PrimeRevenue,Inc., the leading platform for optimizing cash flow and working capital inglobal financial supply chains, announced today that one of its key partnershas been named the Best Supply Chain Finance Bank in North America by TradeFinance magazine.
The annualsurvey from Trade Finance magazine ranks firms based on votes from industryplayers and members of the editorial team. Respondents including manufacturers,exporters, importers, traders, multilateral agencies, and other clients andindustry partners selected BMO as the best North American bank helping businessesoptimize working capital in a fast-changing regulatory environment.
BMO CapitalMarkets, the investment and corporate banking arm of BMO Financial Groupleverages PrimeRevenue’s supplychain finance product suite, OpenSCi, to help deliver its award-winningworking capital solutions for buyers and suppliers. By using the PrimeRevenueOpenSCi solution, leading corporations in various industries are able to extendtheir payment terms without negatively impacting their suppliers. The workingcapital solution allows suppliers to get paid on their own schedule and generatesubstantial cash flows. This results in a win-win situation optimizing workingcapital for the buyer and generating more cash flow for the supplier, thusminimizing risk throughout the supply chain.
â€œSupplychain finance is a powerful way for leading banks such as BMO to strengthentheir customer relationships and align their offerings with their customers’evolving needs. BMO is constantly on the lookout for ways to improve theperformance of our customers’ financial supply chains and extend our share ofthis growing market,â€ said Peter Grills, Managing Director, Trade Finance, BMOCapital Markets.
â€œPrimeRevenueis happy to support BMO’s supply chain finance initiative with OpenSCi,â€ saidDan Juliano, Senior Vice President, Business Development & Partnerships,PrimeRevenue, Inc. â€œOur efforts enhance the delivery of best-in-class workingcapital solutions to companies across the globe. We look forward to continuedsuccess.â€
Fororganizations that view their supply chains as a strategic asset and areseeking to increase supply chain efficiency, PrimeRevenue has the answer.PrimeRevenue provides cash flow to more than 15,000 clients through its OpenSCisuite which offers the control and flexibility required by organizations to optimizetheir working capital as well as reduce costs and risks throughout thefinancial supply chain. Headquartered in Atlanta, PrimeRevenue also has officesin London, Paris, Frankfurt, Prague, Melbourne, and Hong Kong. PrimeRevenueoperates some of the largest supply chain finance programs for clients aroundthe globe. For more information or to contact us, please visit http://www.primerevenue.com