As a global company, PrimeRevenue recognizes the needs of our clients across multiple geographies. The PrimeRevenue OpenSCi™ solution provides companies in France with the ability to address new regulatory requirements affecting supplier payment terms. These new rules-implemented in 2009 are part of what is widely known as the LME, the Law for the Modernization of the Economy in France.
With historical payment terms between 90 and 105 days, French companies must reduce these terms to 60 days net or 45 days end of month from the date of an invoice, as part of LME requirements. This reduction in payment terms has a significant negative impact on payables and cash flow for large Corporates, potentially reducing cash flow by over €100 Million per €1 Billion in spend.
To learn more about how PrimeRevenue OpenSCi is utilized under the new French LME regulations please contact us.