Tuff Automation Accelerates Cash Flow with PrimeRevenue Supply Chain Finance

Atlanta, GA (PRWEB) December 10, 2012

Tuff Automation, Inc., a U.S based manufacturer of industrial machinery, recently opted to use PrimeRevenues OpenSCi Supply Chain Finance (SCF) solution to speed payments and optimize working capital.

The OpenSCi SCF solution that has been adopted by over 9,000 companies worldwide, offers a web-based portal for online invoice visibility and to accelerate customer payment. The OpenSCi platform allows users to view customer-approved invoices online and to track receivables and payments. Additionally, companies have the option to receive early payment on these invoices ahead of the maturity date.

We decided to become a PrimeRevenue customer to offset the impact of an unfavorable payment term, said Gretchen Richmond, Accountant, Tuff Automation, Inc. Though we explored various alternatives, they were quite expensive. Today, with PrimeRevenues SCF solution, we are able to select invoices for early payment based on our preference and at a fairly low cost. Overall, our company has derived many benefits as a result of using SCF.

As a PrimeRevenue customer, Tuff Automation has become part of a community of thousands of suppliers utilizing the OpenSCi SCF solution for reducing DSO (days sales outstanding), improving cash flow and optimizing working capital, said Matt Doorley, vice president and general manager for the Americas region, PrimeRevenue. In the current times when liquidity is constrained, companies around the world have been relying on SCF as an instrument to increase available cash without adding any debt to their balance sheet. And at PrimeRevenue, our efforts have been focused towards providing the most transparent SCF solution that helps such companies in achieving their cash flow objectives.

About Tuff Automation, Inc.



Established in 1992, Tuff Automation, Inc. is based in Grand Rapids, Michigan. The company specializes in the manufacturing of automated material handling equipment & controls, including conveyors, transfers, lifts, pushers, rotators & robot feed cells, turn-key material handling solutions & controlled atmosphere equipment. For more information, visit http://www.tuffautomation.com.

About PrimeRevenue, Inc.



For Global 2000 organizations who view their supply chains as a strategic asset and are seeking to increase supply chain efficiency and optimize working capital, PrimeRevenue is the leading provider of multi-bank Supply Chain Finance (SCF) technology and services. The PrimeRevenue OpenSCi SCF platform and working capital advisory services provide these organizations with the control and flexibility required to drive superior working capital results, reducing cost and capital risk throughout their supply chains and forging stronger supplier relationships. 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 of the largest SCF programs for customers around the globe. For more information, visit http://www.primerevenue.com

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Contact:



Oana Leventi-Perez



PrimeRevenue, Inc.



(o)+1-404-665-3768



(c)+1-678-368-2583



oleventiperez(at)primerevenue(dot)com

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PrimeRevenue Introduces SCiEnable, a Revolutionary Supply Chain Finance Onboarding Tool

WM88 Transitions from Factoring to Supply Chain Finance

Atlanta, GA (PRWEB) February 04, 2013

WM88, a France-based importer of home decoration items transitioned from factoring to utilize working capital benefits delivered by PrimeRevenue OpenSCi Supply Chain Finance (SCF).

The PrimeRevenue OpenSCi supply chain finance solution has enabled WM88 to accelerate cash flow by way of selling customer-approved invoices on the OpenSCi platform. The platform also provides users with the ability to view customer-approved invoices online and to track maturity payments, including adjusting existing credit memos and accessing associated reports for audit purposes. Being a user of the Auto-Trade facility on OpenSCi, WM88 is able to sell invoices at a pre-determined frequency without having to log-in manually to perform the trade to receive early payment.

Having access to liquidity that is provided by the PrimeRevenue OpenSCi supply chain finance solution is of tremendous value to us. We used factoring previously. That technique was not only expensive but we were able to receive only 90 percent of the invoice value upfront since the rest was used to offset the banks risk, said Bernard Soyer, accountant, WM88. However, when we transitioned to supply chain finance we realized the benefits we had been missing all this time. We now receive full payment at a rate much lower than the rate that was charged when we factored our receivables.

WM88 is a classic example of why companies that used factoring will transition to supply chain finance. We have many companies using our OpenSCi platform with experience similar to WM88, said Eric Riddle, vice president and general manager for Europe, PrimeRevenue. The cash flow advantage of early invoice payment provided by our OpenSCi supply chain finance solution addresses many of the negative challenges that factoring users experience. PrimeRevenue provides the most comprehensive, transparent supply chain finance solution to complement the efforts of participating companies to speed cash flow and optimize working capital.

About PrimeRevenue, Inc.



For Global 2000 organizations who view their supply chains as a strategic asset and are seeking to increase supply chain efficiency, PrimeRevenue is the leading provider of multi-bank Supply Chain Finance (SCF) technology and services. The PrimeRevenue OpenSCi SCF platform and working capital advisory services provide these organizations with the control and flexibility required to drive superior SCF results, reducing cost and capital risk throughout their supply chains and forging stronger supplier relationships. 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 of the largest SCF programs for customers around the globe. For more information, visit http://www.primerevenue.com

###



Contact:



Oana Leventi-Perez



PrimeRevenue, Inc.



(o)+1-404-665-3768



(c)+1-678-368-2583



oleventiperez(at)primerevenue(dot)com

Author information

ReallyTeam

via WordPress http://www.reallymelbourne.com.au/wm88-transitions-from-factoring-to-supply-chain-finance/