Atlanta—June 18, 2012—ALRO N.V., a provider of surface treatment services to the automotive industry, implemented PrimeRevenue’s Supply Chain Finance (SCF) solution to improve their financial health and cash flow.
“The PrimeRevenue SCF platform helped us recover and survive in a tough economic environment,” said Bert Bammens, Financial Controller, ALRO N.V. ”The ability to accelerate payment improved our operating cash flow and consequently enhanced our working capital. The platform is of immense value to us and if we stop using the platform today, we would experience a severe impact.”
By using PrimeRevenue’s Web-based multi-bank, multi-currency SCF platform, ALRO was able to receive payment well ahead of the agreed payment terms with their customer. ALRO used the ‘instant-pay’ option to receive accelerated payment that enhanced their operating cash flow and improved their financial strength. Additionally, ALRO was able to view their approved invoices and credit memos online within days of invoice submission leading to faster discovery and resolution of invoice discrepancies.
“We are very pleased to see the significant value that PrimeRevenue has been providing to thousands of suppliers around the globe” said Joe Weisskopf, Vice President of Global Supplier Solutions, PrimeRevenue. “That value results from our ability to reduce cost, working capital and financial risk in the supply chain for both suppliers and their customers. ALRO’s rebound from the financial crisis is yet another example of how we drive value.”