Companies Thaw Credit Freeze With PrimeRevenue Supply Chain Finance Solution
PrimeRevenue has reported strong demand for supply chain finance as companies struggle to source liquidity in today’s credit-constrained environment. PrimeRevenue’s SCF PlatformTM is an online network that links global companies (buyers), their suppliers (suppliers), and third-party financial institutions in a secure web environment. Through supply chain finance, suppliers of all sizes can access financing based on the credit risk profile of the large buyer. The company says this serves to both increase the availability and drive down the cost of financing for suppliers, reducing cost and financial risk throughout the buyer’s supply chain. A network of financial institutions provides liquidity to fund early payment requests. Approximately 300 new suppliers have been added to the SCF Platform – totaling a spend volume of US$5.8bn – in the six months ending September 2008.