Quadrem and PrimeRevenue Form
Strategic Alliance to Provide
Supply Chain Finance Solutions
Partnership to Offer Working Capital Optimization to
24,000 Suppliers
ATLANTA, GA, December 6, 2005 — PrimeRevenue,
Inc., an industry-leading provider of supply chain finance
solutions, announced today that it has been selected by Quadrem
for its Supply Chain Finance Platform™ which will be
utilized by over 24,000 Quadrem customers. This innovative
solution will help Quadrem’s customers reduce working
capital and total costs for all trading partners through improved
cash flow visibility and on-demand, low cost, receivables
finance.
PrimeRevenue’s Supply Chain Finance Platform will power
Quadrem’s new QuickPay™ service and will
be fully integrated with Quadrem’s community of Buyers
and Suppliers, adding to the efficiency gains already achieved.
Quadrem (www.quadrem.com),
the leading global e-marketplace serving the mining, minerals
and metals, oil and gas and consumer packaged goods industries,
provides e-business solutions that connect Buyers and Suppliers
to maximize supply chain efficiencies.
“Quadrem’s customers have been looking for advanced,
effective working capital initiatives and this is a great
solution for both Quadrem and their Buyers and Suppliers,”
said Joseph Juliano, CEO, PrimeRevenue. “QuickPay
will allow these organizations to drive these gains to the
very core of their business - cash flow generation, Return
on Invested Capital (ROIC), and Economic Value Added (EVA).”
“We teamed up with PrimeRevenue because they offer
an easy-to-use, effective and proven Platform that can support
our global customer base,” said Charles Jackson, CEO,
Quadrem. “PrimeRevenue’s knowledge and expertise
in the supply chain finance market is unmatched and has led
to the development of superior technology that will provide
extremely compelling value for our customers.”
Quadrem customers in the United States, Canada, South Africa
and Australia can leverage the new Supplier finance solution
immediately, with roll-out to other regions expected in 2006.
About PrimeRevenue, Inc.
PrimeRevenue is a supply chain financial services company
that provides automated Supplier Finance, Payables Presentment
and Financial Settlement services to Global 2000 organizations
and their Suppliers. When PrimeRevenue is part of an organization’s
financial supply chain strategy, costs throughout the supply
chain are reduced, working capital efficiency improved and
Supplier relationships enhanced. Headquartered in Atlanta,
Georgia, PrimeRevenue has offices and customers throughout
the world. For more information on PrimeRevenue, visit www.primerevenue.com.
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