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.
OB10 and PrimeRevenue are hosting a joint webinar on October 15th at
2:00PM EST, entitled “e-Invoicing and Supply Chain Finance, the
intersection of two best practices.” To register for this free webinar,
go to https://ob10.webex.com/ob10/onstage/g.php?t=a&d=702173605
About PrimeRevenue, Inc.
PrimeRevenue's leading global Supply Chain Finance (SCF) platform
and solutions enable dramatic new working capital efficiencies for the
benefit of buyers and their suppliers. PrimeRevenue achieves this
through the delivery of secure, robust, industry-leading technology, a
global community of the world’s most innovative financial institutions
and partners, and flexible working capital solutions and advice.
Companies are relying on SCF deployments powered by PrimeRevenue to
increase profitability, remove risk from their supply chain, and forge
stronger trading partner relationships. Headquartered in Atlanta,
Georgia, PrimeRevenue has offices and customers throughout the world.
For more information, visit www.primerevenue.com.
About OB10
OB10 (www.OB10.com)
is the leading global B2B e-Invoicing network. OB10
simplifies and streamlines the complex invoice-to-pay processes. Neither
client organisations nor their suppliers are required to implement any
hardware or software, and OB10 is independent of data file formats.
OB10 can reduce the cost of paper invoice processing by typically
60 percent and can deliver an ROI in less than a year if the programme
follows OB10’s best practice guidelines. Operational across Europe,
North America and Asia, OB10 is compliant with the requirements of VAT,
tax and e-Invoicing legislation and receives invoices from suppliers in
over 100 countries. To ensure unrivalled and rapid supplier
enrollment, each new customer’s suppliers are supported by an
implementation services team responsible for getting them up and running
on the OB10 network.
Customers include: Agilent Technologies, Aviva, BP, Barclays, Cargill,
DHL, DSG International, Eli Lilly & Company, Fisher Scientific, General
Motors, GlaxoSmithKline, Hewlett Packard, IBM, Kellogg’s, Kraft, Logica,
Lufthansa, Mohawk Industries, Motorola, Pfizer, SaraLee, Schneider
Electric, Shaw Industries, Steria, US Federal Government, VWR
International and Xerox.
OB10 and the OB10 logo are trade marks of OB10 Limited and are protected
by law.
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