October 01, 2012
Winston Products LLC, an Ohio based manufacturer of consumer products, recently became part of the PrimeRevenue OpenSCi™ Supply Chain Finance (SCF) community to unlock cash trapped in accounts receivables. A supplier to many leading retailers, Winston Products faces varying payment terms and thus accelerating cash flow is of prime importance.
As a user of PrimeRevenue’s cloud-based, multi-bank, multi-currency SCF platform, Winston Products tracks customer-approved invoices online and has the ability to select invoices for early payment. However, being a user of the ‘Auto-Trade’ feature on the SCF platform, Winston Products’ invoices are traded automatically for early payment at a pre-determined frequency. Payment accelerated using PrimeRevenue’s SCF platform is disbursed electronically to Winston Products’ preferred bank account on the next business day.
“Having a liquidity source such as PrimeRevenue to accelerate payment on our accounts receivables is quite valuable for us,” said Laura Keck, Director of Finance, Winston Products, LLC. “The ease of receiving payment based on our requirements is a feature we treasure the most about PrimeRevenue SCF.”
“Winston Products joins thousands of suppliers who view PrimeRevenue OpenSCi™ SCF as a valuable tool to optimize working capital,” said Matt Doorley, Vice President and General Manager for the Americas region, PrimeRevenue. “In a cash-strapped economy, uninterrupted access to cash is the topmost priority for every business, and PrimeRevenue assists suppliers to achieve this objective.”
About Winston Products, LLC
Winston Products LLC is an integrated consumer products company. The company focuses on product development and utilizes domestic and international manufacturing to serve markets in the US, Europe, South America, South Africa and Australia. The company was incorporated in 2004 and is based in Cleveland, Ohio. For more information, visit: http://www.winstonproducts.us/
About PrimeRevenue, Inc.
For Global 2000 organizations who view their supply chains as a strategic asset and are seeking to increase supply chain efficiency, PrimeRevenue is the leading provider of multi-bank Supply Chain Finance (SCF) technology and services. The PrimeRevenue OpenSCi™ SCF platform and working capital advisory services provide these organizations with the control and flexibility required to drive superior SCF results, reducing cost and capital risk throughout their supply chains and forging stronger supplier relationships. Headquartered in Atlanta, Georgia, USA, PrimeRevenue also has offices in London, Paris, and Prague in Europe, as well as in Melbourne, Australia, and Hong Kong SAR, and operates some of the largest SCF programs for customers around the globe. For more information, visit http://www.primerevenue.com
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/10/prweb9958639.htm