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ATLANTA, GA, August 20, 2013 /24-7PressRelease/ -- The 2013 Working Capital Technology Guide released by Global Business Intelligence (GBI), a leader in financial services research, reaffirms PrimeRevenue's position as a market leader in supply chain finance. The full report can be viewed online: http://bit.ly/1bs1F73.
The findings of the study indicate that with large corporates like Volvo, Whirlpool, and Johnson Controls spending billions of dollars annually on ingredients, commodities, and manufactured goods, a substantial market opportunity exists for their suppliers to receive financing of their invoices using a supply chain financing solution. These solutions, like PrimeRevenue OpenSCiTM, offer both technology and alternative sources of funding.
Large corporates acknowledge the fact that supplier onboarding is handled seamlessly by PrimeRevenue's dedicated online supplier financing onboarding tool, SciEnableTM, which encompasses both customer service requirements and technical implementation services despite the increasingly global nature of supply chain finance. Supplier finance adopters have identified effective and far-reaching supplier onboarding as a critical process contributing to achieving the full impact of a successful supply chain finance implementation.
With an estimated 200 financial supply chain programs run both domestically and cross-border in multiple currencies and with simultaneous rollouts across many legal entities, these programs require multi-bank solutions because of credit limits and capital issues at banks. With 40 financial institutions providing funding, the multi-banking capability of the OpenSCi platform was recognized as a key advantage allowing easy replacement of one funder for another without disruptions and employing consistent standards and processes.
"The GBI Guide comparatively rates PrimeRevenue as the global leader in the global supply chain finance market. The survey and review from OpenSCi clients and the guide validates our multi-bank solution and best-in-class services," said Dan Juliano, Vice President, Business Development & Partnerships, PrimeRevenue, Inc. "Our OpenSCi product suite facilitates enhanced communication between departments, helping drive greater efficiency in these demanding economic times."
For more information about supply chain financing, please visit PrimeRevenue at http://www.primerevenue.com.
About Global Business Intelligence
Global Business Intelligence conducts consortium and proprietary research covering the Supply Chain. Founded in 1997 and headquartered in Canada, their partners share over 60 years of experience and offer their clients skill sets in consulting, banking, technology, and sales and operations of financial services. They work with senior executives involved in trade organizations, wholesale banking organizations, global transportation, banks, insurers, and global trade management vendors. The 2013 Working Capital Technology Guide is available on their website at www.globalbanking.com.
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 12,000 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 of the largest supply chain finance programs for clients around the globe. For more information or to contact us, please visit http://www.primerevenue.com.
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