The patent protects the company’s Electronic Time Drafts solution with print option. Currently live, using three currencies and operating in 13 countries, the Electronic Time Drafts solution with print option activated is being used by almost 1,000 suppliers on more than 100 buyer programs. Fourteen US and international banks are currently providing financing using this product.
So far in 2018, invoice upload volume for PrimeRevenue managed programs utilizing the Electronic Time Drafts solution with print option activated has reached USD 2.2 billion with a trading volume financed of USD 1.78 billion. This is up from USD 18 million in invoice volume with a trading volume financed of $9.56 million during 2012, which was the year the product was initially launched. This is PrimeRevenue’s second issued patent for its supply chain finance system.
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