Working capital management is a strategic priority for today’s corporations working to simplify cash management. Working capital is key in the conduct of business, even more so in the conduct of trade across borders where complexities abound, timelines extend and liquidity is a necessity in slower economic times as well as growth periods. When companies are able to free up working capital, operations run more smoothly and business growth can be achieved.
There are several factors however, including volatility in the global marketplace, historically low-interest rates, restricted access to capital and regulatory uncertainty (think Basel III) that all made it harder for small- and medium-sized enterprises to rely on traditional bank funding as a source for this working capital. As a result, many treasurers and trading partners at leading corporations are starting to proactively seek non-traditional working capital finance solutions that help them speed up the conversion of receivables and payables into cash, minimize operational costs, capture critical information and reduce the overall risk to their supply chain.
Many of those organizations are looking to PrimeRevenue’s OpenSCi as the key to fast cash flow and improved working capital. OpenSCi allows our clients to optimize working capital and to strengthen their financial supply chain. Funding is available in over 70 countries and 30 currencies from 50 bank and non-bank funders, giving organizations control and flexibility required to unlock more cash from their supply chains.
If you would like more information about PrimeRevenue’s approach to working capital management and the benefits of multi-funding solutions, I will be participating in a live Q&A, Simplifying cash management with trade finance platforms at the GTR Americas West Coast Trade & Working Capital Conference 2015, which is being held at The Fairmont San Jose in San Jose, US on November 19th. Hope to see you there!