Aqua Star Derives Early Cash Flow Benefits With PrimeRevenue Supply Chain Finance
Aqua Star selects PrimeRevenue to address its short term liquidity concerns
Atlanta, GA (PRWEB) - A leading supplier of frozen seafood, Aqua Star (Europe) recently enrolled to use the PrimeRevenue Supply Chain Finance (SCF) platform with the objective to optimize cash flow. By joining the SCF program launched by its customer, a leading UK retailer, Aqua Star (Europe) has become part of the evolving supplier community who view PrimeRevenue SCF as an indispensable source of operating cash flow for their businesses.
As a SCF program participant, Aqua Star (Europe) has access to PrimeRevenue's web-based multi-bank, multi-currency SCF platform that offers the seafood supplier visibility and payment date certainty of their approved customer invoices. Additionally, Aqua Star (Europe) has been able to mobilize cash flow well ahead of invoice maturity on select invoices by making use of the early payment option available to SCF platform users at a transaction cost based on their customer's credit rating.
"When we were offered the option of using PrimeRevenue to receive early payment on our receivables, we did not realize the value we would derive from the SCF platform," said David Hall, Finance Director, Aqua Star (Europe). "However, today, we are glad to say that the PrimeRevenue Platform has empowered us with cash certainty that is an absolute requirement governed by the nature of our business. Our access to the SCF platform has placed us in a better position to plan our cash flow needs.
"We are quite delighted to have Aqua Star (Europe) on-board deriving cash flow benefits offered by the PrimeRevenue Supply Chain Finance solution," said Joe Weisskopf, vice president of global supplier solutions, PrimeRevenue, Inc. "We hope they maximize the value generated for their business similar to the thousands of suppliers who are currently using our SCF platform to optimize cash benefits."
About Aqua Star (Europe)
Aqua Star (Europe) is at the forefront of global seafood business, focused on sourcing, processing and delivering quality seafood products from around the world. Through strategic partnerships and group processing facilities, Aqua Star has extensive experience in delivering premium seafood products. For more information, please visithttp://www.aquastareu.com.
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, Frankfurt and Prague in Europe, as well as in Melbourne, Australia, and operates some of the largest SCF programs for customers around the globe. For more information, visit http://www.primerevenue.com
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