PrimaTrade has been recognised with two major global awards at the end of 2023 - celebrating the arrival of major innovations for the supply chain finance and dynamic discounting markets.
SCF Community Award
The SCF Community Awards are different to most other industry awards - as the SCF Community is a not-for-profit organisation gathering together the leading academic and practitioner voices from the industry.
The SCF Community 2023 awards announcement is available online here.
The judges for the 2023 Innovation Award (including senior individuals from C2FO, Deutsche Bank and Fishtail) noted the following:
PrimaTrade receives Innovation Award for their revolutionary SCF solution
PrimaTrade receives our special Innovation Award for revolutionizing supply chain finance solutions. Their standout feature involves seamlessly merging a supply chain information-sharing platform with a finance solution, creating a robust synergy. Through comprehensive document integration – covering trade, compliance, commercial, and ESG aspects from suppliers – they facilitate real-time transaction monitoring. Notably, their system generates Irrevocable Payment Undertakings (IPU) upon shipment, enabling partial advance financing and risk management. PrimaTrade’s platform offers integration with buyer ERPs and inclusivity for SME suppliers, redefining supply chain finance dynamics.
This is our second major award in as many weeks - validating the breakthrough which our platform represents for the industry.
SCF programs powered by supplier data are the future - enabling :
enterprise-level engagement with all suppliers, regardless of the complexity of the buyer organisation (number of ERPs, procurement teams, geographies, forwarders etc) - and
automated invoice approvals at shipment based on the rich datasets that can be harvested from standard supplier shipping and ESG documents
The Working Capital SCF Awards
And, as posted earlier, last week our client Boohoo Group plc won an award for Best use of technology in a working capital project.
The Boohoo supply chain working capital programme runs on the PrimaTrade platform covering 22 countries and all their international suppliers (many 100s) - delivering working capital optimisation, significant savings on spend and amazing dashboards based on supplier data.
Whether you are a buyer, a funder, a bank or an SCF platform - we can help to make your SCF and dynamic discounting programs bigger and better. Our technology can extend and automate existing programs without replacing funders, funding documentation or your existing platform provider.