Lifestyle brands provider Pacific Brands has deployed PrimeRevenue’s open supply chain finance (SCF) platform with financing help from National Australia Bank (NAB).

Through PrimeRevenue’s SCF platform, Pacific Brands suppliers will gain visibility into their generated receivables well in advance of their due date as well as having the option to trade those receivables for early payment.

The combined effects of greater cash flow visibility and payment on demand are expected to reduce cost, working capital and financial risk throughout Pacific Brands’ supply chain.

Meanwhile, NAB will provide the financing for supplier early payment requests.

“NAB is proud to be partner to what we believe is one of the first applications of supply chain finance to move suppliers from letters of credit to open account trade terms with payment in US dollars across international boundaries for trade with Asia,” says Geoff Cox, general manager, supply chain finance, NAB.

“Our participation in the process is seamless through the PrimeRevenue SCF platform, which automatically provides early payment to suppliers for their invoices with Pacific Brands.”