Strategic partnership announced between Tradeshift and PrimeRevenue
Electronic invoicing provider Tradeshift has announced a strategic partnership with PrimeRevenue a SaaS platform for global Supply Chain Finance (SCF).
SCF and e-invoicing, although often existing in separate spheres, when combined form a powerful symbiotic relationship. e-Invoicing is able to strengthen the business case for SCF by providing access to real-time data and speeding up invoice approval cycles for Buyers. Meanwhile, SCF provides further incentives for long tail suppliers to adopt the e-invoicing platform by providing access to new funding opportunities and improving overall payment cycles.
“PrimeRevenue processes over $53bn in transactions annually and provides more than $18bn in on-demand, low cost financing to 8,900+ suppliers in 37 countries and 17 currencies,” said PJ Bain, PrimeRevenue CEO. “PrimeRevenue OpenSCi™, our global, multi-bank, multi-currency SCF platform helps corporations improve supplier relationships while managing payables and maximizing working capital. We look forward to future growth through this strong partnership,” concluded Bain.