PrimeRevenue’s Exclusive Electronic Time Drafts Solution Granted Additional Patent Protections
By • Published February 1, 2021 • 3 minute read
Third patent for proprietary supply chain finance solution reaffirms commitment to expanding suppliers’ access to cash
ATLANTA, February 1, 2021 – PrimeRevenue, Inc., the leading platform for working capital finance solutions, announces the U.S. Patent Office has granted the company a continuation patent for its Electronic Time Drafts (ETD) solution. PrimeRevenue currently holds a total of four trade finance patents, including three for its exclusive ETD solution.
The company’s ETD solution reduces friction in onboarding suppliers to PrimeRevenue-led supply chain finance programs. PrimeRevenue’s patented technology waives the need for UCC filings and expedites suppliers’ access to cash by eliminating lien releases. It removes the need for paper and manual intervention in conducting supply chain finance (SCF) transactions and allows drafts to remain in purely electronic form throughout the duration of the draft discounting process.
“Innovation is one of PrimeRevenue’s core values, and we pride ourselves on embodying an innovative spirit in all that we do. I am pleased at the recognition that the U.S. Patent Office has provided with this continuation patent, and I look forward to continuing to develop new products that deliver more value to our clients,” said David Quillian, Chief Legal Officer for PrimeRevenue. Quillian designed the company’s ETD solution in 2011.
PrimeRevenue has multiple additional patents pending for its working capital finance solutions.
About PrimeRevenue
PrimeRevenue’s supply chain finance (reverse factoring) solutions help organizations in 80+ countries optimize their working capital to efficiently fund strategic initiatives, gain a competitive advantage and strengthen relationships throughout the supply chain. As the leading provider of working capital financial technology solutions, PrimeRevenue’s diverse multi-funder platform processes more than $250 billion USD in payment transactions per year. The company is headquartered in Atlanta, with offices in London, Prague, Hong Kong and Melbourne. Additional information about PrimeRevenue can be found at www.primerevenue.com | Twitter: @primerevenue | LinkedIn: www.linkedin.com/company/primerevenue.
