Demand for Working Capital Solution Drives PrimeRevenue and Setien I eFactor Agreement.
Partnership brings best of breed Supply Chain Finance offering to Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies.
ATLANTA Atlanta (ətlăn`tə, ăt–), city (1990 pop. 394,017), state capital and seat of Fulton co., NW Ga., on the Chattahoochee R. and Peachtree Creek, near the Appalachian foothills; inc. 1847. -- PrimeRevenue, the leading provider of supply chain finance solutions, is extending its offering in Latin America through a new partnership with Setien I e-Factor, a company well-known for building connected supplier communities that facilitate Latin America's prominent role in international trade.
The economic recession has generated working capital challenges for buyers and their suppliers the likes of which have not been seen in decades. Buyers are feeling pressure to dramatically reduce working capital, while suppliers are strongly disposed dis·pose
v. dis·posed, dis·pos·ing, dis·pos·es
1. To place or set in a particular order; arrange.
2. to collect cash more quickly in a credit-constrained environment. Supply Chain Finance offers an effective means to bridge the gap.
"We are pleased to be working with a partner of Setien's calibre calibre
see caliber. and reputation in delivering to the Latin American market the first global, multi-bank, multi-currency platform to support supply chains in that region," said Joe Juliano, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , PrimeRevenue. "We expect that there will be strong demand in Latin America, as we are witnessing worldwide, for Supply Chain Finance solutions given working capital challenges in today's economic climate."
"We selected PrimeRevenue as our Supply Chain Finance partner because they have demonstrated years of leadership in this area," said Hector de la Garza, CEO, Setien I e-Factor. "Additionally, we wanted to offer our customers the best options by working with a provider that supports a multi-bank platform, while at the same time giving our banking partners the ability to participate in a manner consistent with their credit appetite."
PrimeRevenue was recently named Best Supply Chain Finance Company by Financial-i Magazine as part of the publication's 2008 Leaders in Innovation Awards. To learn more about PrimeRevenue's solutions and the results they can deliver, please visit www.primerevenue.com.
About Setien I e-Factor
Setien I e-Factor's primary goal is to deliver Supply Chain Finance solutions for corporations and financial institutions located in Mexico and Latin America. The company has extensive experience working with e- factoring solutions in Mexico since 2001. With PrimeRevenueos SCF SCF Service Canadien des Forêts (Canadian Forest Service)
SCF Stem Cell Factor
SCF Scientific Committee on Food (European Commission)
SCF Service Canadien de la Faune Platform, Setien I e-Factor can enable corporations and banks to finance suppliers located in Mexico and around the world, connecting them with funds from Mexican Mexican
named after or originating in Mexico.
Mexican beaded lizard
(Heloderma horridum as well as non-Mexican financial institutions. Through the partnership, Setien I e-Factor brings to Latin America the first multi-bank solution that equips global corporations with the ability to integrate international subsidiaries' supply chain finance programs on a single platform. Headquartered in Monterrey, Mexico, Setien I e-Factor is an affiliate company of Setien, SA de CV, the largest privately owned commodities trading company in Mexico with offices in the Americas and Asia. For more information, visit www.efactornetwork.com.
About PrimeRevenue, Inc.
PrimeRevenue's leading global Supply Chain Finance A global supply chain refers to the network created among different world-wide companies producing, handling, and distributing specific goods and/or products.
Global supply chain finance (SCF) platform and solutions enable dramatic new working capital efficiencies for the benefit of buyers and their suppliers. PrimeRevenue achieves this through the delivery of secure, robust, industry-leading technology, a global community of the world's most innovative financial institutions and partners, and flexible working capital solutions and advice. Companies are relying on SCF deployments powered by PrimeRevenue to increase profitability, remove risk from their supply chain, and forge forge
Open furnace for heating metal ore and metal for working and forming, or a workshop containing forge hearths and related equipment. From earliest times, smiths (see smithing) heated iron in forges and formed it by hammering on an anvil. stronger trading partner relationships. Headquartered in Atlanta, Georgia Georgia, country, Asia
Georgia (jôr`jə), Georgian Sakartvelo, Rus. Gruziya, officially Republic of Georgia, republic (2005 est. pop. 4,677,000), c.26,900 sq mi (69,700 sq km), in W Transcaucasia. , PrimeRevenue has offices and customers throughout the world. For more information, visit www.primerevenue.com.