Writing about the award, Treasury Today describes how “this solution enables Volvo Cars to connect to their core banks by deploying a single supply chain finance web-based online platform which has improved the company’s working capital management KPIs.”

Further, the Treasury Today quotes Kamol Khodjaev, Head of Trade & Financing Solutions at Volvo Cars, explaining, “The chief purpose of this strategy is not to be dependent upon one or two single bank platforms, but rather having one plug-in multi-banking solution where several banks can participate, having fair chances with respective advantages in geography, currency and appetite.”

Treasury Today concludes, “The supply chain finance program has not only delivered its objective in finding a flexible, transparent and optimal solution for both commercial sides (buyer and supplier) in a relatively short time to reach the company’s objectives. It has also fostered a valuable cross functional cooperation between the company’s purchasing and treasury departments, delivering new business solutions and ideas.”

Based in Sweden and founded in 1927, Volvo Cars Corporation is a leading global manufacturer of luxury vehicles. The company first deployed PrimeRevenue’s cloud-enabled solution in 2006, and currently has 14 divisions live. Volvo and its suppliers have achieved significant improvements in working capital over that timeframe across 20 countries and 10 currencies.

About PrimeRevenue, Inc.
PrimeRevenue makes the global economy more efficient by unlocking cash in corporate financial supply chains. Headquartered in Atlanta, with offices in Prague, Hong Kong & London, PrimeRevenue manages $100 billion in transactions every year and frees up cash for over 20,000 clients, in over 70 countries to invest in their company’s future.
primerevenue.com

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