Atlanta—March 19, 2012—Supplier of frozen seafood, Aqua Star (Europe) recently enrolled to use PrimeRevenue Inc.’s Supply Chain Finance (SCF) platform to better optimize cash flow. Additionally, Aqua Star (Europe) is able to mobilize cash flow ahead of invoice maturity on select invoices by making use of the early payment option available to SCF platform users at a transaction cost based on their customer’s credit rating.
As an SCF program participant, Aqua Star (Europe) has access to PrimeRevenue’s Web-based multi-bank, multi-currency SCF platform which offers it visibility and payment date certainty of their approved customer invoices.
“When we were offered the option of using PrimeRevenue to receive early payment on our receivables, we did not realize the value we would derive from the SCF platform," said David Hall, Finance Director, Aqua Star (Europe). “However, today, we are glad to say that the PrimeRevenue Platform empowered us with cash certainty that is an absolute requirement governed by the nature of our business. Our access to the SCF platform has placed us in a better position to plan our cash flow needs.”
“We are quite delighted to have Aqua Star (Europe) on-board deriving cash flow benefits offered by the PrimeRevenue Supply Chain Finance solution,” said Joe Weisskopf, Vice President of Global Supplier Solutions, PrimeRevenue Inc. “We hope they maximize the value generated for their business similar to the thousands of suppliers who are currently using our SCF platform to optimize cash benefits.”
