Breaking the Barriers to Supply Chain Finance in Latin America

New Video Series Documents Success in PrimeRevenue-eFactor Network Partnership, Part 1 Since 2009, PrimeRevenue and eFactor Network (EFN), 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. Since the partnership was established, EFN has deployed PrimeRevenue’s supply chain financing solution to over 30 companies including Tiendas Comercial Mexicana, Bachoco and Nemak and onboarded thousands of suppliers throughout Latin America and globally. Additionally, EFN works with over 10 funders financing these transactions (such as IFC, Bancomext and Movex) in different currencies including the Mexican Peso, Euro, Great Britain Pounds and US Dollars. Recently, PrimeRevenue’s Senior Vice President of Business Development, Dan Juliano, sat down with EFN’s CEO, Hector de la Garza for a video interview to discuss the latest developments in supply chain finance in Latin America.

In part 1 of this 4-part video series, Juliano and De La Garza discuss the reasons why EFN chose to partner with PrimeRevenue, including the company’s desire to expand its own financial offerings into the larger, international arena. While supply chain finance was an established solution in Mexico at the time, the supply chain as a whole – outside of Mexico and certainly outside of Latin America was not funded, said De La Garza. Through this strategic partnership, EFN was able to bring the first global, multi-funding solution to Latin America and equip corporations with the ability to integrate international subsidiaries supply chain finance programs on a single platform. EFN is now able to offer a more complete supply chain finance solution that works for international corporations of all sizes, including both the import and export sides of the operations. We learned an entirely new way to run supply chain finance programs, De La Garza added.

In part 2 of the video series, De La Garza says the company’s move toward a single solution achieved through PrimeRevenue actually provides more flexibility for EFN’s clients in the long run. Now, he said, PrimeRevenue makes it possible to connect different banks and non-bank funders to suppliers in a variety of scenarios and across different geographies in a way that EFN had never been able to before.