Change Often Breeds Innovation – and 2020 is No Different

The past year has fundamentally changed the world. Nearly all aspects of life and business have been impacted by extended disruption. Countries entered widespread lockdown, factories closed, and life in general was halted by a global health crisis that produced an economic environment unlike anything most people alive have seen. But as the saying goes, “the only constant in life is change,” and it is time to move forward.

In many ways, we are in the same position today as we were in March. And we will likely continue to be in the same position throughout the beginning of 2021. The fundamental difference is that despite this ongoing disruption, the world has adapted like it always does during challenging times. Resiliency is the key to survival and, especially in times like these, the only choice is to make lemonade out of lemons.

Fundamental Changes to Supply Chain Operations

Over the past 9 months, PrimeRevenue has analyzed our proprietary data to produce insights on the future of the global economy that help businesses make more informed decisions. A common theme we’ve seen throughout these analyses is resilience. People and businesses are adapting to the new normal – and our data validates this. While the economic challenges are far from over, the aggregated data proves that the global economy and its people are strong. Companies around the world are acclimating to the current climate and reshaping the way they do business. From developments in e-commerce to investments in infrastructure, the pandemic has prompted one positive change: innovation.

There must be a willingness to innovate and adapt to survive – and thrive – during times of massive disruption. Many businesses are rethinking how they can prepare for drastic shifts that happen seemingly overnight. What do you do when an entire jurisdiction goes offline or when your suppliers are struggling to keep pace with an unprecedented surge in demand? Companies must fortify their supply chains in the face of rapid and dramatic disruption, and they are putting measures in place to add more layers of protection for the business and their suppliers.

One of those layers is supply chain finance. We have seen a consistent uptick both in the number of suppliers registering for their customer’s PrimeRevenue-led early payment programs, as well as supplier demand for early payment. Thousands of new suppliers representing nearly 50 countries and billions of dollars in annual spend have registered for the PrimeRevenue platform between March and November. From the beginning of March to the end of October, suppliers opted to advance more than 85% of available invoice dollars.

Data Proves Companies Have Adapted

Our first dive into pandemic-related data showed early indicators that the first country hit with the virus was starting to come back online. We published a second post in April that reported further stabilization in China. Since then, we’ve kept a close eye on trade activity in China and we’re happy to report that the data is showing strong performance. Other than a dip at the beginning of October for China Golden Week (similar to the annual dip we see every year for Lunar New Year), trade activity for the weeks surrounding the festival were on par with 2019 levels. For the 30 days leading up to the start of China Golden Week on October 1, trade activity was up 13% year-over-year. According to this data, China has strongly recovered from the lows we saw in the spring.

PrimeRevenue also analyzed our data in EMEA. The overall consensus was that Europe is resilient – but liquidity would be key to economic recovery. After the initial lows observed in March and April, Europe’s trade activity has trended relatively close to 2019 levels. However, a second round of shutdowns has impacted trade activity in this region, with levels down 4% between September 1 and November 15 compared to 2019. Some companies, particularly in essential retail, are also seeing a second surge in demand. Beginning on November 9, trade volume increased 22% year-over-year for a select group of grocery retail in the U.K.

Most recently, we analyzed U.S. trade data, which showed that certain sectors were gaining momentum. For the period between September 1 and November 12, overall trade activity in the U.S. was down 12% year over year – but it is currently trending in a positive direction. This is a significant improvement from the slump seen earlier this year, when the consumer discretionary sector was down 30% compared to 2019. Despite the political environment and various stages of semi-lockdown that have contributed to continued uncertainty in the economy, the U.S. seems to be regaining the losses reported earlier this year.

Aggregated global data is trending similar to the above regions. We haven’t seen another large dip like we did in March and April, which means businesses around the world are navigating the volatility and innovating to consistently ship products to their customers. Overall global trade activity on the PrimeRevenue platform between March 1 and November 15 is only down 7% year-over-year compared to the lowest point of down 34% in April. It may sound odd, but in times like these, this is cause for celebration.

PrimeRevenue’s Commitment

Throughout 2020 and heading into the new year, PrimeRevenue’s pledge is to support clients through whatever challenges they may face. We strive to provide businesses around the world the information and tools necessary to fortify the supply chain via our proprietary trade data and analyses, as well as expertly executed working capital solutions.

With our supply chain finance and accounts receivable finance solutions, suppliers and buyers of all sizes can strengthen their financial health to not only survive challenging times, but also thrive and innovate in the face of disruption.

As we close out 2020 and look ahead to a new year, PrimeRevenue is committed to helping businesses insulate themselves as much as possible from external factors and start the new year strong. From empowering suppliers to accelerate payment on available invoices to helping buyers support the supply chain while optimizing working capital, PrimeRevenue is your working capital partner both now and tomorrow.

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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.