Atlanta—Dec. 10, 2012—Tuff Automation Inc., a U.S.-based manufacturer of industrial machinery, utilizes PrimeRevenue’s OpenSCi Supply Chain Finance (SCF) solution to speed payments and optimize working capital.
“We decided to become a PrimeRevenue customer to offset the impact of an unfavorable payment term,” said Gretchen Richmond, Accountant, Tuff Automation Inc. “Though we explored various alternatives, they were quite expensive. Today, with PrimeRevenue’s SCF solution, we are able to select invoices for early payment based on our preference and at a fairly low cost. Overall, our company has derived many benefits as a result of using SCF.”
The OpenSCi SCF solution offers a Web-based portal for online invoice visibility and to accelerate customer payment. The OpenSCi platform allows users to view customer-approved invoices online and to track receivables and payments. Additionally, companies have the option to receive early payment on these invoices ahead of the maturity date.
“As a PrimeRevenue customer, Tuff Automation has become part of a community of thousands of suppliers utilizing the OpenSCi SCF solution for reducing days sales outstanding (DSO), improving cash flow and optimizing working capital,” said Matt Doorley, Vice President and General Manager for the Americas region, PrimeRevenue. “In the current times when liquidity is constrained, companies around the world have been relying on SCF as an instrument to increase available cash without adding any debt to their balance sheet. And at PrimeRevenue, our efforts have been focused towards providing the most transparent SCF solution that helps such companies in achieving their cash flow objectives.”