The Best Supply Chain Finance Bank in North America is Using PrimeRevenue OpenSCi
Atlanta, GA, August 26, 2014 – PrimeRevenue, Inc., the leading platform for optimizing cash flow and working capital in global financial supply chains, announced today that one of its key partners has been named the Best Supply Chain Finance Bank in North America by Trade Finance magazine.
The annual survey from Trade Finance magazine ranks firms based on votes from industry players and members of the editorial team. Respondents including manufacturers, exporters, importers, traders, multilateral agencies, and other clients and industry partners selected BMO as the best North American bank helping businesses optimize working capital in a fast-changing regulatory environment.
BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group leverages PrimeRevenue’s supply chain finance product suite, OpenSCi, to help deliver its award-winning working capital solutions for buyers and suppliers. By using the PrimeRevenue OpenSCi solution, leading corporations in various industries are able to extend their payment terms without negatively impacting their suppliers. The working capital solution allows suppliers to get paid on their own schedule and generate substantial cash flows. This results in a win-win situation optimizing working capital for the buyer and generating more cash flow for the supplier, thus minimizing risk throughout the supply chain.
“Supply chain finance is a powerful way for leading banks such as BMO to strengthen their customer relationships and align their offerings with their customers’ evolving needs. BMO is constantly on the lookout for ways to improve the performance of our customers’ financial supply chains and extend our share of this growing market,” said Peter Grills, Managing Director, Trade Finance, BMO Capital Markets.
“PrimeRevenue is happy to support BMOs supply chain finance initiative with OpenSCi,” said Dan Juliano, Senior Vice President, Business Development & Partnerships, PrimeRevenue, Inc. “Our efforts enhance the delivery of best-in-class working capital solutions to companies across the globe. We look forward to continued success.”