Atlanta—Oct. 1, 2012—Ohio-based consumer products manufacturer Winston Products LLC implemented PrimeRevenue’s OpenSCi Supply Chain Finance (SCF) platform to unlock cash trapped in accounts receivables and accelerate cash flow on its varying payment terms.
“Having a liquidity source such as PrimeRevenue to accelerate payment on our accounts receivables is quite valuable for us,” said Laura Keck, Director of Finance, Winston Products LLC. “The ease of receiving payment based on our requirements is a feature we treasure the most about PrimeRevenue SCF.”
As a user of PrimeRevenue’s cloud-based, multi-bank, multi-currency SCF platform, Winston Products tracks customer-approved invoices online and has the ability to select invoices for early payment. However, as a user of the ‘Auto-Trade’ feature on the SCF platform, Winston Products’ invoices are traded automatically for early payment at a pre-determined frequency. Payment accelerated using PrimeRevenue’s SCF platform is disbursed electronically to Winston Products’ preferred bank account on the next business day.
“Winston Products joins thousands of suppliers who view PrimeRevenue OpenSCi SCF as a valuable tool to optimize working capital,” said Matt Doorley, Vice President and General Manager for the Americas region, PrimeRevenue. “In a cash-strapped economy, uninterrupted access to cash is the topmost priority for every business, and PrimeRevenue assists suppliers to achieve this objective.”