PrimeRevenue OpenSCi™ provides Suppliers with cash prepayment on their invoices, through multiple financing methods, with speed, accuracy and ease of use. Payments to Suppliers are made electronically and with no fees for ongoing access to the OpenSCi platform.
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Benefits of PrimeRevenue OpenSCi™ for Suppliers includes:
- Faster Cash from outstanding Receivables
- Complete Supplier option and control over elected trades
- Compelling Alternative to Expensive A/R factoring or loans
- No Debt = Better Balance Sheet and stronger Credit
- Visibility on all approved receivables
- Reduced Disputes, Collection and Cash Application Costs
- Remittance Advice with Credit Memo application
- Automated processes using Supplier limits and timing
- Trade reporting and analysis
The OpenSCi SCiSupplier™ solution provides payment visibility and certainty regarding their approved receivables from specific Buyers. The SCiCustomer™ solution delivers early payment for receivables across a great number of your Buyer-customers. These solutions free cash faster than ever before from the supply chain and are available to Suppliers at a time when cost of financing - and for many, mere access to financing - is under severe stress in today's credit markets. Now, more than ever, Suppliers are seeing strong value in SCF solutions.
PrimeRevenue OpenSCi even provides Suppliers full remittance information - information normally provided at a high cost in traditional payment solutions. Payment cycles are reduced to as little as 48 hours. In fact, the entire OpenSCi trading process - from input of receivable information to payment to the Supplier - is fast, automated and secure.