PrimeRevenue: Receives Digital Supply Chain Finance Patent
- PrimeRevenue, which works in working capital finance solutions, has granted a patent for supply chain finance (SCF) systems
- The patent is PrimeRevenue’s third for trade finance overall and second for its exclusive Electronic Time Drafts (ETD) solution
- Then the patent will let suppliers access cash faster by getting rid of lien releases and accelerating access to SCF
- It’s currently active with suppliers in 17 countries, and the release says 91 percent of users have sped up their cash flows
- PrimeRevenue will aim to eliminate the need for paper and manual processes when working with SCF transactions
- With the new solution, PrimeRevenue hopes to be more environmentally conscious and use less paper, the release states
