Business Resiliency and Lessons Learned from the Global Chip Shortage

A lesson business leaders have been reminded of over the last 12 months is that disruption begets disruption. Businesses were first faced with unprecedented slowdowns and shutdowns stemming from the global pandemic, followed by a historic shortage of one of the most integral pieces to modern technology: computer chips.

It’s difficult to pinpoint exactly where disruption stemming from the pandemic ends and disruption stemming from the global chip shortage begins. In either case, businesses of all sizes have been hammered with unanticipated roadblock after roadblock, and many are struggling to come up with contingency plans to respond to prolonged shocks to the supply chain.

One of the most recent examples is the ongoing global shortage in computer chips and semiconductor parts. It started as a temporary delay caused by factory shutdowns at the start of the pandemic. Within several months, production ramped back up. By that time, however, demand had exploded. Remote workforces needed new laptops and smartphones. People bought new gaming devices to pass the time. New car sales soared as consumers gained more confidence in the economy.

Supply continues to be dwarfed by demand. Several large auto manufacturers were forced to idle production and it’s expected profits of some companies will take hits in excess of $2B this year. The world’s two biggest purchasers of semiconductors, Apple and Samsung, have had to delay (or are projected to delay) highly anticipated product launches.

In effect, we’ve moved from one global crisis to another. Chips and semiconductors are embedded into everything from home appliances to automobiles to medical devices and the global shortage is far from over. This underscores another valuable lesson – the importance of resilience and risk management in the financial supply chain.

Companies are buckling up for a chip shortage that is far from over.

Gartner predicts the chip shortage will plague supply chains until the second quarter of 2022. Countless industries are feeling the effects whether directly or indirectly, but the automotive industry in particularly is being held hostage by the chip shortage. Global automobile production could fall by up to 3 million cars this year, and some manufacturers are rethinking production models as they look to solve systemic issues in the supply chain. Toyota, for example, broke the rules of its own just-in-time production philosophy (now used by manufacturers around the globe) by stockpiling months’ worth of computer chips and semiconductor parts.

While we have seen the chip shortage impact our buyer and supplier clients on an individual level, we have yet to see sweeping trends in our data – though we expect the scale to tip eventually if the shortage keeps its current pace. Our conversations with clients have mostly revolved around having the financial resources to secure supply where it is available and plan for prolonged shortages moving forward. We will continue to work closely with our clients to meet their cash flow needs and report on any findings in our data as they materialize.

Business leaders seek new ways to survive sustained disruption.

As some companies rethink production cadence and philosophies, it’s important to point out there is only so much contingency planning that can be done. Some business leaders are already planning for the next global pandemic or massive supply chain disruption – as they should – but those events will likely have new challenges and therefore new and unique disruptive side effects. With that in mind, companies must also consider broad-stroke, strategic measures that can be put in place now to improve supply chain and financial resiliency despite sustained disruption.

One measure is adding a layer of security and agility into the financial supply chain. How can you make sure your business is able to respond adequately when faced with industry-wide or global disruption? How can your business be a more desirable customer to get first dibs on limited supply? Supply chain finance is purpose-built to meet these demands. It allows buyers to optimize cash flow so they have more liquidity on hand to pivot, make changes to their supply chain, and withstand extended periods of disruption.

Supply chain finance provides additional financial security and agility to suppliers as well. It gives suppliers the cash they need to expedite and/or boost production to meet surges in demand or, alternatively, to keep them afloat during shortages (whether a shortage in demand or a shortage in parts, e.g. computer chips).

Large-scale disruption is rarely a single event. The ripple effects are often just as consequential as the initial cause as evidenced in what we’re seeing today and what we’ve witnessed during other times of economic crisis. It’s up to business leaders to fortify their companies for sustained disruption including strengthening the financial supply chain. Supply chain finance is one lever to pull. It has played a critical role in helping buyers and suppliers withstand the last 12 months of uncertainty as well as position themselves to be even stronger and more competitive in a post-pandemic business climate – and it will continue to provide the same insulation for the challenges ahead.

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Stephanie Wargo

VP, Global Head of Marketing

Stephanie joined PrimeRevenue in 2015 and oversees the company’s global marketing team and strategy. With a data-driven approach, Stephanie focuses on demand generation and thought leadership to drive brand awareness, strengthen client/partner relationships, and generate new sales opportunities. Stephanie has guided PrimeRevenue through new technology releases and an evolving FinTech landscape. In addition to leading PrimeRevenue’s internal and external communications, she implemented innovative demand generation and marketing strategies to enhance the company’s overall sales pipeline.

Stephanie has extensive experience in marketing and customer success. She previously served as Vice President of Marketing and Communications at BitPay and Vice President of Client Relations and Marketing at FirstView Financial. Stephanie earned a B.A. degree in Political Science from Agnes Scott College in Decatur, Georgia.

Brian Medley

VP, Global Head of Sales

Brian joined PrimeRevenue in early 2012, after more than 20 years of sales leadership, executive-level consultant and business growth experience. As VP, Global Head of Sales, Brian leads a growing team of fintech sales professionals with a focus on developing strong customer relationships, improving sales predictability and helping PrimeRevenue enter the lucrative mid-market.

Prior to PrimeRevenue, Brian honed his enterprise software sales leadership skills at Clarus Corporation. He also served as an operations and IT management consultant for Kurt Salmon Associates. In addition to his sales and consulting background, Brian has deep experience in the financial industry having founded a successful residential mortgage broker and lending business. He is a graduate of the Georgia Institute of Technology having earned a B.S. in Industrial Engineering and Economics and M.B.A. in Global Business.

Jason Green

SVP, Global Customer Success

Jason joined PrimeRevenue in 2021 following more than two decades in the fintech/financial services industry. He brings a strong background is sales leadership due to his impressive relationship building capability as well as a successful track record in creating structure and process improvements. In his role, Jason uses his keen attention to detail to strengthen the customer experience and enhance the company’s solutions to deliver more value to clients.

Prior to joining the company, Jason held several senior level and executive roles with a focus on building and scaling sales and support organizations at both large and small companies. Jason graduated from Murray State University with a B.S in Marketing.

Matt Ford

SVP, Global Product Innovation

Matt joined PrimeRevenue in early 2015 and is responsible for overseeing all commercial, strategic and operational aspects of PrimeRevenue’s supply chain finance offerings throughout EMEA, based in Prague. He has been instrumental in gaining global alignment and developing supplier enablement processes for the region.

Matt joined PrimeRevenue following a 15-year career at Morgan Stanley, where he worked in fixed income operations covering debt syndication through bonds, EMTNS, corporate loans and other debt securitization. Notably, he set up non-core location operations in Europe (Budapest) and all lending operations in Baltimore from scratch.

Matt, who was born and raised in South East England, earned a B.S. in Sports Science at University of Teesside where he mastered the art of TEAM development and accountability as a youth international rugby player.

Dominic Capolongo

EVP, Global Head of Funding

Dominic joined PrimeRevenue in 2016, and is responsible for leading our bank and capital markets funding strategies and execution. He focuses on building global, scalable and highly efficient funding structures that maximize options for supporting PrimeRevenue’s programs. Dominic began his career as an attorney and was a partner with Kaye Scholer before joining DLJ as a senior banker. Dominic brings tremendous strategic and capital markets experience in all areas of finance having held senior positions at, among others, Credit Suisse and RBC Capital Markets in addition to DLJ. Dominic earned a JD from Fordham University School of Law and a BA from SUNY Binghamton.

Gavin Cicchinelli

Chief Operating Officer

Gavin joined PrimeRevenue as Chief Operating Officer in 2021. With more than two decades of leadership and executive experience along with a deep understanding of the payments space, Gavin provides a unique focus on improving and strengthening operational strategies and implementing GTM growth execution. He is responsible for leading transformation across corporate and operational strategies as well as building a repeatable and scalable commercial growth strategy that aligns with PrimeRevenue’s core business while delivering key adjacent growth opportunities.

Prior to joining PrimeRevenue, Gavin served as President and Chief Revenue Officer of Integrated Solutions at TSYS, a global payment processing services company acquired by Global Payments (NYSE:GPN). There, he also served as Head of Product and divisional COO. Throughout his career, Gavin has held multiple leadership positions including VP of Sales, SVP of Business Development, and President of Financial Institutions. Gavin graduated from the University of Northern Colorado, Greeley.

David Quillian

Chief Legal Officer

David joined PrimeRevenue as General Counsel in 2007. He and his team have been instrumental in successfully creating the unique legal structures that support PrimeRevenue’s multi-funder model and global funding capabilities. David is also the lead named inventor on PrimeRevenue’s two patents for Electronic Time Drafts, which allow PrimeRevenue to manage supply chain finance programs using electronic negotiable instruments as opposed to accounts receivable. Prior to PrimeRevenue, David was General Counsel at Harbor Payments, which was acquired by American Express (AXP) in 2006, and Magnet Communications, which was acquired by Digital Insight (DGIN) in 2003. He holds degrees in Economics and History from Duke University, and Juris Doctor and M.B.A. degrees from the University of Georgia.

Nathan Feather


Nathan has successfully ushered PrimeRevenue from our very early days as a visionary startup, through the financial crisis to today’s position as a thriving mid-sized leader in the cloud-enabled supply chain finance marketplace since joining PrimeRevenue in January 2006. He was instrumental in recapitalizing the company with an $80M investment led by BBH Capital Partners in 2015. Prior to PrimeRevenue, he held various financial management roles with Ariba, Freemarkets and PriceWaterhouseCoopers. Nathan holds a BS in Accounting from Pennsylvania State University.

PJ Bain


PJ has an impressive and accomplished track record as an enterprise software entrepreneur and executive. PJ has built a solid record of success with PrimeRevenue since being appointed Chief Executive Officer in July of 2009. The company has received numerous awards for growth, customer service, innovation, along with being recognized as a top employer.

PJ is a life-long software and technology entrepreneur having been involved in numerous firms in the roles of founder, executive, advisor and investor. Immediately prior to PrimeRevenue, PJ was the VP and General Manager of Exact Holding N.V. (NYSE/AMS: EXACT), a leading global provider of business software solutions. He was previously Founder and CEO of Inspired Solutions, an Atlanta-based, B2B software and services firm that grew to be the largest reseller of Exact Software in North America, later acquired by Exact. PJ holds a Bachelor of Industrial Engineering from Georgia Institute of Technology.