Converting Data to Business Transparency

By Matt Ford • Published August 10, 2022 • 4 minute read

As we continue to deal with pandemic and geopolitical-related supply chain disruptions, transparency and supply chain certainty has become more and more important to focus on. We’ve seen these disruptions significantly shake up buying patterns in the last year.

We’ve moved from just-in-time to just-in-case supply chains and buyers focusing on supply chains being closer to the markets they serve.

The bargaining power buyers have over their suppliers can stem from a variety of factors, such as price, size, diversification and so on. But one differentiating way to cooperate with your suppliers is to partner with them by adding value and visibility.

When you provide visibility into payment times and transparency, decoupling payment time from payment term, you enable your suppliers to plan their business and know how to supply you.

How Does PrimeRevenue Help You?

Supply chains are only as strong as their weakest link. When you onboard all suppliers through one technology solution and channel all invoice details through it, suppliers gain visibility into the longest part of the invoice cycle–from approval to payment.

Business transparency can be offered at different levels, and that sliding scale has an impact on how business relationships endure as a whole.

Most suppliers have a limited scope of what is happening with their payments. A lack of visibility here often leads to supplier frustration and an influx of inquiries and resource use on the buyer’s side.

Transparency is a valuable solution to building better relationships between buyers and suppliers. There is an increased level of trust and cooperation when data is accessible. This value is significantly boosted for premium customers who receive:

  • Visibility with future paid invoices
  • Cash flow forecasting
  • Scheduled remittance advice
  • Document tracking

PrimeRevenue’s platform not only fosters positive relationships, but also makes providing transparency simple and streamlined. Using a single platform for B2B payment services, we specialize in automating the accounts payable process for the entire supply chain, including the smallest of suppliers. The combination of automation and visibility decreases accounts payable inquiries. This is due to smaller suppliers having visibility via the platform into what invoices have been approved and exactly when payment for those invoices will be made. We also manage vendors and bank accounts digitally, alleviating a significant operational burden to the buyer.

Our technology is all about accelerating global commerce by unlocking working capital and streamlining B2B payments. You can optimize payments for your entire supply chain and understand how to tap into working capital locked within it by leveraging our proprietary data analytics.

Reach out to our dedicated and knowledgeable team to get started on providing transparency to your suppliers and efficiency to your business.