform and solutions provider, and OB10, the leading global e-Invoicing network, have announced a partnership which combines SCF and e-Invoicing for Fortune 1,000 companies and their suppliers.� "The synergies created by our two companies bring added value to our customers and their suppliers," said Jamie Gunn, CEO - OB10. "e-Invoicing significantly reduces the cycle time to process an invoice, thereby allowing companies to extend early payment terms to their suppliers.�While credit markets have softened, our clients often want to hold onto their cash as long as possible, contrasted with their suppliers who need the cash as soon as possible. PrimeRevenue bridges that gap". Customers who leverage the OB10 Network and PrimeRevenue's on-demand SCF Platform will add significant value to their suppliers.�Suppliers who have customers that are enabled on the PrimeRevenue SCF platform can advance payment on receivables of their choice. "This collaboration ensures that our customers and their suppliers gain greater efficiency, visibility and flexibility in their invoicing, payment and cash flow management processes," said PJ Bain, CEO - PrimeRevenue.�"Our companies are uniquely-positioned to offer premier, best of breed solutions to our growing customer base, designed to simplify and speed the entire invoice to payment process to the benefit of both sides of the trading partner relationship." The OB10-PrimeRevenue collaboration is operational at a global Fortune 500 manufacturer of major home appliances.�Suppliers submitting invoices via the OB10 Network have access to on-demand advance payment of their receivables at attractive financing rates which are based on the investment-grade Buyer's cost of financing.

SunGard to Lead Panel Discussion on Practical Applications of Supply Chain Financing Solutions at Upcoming AFP Conference

Mon, 28 Sep 2009 21:00:00 EST

SunGard will lead a panel consisting of Volvo, Big Lots, Aite Group, and PrimeRevenue to explore how organizations are implementing and benefiting from supply chain financing. The panel will be held at this year's annual AFP Conference set for October 4-7 in San Francisco, CA. When: Tuesday October 6; 10:30am � 12:00pm Title: "Practical Applications of Supply Chain Financing Solutions" Summary: Learn more about the world of Supply Chain Finance, its benefits, and how automating the financial supply chain and employing networked financial services can help reduce cost of capital and create an advantaged EcoSystem. Speakers: SunGard, Big Lots, Volvo AB, Aite Group, PrimeRevenue SunGard's AvantGard has partnered with PrimeRevenue to offer improved connectivity and data transmission to help facilitate Supply Chain Finance (SCF). The PrimeRevenue platform links trading partners (buyers and their suppliers) and financial institutions to a common network. Through the SCF Platform, buyers upload approved invoices (their payables) for payment at a future date. AvantGard can supply these files directly from the AvantGard Receivables solution. The buyer's suppliers can view their receivables, and may opt to trade receivables as selected for early payment, less a low financing fee based on the buyer's credit rating. Participating financial institutions fund the early payment requests. AvantGard's solutions for receivables, treasury and payments management can help companies gain increased transparency and access to data for use of the platform.

Pep Boys Revs Up Supply Chain Finance Offering with PrimeRevenue

Tue, 8 Sep 2009 10:00:00 EST

The Pep Boys - Manny, Moe " Jack (NYSE: "PBY"), the nation's leading automotive aftermarket service and retail chain, announced the deployment of PrimeRevenue's Supply Chain Finance ("SCF") platform to bolster its working capital strategy and deliver increased shareholder value. The program is live and in production with select suppliers in the United States, with funding available through Bank of America Merrill Lynch and Wells Fargo HSBC Trade Bank and is being expanded into Canada. By virtue of the program, Pep Boys suppliers on the SCF Platform gain online visibility into Pep Boys payments that are due to them. The SCF Platform also provides suppliers enhanced on-demand receivables financing through an early payment facility. "Pep Boys has always seen the importance of managing working capital closely, and this has never been truer for us and our suppliers than in today's challenging automotive environment" said Vice President - Finance and Treasurer of Pep Boys, Bernie McElroy. "The PrimeRevenue SCF Platform helps Pep Boys achieve working capital objectives while giving our suppliers access to industry-leading technology that provides a valuable line of sight into their Pep Boys receivables and the ability to accelerate payment, on demand." PJ Bain, PrimeRevenue CEO said: "Pep Boys represents another in a series of innovative world-class companies that deploy PrimeRevenue's Supply Chain Finance Platform to optimize financial flows in their supply chain, for their own benefit and that of their suppliers. Importantly, the multi-funder capabilities of the PrimeRevenue SCF Platform assures Pep Boys that liquidity for its program is available from multiple funding providers as its program evolves".

PrimeRevenue Selected Best Supply Chain Finance Platform

Thu, 3 Sep 2009 10:00:00 EST

PrimeRevenue, the leading global Supply Chain Finance (SCF) platform and solutions provider enabling dramatic new working capital efficiencies for the benefit of buyers and their suppliers, was selected by Global Trade Review (GTR) readers as the best supply chain finance platform in the publication's annual reader poll. The announcement was made in GTR's September/October publication. Rebecca Spong, editor of Global Trade Review, said: "GTR readers voted for their favourite trade services and supply chain providers in record numbers this year. Upwards of 3,000 individual votes were cast. Our readers are among the most knowledgeable and informed practitioners in the trade finance space, so this recognition is a strong testament to PrimeRevenue, as it is to all whom our readers have voiced their praise". PJ Bain, PrimeRevenue CEO said: "We are honored to have been selected by GTR readers as the best supply chain finance platform. PrimeRevenue consistently ranks at the top of the solution providers in the space, and, increasingly our multi-bank supply chain finance platform is seen as the standard against which others are compared. Corporations achieving working capital objectives with SCF see in PrimeRevenue a technology solution that is reliable and secure, enablement services that are industry-leading, and a funding model that is flexible and able to accommodate one or multiple preferred banking partners."

The Toro Company Partners with PrimeRevenue and Wells Fargo to Improve Working Capital

Tue, 11 Aug 2009 8:00:00 EST

The Toro Company (NYSE: TTC), a leading worldwide provider of turf and landscape maintenance equipment and precision irrigation systems, has deployed PrimeRevenue's technology and services with financing provided by Wells Fargo HSBC Trade Bank (NYSE: WFC) to power Toro's Supply Chain Finance ("SCF") program.�The SCF program is an important component in the company's action plan to reduce working capital, improve its cash conversion cycle, and deliver increased shareholder value. Through the new platform, Toro suppliers will gain online visibility to their Toro-generated receivables in advance of their due date, and the option to sell receivables for cash in advance of the original due date - with financing provided by Wells Fargo.�With a click of the mouse, enabled Toro suppliers gain access to on-demand advance payment of their receivables at financing rates based on Toro's cost of financing.�For most Toro suppliers, SCF financing will be a fraction of what they pay with alternative invoice discounting structures. The program, launched in July 2009, is live and in production with select suppliers in the United States.�

PrimeRevenue Bolsters Leadership With New CEO

Fri, 7 Aug 2009 14:00:00 EST

PrimeRevenue, the leading provider of Supply Chain Finance (SCF) solutions, announced the appointment of Paul Jeffrey "PJ" Bain as Chief Executive Officer. Joe Juliano will continue his contribution to PrimeRevenue as an active member of the board of directors. An award-winning SCF solutions and services leader, PrimeRevenue has earned a reputation for world-class performance of systems and solutions and an unrivalled supplier enablement and on-boarding methodology. PrimeRevenue attained profitability in 2008 and to date in 2009 its strong operational performance continues as PrimeRevenue processed over $45 billion in payments on an annualized basis in 45 buyer programs worldwide with thousands of supplier accounts enabled and onboarded in over 26 countries. PrimeRevenue currently processes approximately 50,000 transactions per day, while customer and financial institutions users have experienced system up-time of over 99.9%.

RBS joins forces with Sainsbury's in leading supplier financing programme powered by PrimeRevenue

Tue, 9 Jun 2009 09:00:00 EST

The Royal Bank of Scotland (RBS) announces today that it will become the funding provider for Sainsbury's Trading Finance Platform (TFP), effective June 19, 2009. The TFP, which was launched in 2007, is a UK retail industry first.�This internet-based payment management system, developed by PrimeRevenue, is designed to make it quicker and easier for suppliers to access account information and to benefit from early payments. Darren Shapland, Chief Financial Officer, Sainsbury's, said, "Since the launch of our Trading Finance Platform in 2007, we have witnessed a significant increase in the number of suppliers utilising the platform to better manage their cash flow. We are delighted that RBS, a key relationship bank, has agreed to provide funding for the programme going forward. We believe RBS' participation offers considerable scope to grow the programme and further improve liquidity throughout our supply chain." Brian Stevenson, Chief Executive of Global Transaction Services, RBS, said: "We are proud to be bringing our expertise to this innovative solution for suppliers.�As the UK's largest corporate bank, RBS is committed to supporting the needs of UK businesses, and trade finance is an integral part of this.�Moreover, at a time when many companies are recognising the value of supporting the finance needs of their suppliers, Sainsbury's is demonstrating clear leadership with this programme.�We look forward to strengthening our relationship with Sainsbury's and supporting their supply chain objectives through this programme in the future."

PrimeRevenue Secures US$3 Million Growth Financing from MMV Financial

Tue, 5 May 2009 09:00:00 EST

PrimeRevenue, a leading provider of Supply Chain Finance solutions, announces the completion of a US$3.0 million venture loan from Toronto-based MMV Financial. The Company provides a combination of technology solutions and services that links buyers, their suppliers, and financing providers and helps both buyers and suppliers to optimize working capital and to mitigate financial risk in the supply chain. PrimeRevenue is privately held with investment from Battery Ventures, RRE Ventures and other angels.

Demand for Working Capital Solution Drives PrimeRevenue and Setien I eFactor Agreement

Wed, 18 Mar 2009 11:45:00 EST

PrimeRevenue, the leading provider of supply chain finance solutions, is extending its offering in Latin America through a new partnership with Setien I e-Factor, a company well-known for building connected supplier communities that facilitate Latin America's prominent role in international trade.

PrimeRevenue, SCC Swiss Commercial Capital Partner to Assist Companies with Working Capital Initiatives

Thu, 12 Mar 2009 11:45:00 EST

ATLANTA and ZURICH, March 12, 2009: PrimeRevenue and Swiss Commercial Capital, leading providers of supply chain finance solutions, have signed an agreement to jointly address the working capital needs that Global 2000 companies, their supply chains and distribution channels face in today's volatile economic environment.

PrimeRevenue Spotlights Supply Chain Finance in GM, Chrysler Restructuring Plans

Tue, 24 Feb 2009 11:45:00 EST

ATLANTA, GA, February 24, 2009: PrimeRevenue's Supply Chain Finance (SCF) proposal to provide financial assistance to US automotive suppliers won key nods last week as General Motors and Chrysler (the OEMs) each independently proposed a supply chain financing or 'quick pay' solution among their recommendations to address the imminent cash flow requirements of the US automotive supply base. Supply Chain Finance was the only supplier assistance option proposed by both GM and Chrysler.

PrimeRevenue Named Best Supply Chain Finance Company

Fri, 6 Feb 2009 09:00:00 EST

ATLANTA, GA, February 6, 2009: PrimeRevenue, the leading provider of supply chain finance solutions, today announced that it has been named Best Supply Chain Finance Company by Financial-i Magazine. PrimeRevenue was selected as part of the publication's 2008 Leaders in Innovation Awards within the Treasury and FX category.

PrimeRevenue Sees $50 Billion Benefit for Big Three and Suppliers With Government-Backed Finance Option

Thu, 15 Jan 2009 13:51:45 EST

ATLANTA, GA, December 12, 2008: PrimeRevenue described a program today outlining how a US government-backed initiative could provide 18 to 24 months or more in operational cashflow for the Big Three and their US-based direct suppliers. The value of the supply chain finance program, which could be deployed within a few weeks, is highlighted by recent published reports of automotive suppliers seeking cash advance payment on receivables in light of the current financial turmoil in the industry.

Companies Thaw Credit Freeze With PrimeRevenue Supply Chain Finance Solution

Thu, 15 Jan 2009 13:51:45 EST

ATLANTA, GA, October 14, 2008: PrimeRevenue reported strong demand for Supply Chain Finance as companies struggle to source liquidity in today's credit-constrained environment.

Global Finance Chooses PrimeRevenue as Best SCF Platform

Thu, 15 Jan 2009 13:51:45 EST

Atlanta, GA, July 9, 2008: PrimeRevenue, Inc. was named as World's Best Supply Chain Finance Provider in two of Global Finance magazines seven categories for global providers. PrimeRevenue was named as Best Web-based Supply Chain Financing Solution, and was jointly honored with Volvo Group as Best Customer Implementation of Supply Chain Financing Solution.