Why Financing Their Payables and Receivables on a Single Platform is Key for Companies in Latin America

New Video Series Documents Success in PrimeRevenue-eFactor Network Partnership, Part 2 Since 2009, PrimeRevenue and eFactor Network, a Mexican provider of technology for financing operations for national and international corporations have worked together to provide supply chain finance solutions to the Mexican and Latin American market. EFN has deployed PrimeRevenue’s supply chain financing solution to over 30 companies onboarding thousands of suppliers throughout Latin America and globally. Recently, PrimeRevenue’s Senior Vice President of Business Development, Dan Juliano, sat down with eFactor Network’s CEO, Hector De La Garza for a video interview to discuss the unique supplier financing opportunities they now offer, and how the expansion of supply chain finance into this market has benefited eFactor Network and its customers.

In part 3 of the 4-part video series, Juliano and De la Garza discuss how the supply chain finance solutions offered through the PrimeRevenue-eFactor partnership have helped companies in the Mexican and Latin American market better meet their working capital needs. “Corporations frequently ask How can I mitigate my requirements? and How can I mitigate my working capital needs?” said De La Garza. Through PrimeRevenue’s product suite, eFactor has found a way to completely support the working capital initiatives of Mexican buyers and support not only their local suppliers but also their international trading partners across multiple currencies and geographies. More recently, De La Garza said eFactor is talking to their customers about a receivables financing solution. Once again, eFactor is looking to PrimeRevenue to meet this demand through PrimeRevenue’s accounts receivable finance solution. An integral part of PrimeRevenue’s suite, Receivables Finance allows suppliers to sell their invoices for early payment well before the actual due date and, in most cases, without any involvement from their customers. The problem with receivables finance is risk management, said De La Garza. This risk varies by industry, and some industries need more help mitigating risk than others. PrimeRevenue’s receivables finance program helps eFactor clients get financing from both bank and non-bank funders based on specific requirements, on an international level and through a single IT solution.

Overall, both Juliano and De La Garza agree the PrimeRevenue-eFactor partnership has been very successful. In part 4 of the video series, De La Garza identifies EFN’s ability to translate PrimeRevenue’s product suite to the Latin America market as one of their main success factors. Even though PrimeRevenue and eFactor operate in different markets, he said, companies worldwide face similar financial supply chain management issues. Working capital is working capital. Our local expertise coupled with PrimeRevenue’s global reach and cutting edge technology allow us to provide customized, best-in-class solutions that exceed our customer’s expectations and provide them a competitive edge.