OB10 and PrimeRevenue partner to provide streamlined Supply Chain Finance solution

Partnership improves P2P process for clients; industry-leading on-demand financing for their suppliers

ATLANTA, September 30, 2009 – PrimeRevenue, the leading global Supply Chain Finance (SCF) platform and solutions provider, and OB10, the leading global e-Invoicing network, have announced a partnership which combines SCF and e-Invoicing for Fortune 1,000 companies and their suppliers. 

“The synergies created by our two companies bring added value to our customers and their suppliers,” said Jamie Gunn, CEO – OB10.  “e-Invoicing significantly reduces the cycle time to process an invoice, thereby allowing companies to extend early payment terms to their suppliers.  While credit markets have softened, our clients often want to hold onto their cash as long as possible, contrasted with their suppliers who need the cash as soon as possible. PrimeRevenue bridges that gap”.

Customers who leverage the OB10 Network and PrimeRevenue’s on-demand SCF Platform will add significant value to their suppliers.  Suppliers who have customers that are enabled on the PrimeRevenue SCF platform can advance payment on receivables of their choice.

“This collaboration ensures that our customers and their suppliers gain greater efficiency, visibility and flexibility in their invoicing, payment and cash flow management processes,” said PJ Bain, CEO – PrimeRevenue.  “Our companies are uniquely-positioned to offer premier, best of breed solutions to our growing customer base, designed to simplify and speed the entire invoice to payment process to the benefit of both sides of the trading partner relationship.”

The OB10-PrimeRevenue collaboration is operational at a global Fortune 500 manufacturer of major home appliances.  Suppliers submitting invoices via the OB10 Network have access to on-demand advance payment of their receivables at attractive financing rates which are based on the investment-grade Buyer’s cost of financing.

OB10 and PrimeRevenue are hosting a joint webinar on October 15th at 2:00PM EST, entitled “e-Invoicing and Supply Chain Finance, the intersection of two best practices”.  To register for this free webinar, go to https://ob10.webex.com/ob10/onstage/g.php?t=a&d=702173605 

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About OB10
OB10 (www.OB10.com) is the leading global B2B e-Invoicing network.  OB10 simplifies and streamlines the complex invoice-to-pay processes. Neither client organisations nor their suppliers are required to implement any hardware or software, and OB10 is independent of data file formats.  OB10 can reduce the cost of paper invoice processing by typically 60 percent and can deliver an ROI in less than a year if the programme follows OB10’s best practice guidelines. Operational across Europe, North America and Asia, OB10 is compliant with the requirements of VAT, tax and e-Invoicing legislation and receives invoices from suppliers in over 100 countries.  To ensure unrivalled and rapid supplier enrolment, each new customer’s suppliers are supported by an implementation services team responsible for getting them up and running on the OB10 network.  

Customers include: Agilent Technologies, Aviva, BP, Barclays, Cargill, DHL, DSG International, Eli Lilly & Company, Fisher Scientific, General Motors, GlaxoSmithKline, Hewlett Packard, IBM, Kellogg’s, Kraft, Logica, Lufthansa, Mohawk Industries, Motorola, Pfizer, SaraLee, Schneider Electric, Shaw Industries, Steria, US Federal Government, VWR International and Xerox.

Company Contact
Ernie Martin, Marketing Manager, OB10
tel: 770-668--1346
ernie.martin@OB10.com
www.OB10.com

Press Contact
Jackie Parker, Vice President, Arketi Group
tel: 404-929-0091, ext. 220
jparker@arketi.com
www.arketi.com

OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law.

About PrimeRevenue, Inc.
PrimeRevenue's leading 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 stronger trading partner relationships. Headquartered in Atlanta, Georgia, PrimeRevenue has offices and customers throughout the world. For more information, visit www.primerevenue.com.

Media Contact
Bob Kramer
VP Working Capital Solutions
+1-678-904-7103
pr@primerevenue.com

Company Contact
Dan Juliano, VP Business Development
+1 678-904-7101
djuliano@primerevenue.com