TRADESHIFT Partners with PrimeRevenue

Joint venture enables customers to adopt both supply chain finance and e-invoicing

San FranciscoOct. 15, 2012—Business platform provider TRADESHIFT partnered with PrimeRevenue, a Software as a Service (SaaS) platform provider for global Supply Chain Finance (SCF). As a result of the joint venture, PrimeRevenue will continue to provide enterprises with the tool set they need to achieve full supplier adoption and 100 percent electronic invoicing.

“TRADESHIFT was built on the principle that enterprise solutions need to deliver value to companies on either end of the transaction—both buyers and suppliers,” said Christian Lanng, Chief Executive Officer, TRADESHIFT. “This is the only way we will ever see full adoption of platforms by suppliers, and it is the only way large enterprises will achieve 100 percent electronic invoicing. TRADESHIFT partnering with PrimeRevenue improves the business case for all our customers to adopt both supply chain finance and e-invoicing. Both are vital services, but bundling them will help trading partners obtain the most value.”

PrimeRevenue and TRADESHIFT will be able to bundle their respective services to provide a unique offering to their customers. TRADESHIFT’s e-invoicing technology provides services for PrimeRevenue to process approved invoices in SCF programs, faster and more efficiently. The PrimeRevenue OpenSCi solution delivers TRADESHIFT customers a bank-independent SCF platform with access to funding from over 34+ financial institutions. The TRADESHIFT platform is utilized by 140,000 businesses across the globe while PrimeRevenue manages over 80+ active SCF programs worldwide.

PrimeRevenue processes over $53 billion in transactions annually and provides more than $18 billion in on-demand, low cost financing to 8,900+ suppliers in 37 countries and 17 currencies,” said PJ Bain, Chief Executive Officer, PrimeRevenue.PrimeRevenue OpenSCi, our global, multi-bank, multi-currency SCF platform, helps corporations improve supplier relationships while managing payables and maximizing working capital. We look forward to future growth through this strong partnership.”

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