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| Oliver Belin of PrimeRevenue, Inc., a solution provider at the marcus evans CFO Summit XXX Spring 2015, discusses how to improve working capital. |
NEW YORK, N.Y., May 12, 2015 - (ACN Newswire) - "Leading companies reap competitive advantage from managing their supply chains as a strategic asset," according to Oliver Belin, Vice President Receivables Finance, PrimeRevenue, Inc. "In today's dynamic and global environment, maintaining a strong, efficient, and secure financial supply chain has become critical," he adds.
PrimeRevenue, Inc., a solution provider for working capital finance will attend the marcus evans CFO Summit XXX Spring 2015, taking place in Palm Beach, Florida, May 14-16.
- What is troubling CFOs with their financial supply chain?
Since the 2008 financial crisis, managing and optimizing working capital has been a top challenge. In a recent survey by CFO magazine, 83 percent of CFOs of large multinationals indicated working capital as a key challenge and focus for the coming years.
- Why is a strong, efficient and secure financial supply chain critical?
Many companies today are actually competing more between their supply chains instead of the companies themselves. Which suppliers do they work with? How do they manage the risk of disruptions? How can they work with suppliers to generate benefits for both parties? These are all critical questions for the C-suite - we saw how the Fukushima nuclear disaster and floods in Thailand disrupted or stopped the physical supply chain of large companies. But just as essential is the financial supply chain, which is exposed to similar risks of disruption.
- How could they better manage and improve their working capital?
One option is to get external cash or liquidity, in the form of a loan or other financial liability. However, there are three key supply chain strategies used by companies to improve working capital. Companies can improve their cash flow by collecting payments from their clients earlier, managing the inventory more efficiently, or paying suppliers later. Such strategies will not impact the balance sheet negatively.
- What is your definition of a successful financial supply chain?
Most companies have a siloed view of their financial supply chain. They look at improving their own metrics, paying suppliers later or collecting money from clients earlier without considering the effect of such strategies on their trading counter-party. But now they are starting to realize that the entire supply chain is key to being competitive. If they pay suppliers later, it will have a negative impact on that partner.
This has changed their view of what financial supply chain success means. They are looking for a long-term funding solution without any financing disruption.
For instance, if funding stops, which can happen quite often, it can have a huge negative effect on their financial supply chain. To secure the long-term continuity of their programs, CFOs and treasurers should diversify their funding pool by working with many different financial institutions using a multi-funder platform.
- Why do CFOs need one common platform for this?
An independent, common platform gives CFOs the flexibility and security they need in case certain banks stop their support. By using a multi-funder platform that is not dependent on a single bank relationship, organizations are able to reduce the risk of funding disruptions, unlock more cash from their supply chain and grow their financing program without any limitations.
Companies with multinational supply chains have suppliers all over the world providing their products and services in multiple currencies and based in multiple legal jurisdictions. That means they need financing for each jurisdiction, which may include emerging countries such as Vietnam or Bangladesh. Today there is no bank or financial institution that can provide this support at attractive rates in every country and currency. Thus CFOs must either set up separate programs, which takes time and is difficult to manage, or, alternatively, work with one independent multi-funder platform, a single legal structure that allows them to add financing as the supply chain finance program grows in different countries.
About the CFO Summit XXX Spring 2015
The CFO Summit XXX is the premium forum bringing senior finance executives and solution providers together. The Summit offers service providers and CFOs an intimate environment for a focused discussion of key new drivers shaping the future of the industry. Taking place at the Eau Palm Beach Resort & Spa, Palm Beach, Florida, May 14-16, the Summit includes presentations on cyber security, emerging markets, strategic growth practices to drive profitability and talent development.
For more information please send an email to press@marcusevanscy.com or visit the event website at www.cfosummits.com/OliverBelinInterview
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About PrimeRevenue, Inc.
For organizations that view their supply chains as a strategic asset and are seeking to increase supply chain efficiency, PrimeRevenue has the answer. PrimeRevenue provides financing to more than 17,000 clients through its OpenSCi suite which offers the control and flexibility for organizations to optimize their working capital, improve margin as well as reduce costs and risks throughout the financial supply chain. Headquartered in Atlanta, PrimeRevenue also has offices in Frankfurt, Hong Kong, London, Melbourne, Monterrey, Paris, Prague and Cape Town. PrimeRevenue operates some of the largest supplier financing programs for clients around the globe. www.primerevenue.com.
Contact:
Sarin Kouyoumdjian-Gurunlian
Press Manager, marcus evans, Summits Division
Tel: +357 22 849 313
Email: press@marcusevanscy.com
Topic: Trade Show or Conference
Source: marcus evans Summits
Sectors: Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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