AGCO, a worldwide manufacturer and distributor of agricultural equipment and solutions, and PrimeRevenue, a global platform for working capital finance solutions, have been recognized for “Best Customer Implementation of Supply Chain Financing Solutions” by Global Finance Magazine. The joint award was presented last week at the 2017 Bankers Association for Finance and Trade (BAFT) Europe Bank to Bank Forum conference luncheon in Madrid, Spain.
For the tenth consecutive year, Global Finance’s editorial team has ranked what it considers the “World’s Best Supply Chain Finance Providers.”
“We are very honored to receive this recognition together with our valued partner PrimeRevenue,” said Dustin Barney, purchasing manager, at the AGCO Corporation. “This award is a testament to AGCO’s commitment to offering the most favorable industry practices and best financing solutions to our suppliers, and in turn increasing access to capital for our own initiatives. Feedback from our suppliers has been favorable, indicating the program’s tracking to be a real win-win.”
AGCO and PrimeRevenue successfully brought the supply chain finance program online in just months and had a measurable impact on working capital. Generating positive cash flow remains an important operational priority for AGCO. By using PrimeRevenue’s supply chain finance platform, AGCO can free up capital to maintain significant investments in other areas of its business.
PrimeRevenue also won Global Finance’s “Best Platform Connecting Buyers, Suppliers and Financial Institutions” global award this year.
“Key to us winning these coveted awards are the partnerships we form with world-class partners such as AGCO,” said PJ Bain, CEO of PrimeRevenue. “It truly is impressive how quickly and effectively AGCO brought together a cross-functional team of finance, treasury, accounts payable, IT and purchasing executives to work with our experts on a smooth deployment in multiple languages and currencies, initially in the U.S. and potentially abroad.”
Global Finance’s editorial review board—with input from industry analysts, corporate executives and technology experts—selected the best providers of supply chain finance and management services. A variety of subjective and objective criteria were used for choosing the winners. In addition, a poll of Global Finance’s readership was conducted to increase the accuracy and reliability of the results.
Source: AGCO Corporation