A global electrical supplies distributor, which posted €13bn of sales last year, is the latest firm to sign up to PrimeRevenue’s supply chain finance platform.

French Group, Rexel, is implementing the OpenSCiTM platform so that its suppliers can choose to receive early payment on their approved invoices.

PrimeRevenue believes that the model will allow suppliers to maintain healthier balance sheets. With early payments made, working capital requirements can be reduced significantly and cash flow is less constrained, freeing up borrowing capacity with lenders.

Alex Whewell, head of UK finance transaction services at Rexel, says: “The supplier finance solution managed by PrimeRevenue gives us an additional tool to help us meet our working capital objectives and strengthen our supplier relationships.

“The PrimeRevenue OpenSCi platform provides greater visibility of the invoicing process and allows participating suppliers to significantly improve their cash flow management, reduce debt and strengthen their financial position, which in turn lowers risk within our own supply chain.”