ATLANTA, March 11, 2019 /PRNewswire/ -- PrimeRevenue, Inc., the leading provider of working capital financial technology solutions, announced today that one of its valued customers, PetersenDean Roofing & Solar, has been recognized by Treasury Management International (TMI) for its Most Sustainable/Ethical Corporate Supply Chain Initiative 2019, a TMI Treasury4Good Award.
Launched this year as the first awards of their kind in the Treasury industry, the Treasury4Good Awards were created to recognize the growing importance of Corporate Social Responsibility (CSR), Environmental, Social & Governance (ESG) and Diversity & Inclusion (D&I) in the treasury marketplace. The Awards are dedicated to those corporate treasury teams, banks, and vendors truly making a difference to their organization's sustainable growth - and the world around them.
"Supply chain finance helps provide the predictable capital that the residential construction industry requires to maintain healthy businesses year-round; small companies get paid early and large distribution houses improve cash flow, thus strengthening the entire supply chain," said Brian Medley, VP, Global Head of Sales, PrimeRevenue. "We congratulate PetersenDean on skillfully leveraging their partnership with PrimeRevenue to meet the economic challenges inherent in their industry while strengthening and sustaining companies throughout their supply chain."
"We are honored to be recognized for our creation of a sustainable, ethical corporate supply chain initiative. PrimeRevenue's supply chain finance program is the base on which that initiative is built," said Steve Doll, Chief Financial Officer, PetersenDean. "Within the context of the construction business, SCF mitigates the uncertainty inherent in the economic model. Unforeseen delays, such as rains, are punitive to the working capital cycle. Our suppliers would normally have to suffer through the same delays we did. This has a domino effect because it delays the timing of their expenditures and requires that they maintain excess cash / liquidity for a 'rainy day.' With SCF, we're relatively agnostic to the delays that often affect our industry. We can target a specific date and know that we can make the payment on that date every time. Our suppliers value this, because it helps them with their projections and planning."
The TMI Treasury4Good Awards ceremony is being held on May 4 in London, as a not for profit event supporting two charities: The Kamuli Mission Hospital and Sightsavers. For more information, please visit www.treasury4good.com.
About PetersenDean Roofing & Solar
Founded in 1984 by Jim Petersen, PetersenDean is the largest, full-service, privately-held roofing and solar company in the United States. Specializing in consumer retail, new residential, and commercial construction. PetersenDean works directly with consumers in addition to some of the nation's largest builders and developers. With more than a million roofs under its belt and over one hundred thousand PV installations, the Fremont, Calif.-based company employs 3,000 workers and operates in eleven states: Arizona, Arkansas, California, Colorado, Florida, Georgia, Hawaii, Louisiana, Nevada, Oklahoma and Texas. Please visit http://www.petersendean.com/ for more details.
PrimeRevenue's supply chain finance (reverse factoring) solutions help organizations in 70+ countries optimize their working capital to efficiently fund strategic initiatives, gain a competitive advantage and strengthen relationships throughout the supply chain. As the leading provider of working capital financial technology solutions, PrimeRevenue's diverse multi-funder platform processes more than $200 billion USD in payment transactions per year. The company is headquartered in Atlanta, with offices in London, Prague, Frankfurt, Hong Kong and Melbourne. Additional information about PrimeRevenue can be found at www.primerevenue.com | Twitter: @primerevenue | LinkedIn: www.linkedin.com/company/primerevenue.
SOURCE PrimeRevenue, Inc.