PrimeRevenue Announces Key Milestones - $200B in Trailing Twelve Months Payments Processed
Wednesday, June 13th, 2018
PrimeRevenue, Inc., the world's largest non-bank originator of trade finance assets, announces the company has doubled the volume of payments processed in under two years. The company processed more than $200 billion in trade payment transactions in the trailing 12 months which is more than double the transactions in 2016.
This significant increase represents a three-year transaction volume compound annual growth rate of more than 35%. Additionally, the company advanced more than $23 billion in early payments to suppliers globally during Q1 2018.
Other key milestones include:
More than $1.5 billion in cash flow gains generated for buyer clients over the past 12 months ending May 2018.
Average days sales outstanding (DSO) improvement of more than 80 days for suppliers electing to advance their invoiced receivables for early payment.
"We remain incredibly bullish about the state of the global economy and expect continued strength over the next 12 months," states PJ Bain, CEO of PrimeRevenue. "While trade tensions appear to be ratcheting up, the state of global economic demand, combined with an eagerness for cash flow improvement by both buyers and suppliers is driving significant gains across our business."
PrimeRevenue attributes this record growth to increased supplier trading activity, which is why the company continues to make additional investments in its technology.
"We are thrilled that more suppliers are choosing supply chain finance to head off the cash flow challenges brought on by industry transformations and innovative disruptions. We're also working to make it even easier for suppliers to do business with us. For example, in April we made key enhancements to our supplier payment processes, making bank account information even more secure, easier to set up and more efficient for suppliers."