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B2B payments platform launches to optimize early and on-time payment for global supply chains

Nov 9, 2021 | News, Working Capital

In 2014, after doing extensive market research along with years of experience in the finance industry, Emuel Schoeman and Willem le Roux started Addendum Financial Technologies and with this, started marketing PrimeRevenue’s global, market-leading supply chain finance solution to businesses in South Africa.

PrimeRevenue, Inc. is the leading provider of technology-enabled B2B payments and working capital solutions. They have recently announced a new innovation: The PrimeRevenue SurePay Platform. The SurePay Platform will also be offered by Addendum Financial Technologies. As the first tool of its kind, the SurePay Platform streamlines B2B payment services to enable easy and accessible early and on-time payment solutions for the entire supply chain.

Since 2003, PrimeRevenue’s core offering has historically focused solely on early payment solutions such as supply chain finance, dynamic discounting, and accounts receivable finance. As the global business landscape evolves, PrimeRevenue has developed additional solutions that address a broader range of B2B payment needs.

The SurePay Platform ensures every supplier gets paid on time, every time by simplifying the B2B payments ecosystem. Customers can consolidate their entire supplier base onto one simple-to-use payments tool, eliminating cumbersome and manual processes that are costly, time-consuming, and error-prone. As a result, clients save costs and streamline AP/AR processes.

“The PrimeRevenue SurePay Platform automates the AP/AR payment process, so once approved invoices hit our system, the platform handles the rest,” said Gavin Cicchinelli, COO of PrimeRevenue. “Suppliers can confidently manage their cash flow with an intuitive platform that provides comprehensive reporting, transparency into invoice approval status, visibility into upcoming payments, automated remittance advice reporting, and so much more.”

Global businesses face many payment challenges, from jurisdictional payment regulations and lack of standardized payment terms to the administrative burden that comes with managing multiple ERP systems or payment platforms.

“At its core, PrimeRevenue has always been a payments company,” said PJ Bain, CEO of PrimeRevenue. “As we grow, a natural evolution for PrimeRevenue is to expand into a new sphere of B2B payments. For us, that means developing innovative solutions that serve the entire supply chain – regardless of industry, jurisdiction, currency, or early payment offering.”

To find out more about the SurePay Platform and how it could benefit your business, please get in touch with our Supply Chain Finance team.

*This article was originally published on PrimeRevenue.com and adapted for Addendum.co.za

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About Addendum

Addendum provides supply chain finance and funding solutions to companies and funders in Africa. Please contact us for more information about how we can unlock value for your business.

Addendum provides financial technology solutions to companies and funders and aims to become the benchmark for best execution in our targeted markets. Our fintech solutions are capable of unlocking capital and funding for businesses of all sizes. We have designed real-time, online solutions that make markets transparent and products simple and seamless to execute.

Where others saw a barricaded, antiquated machine, we saw possibility. With transparency, convenience and choice as founding principles, Addendum puts you in charge. We believe that a small change to your business strategy – an addendum – can open a world of potential for your business.