The Atlanta Georgia financial supply chain specialist PrimeRevenue Inc has announced a new strategic partnership with Detroit-based Supplier Success, LLC, a company focused on working capital and unlocking cash flow in the supply chain.
The partnership addresses a long-standing need between corporations and their suppliers - particularly among minority business enterprises (MBEs) - to reduce the time it takes for suppliers to get paid while helping buying organizations improve working capital, capture discounts, and strengthen their supply chain. On average, US based SME suppliers trade roughly 90 percent of all invoices presented for early payment on the PrimeRevenue platform, which advances more than $60 million to American SMEs each day.
“We know firsthand how difficult it is for suppliers to gain quick access to low-cost capital,” remarked Louis Green, CEO of Supplier Success. “By partnering with PrimeRevenue, we can now offer the industry’s leading early payment and supplier financing solution to corporations looking to become compliant with President Obama’s SupplierPay initiative.”
Prior to founding Supplier Success, Mr. Green served as the President and CEO of the Michigan Minority Supplier Development Council, where he facilitated over $137 billion in contracts between corporations and certified minority businesses. He also worked with leadership in Washington D.C. to craft the recent SupplierPay initiative.
“Support of MBE’s has been a priority for many forward thinking companies for a long time,” said Dan Juliano, Senior Vice President, Business Development and Product. “Supply Chain Finance adds a whole new dimension for how companies can support MBEs and bring working capital efficiency at competitive rates. Supplier Success is uniquely positioned to deliver this value and the PrimeRevenue suite of products and services.”