Early Payment is Crucial During Both Disruption and Recovery

Over the course of the past 12 months, PrimeRevenue has published several posts monitoring trends in global and regional trade activity on our platform to help us predict behavior within the broader economy. Approximately one year after the pandemic turned the world upside down, things are looking remarkably brighter than they did last spring. Advanced economies are recovering, and our trade data supports this claim. The economic upswing has put a particular spotlight on international trade activity – both for reflection on lessons learned and reasons why we should be optimistic about what lies ahead.

The global economy is bouncing back, driving higher adoption of supply chain finance.

The pandemic upended many aspects of life and business, including normal supply chain operations and trading activity. In a survey of suppliers on our platform, nearly half said the global pandemic negatively impacted their cash flow. Fortunately, 36% of respondents also said they were optimistic or very optimistic about the future of the global economy. Data from the PrimeRevenue platform validates optimism that the global economy is beginning to normalize following a year of disruption.

Upload activity on the PrimeRevenue platform in trending on par with – and even marginally higher than – pre-pandemic levels. Compared to Q1 2020, global “same store” upload activity on our platform was up approximately 1.4% in Q1 2021. The APAC region saw a notable increase, with upload activity in Q1 2021 up nearly 20% compared to the first quarter of last year. The Americas and EMEA saw less impressive growth, likely because these regions are still battling lasting impacts from the pandemic. I am optimistic we will see growth in these regions during Q2 as vaccine efforts take hold in North America and Western Europe.

Meanwhile, demand for early payment solutions have steadily increased. During the pandemic, suppliers relied heavily on supply chain finance to withstand disruption, uncertainty, and volatility. Suppliers across the board advanced payment on 85% of available invoice dollars in 2020 versus 80% in 2019.

Moving into Q1, there was more pressure for suppliers to quickly boost production as business continued to come back online and ramp up to pre-pandemic levels. We saw some increased utilization of early payment as suppliers navigated economic recovery, although this is not true for all sectors. Select groups, like fuel, decreased utilization as they continue to deal with lessened demand by consumers that are largely still not commuting to work. Additionally, many businesses tightened their belts a year ago, taking aggressive action to protect operating cash. This aggressive stance, coupled with significant government stimulus in most economies, helped some businesses build up significant cash reserves through 2020. In select sectors where this is the case, we actually saw reduced utilization as these companies worked through cash reserves they built through the pandemic. This is a good sign of recovery because it signals these businesses did not experience as dire a need for cash as they originally expected.

Another indication of economic recovery is the deceleration of supplier onboarding. A strengthening economy means there is less of a “dash for cash” and less urgency for businesses to onboard onto an early payment solution. Despite this, newly onboarded suppliers continued to accelerate payment on 85% of available invoice dollars in Q1 of this year. Clearly, early payment is still providing critical cash to suppliers that must respond to surges in demand as the economy steadies.

There is an increased need for more innovative, transparent, and broad-reaching early payment solutions.

As demand for supply chain finance grows among suppliers, so does the urgency for supply chain finance providers to boost innovation and dial down risk. Transparency is important for all parties involved – buyers, suppliers, and funders – to ensure ethical and responsibly-implemented supply chain finance that provides sustainable, scalable results. Buyers want working capital solutions that decrease financial risk across the supply chain, are more accessible to suppliers of all sizes, and simplify the onboarding process.

Over the course of the past 12 months, PrimeRevenue has put forth momentous effort to meet those expectations. We successfully piloted AdvancePay, a solution designed to give a broader range of suppliers access to early payment, and are currently rolling it out to a broader audience. We also focused on building up our supplier onboarding capabilities to expedite supplier onboarding and help companies access critical cash faster. Finally, we doubled down on our commitment to ethical, properly run supply chain finance that ensures program longevity, uninterrupted funding, and low-risk early payment to companies that need it most.

The future is bright.

The data we gleaned from our platform is just one aspect of this ongoing analysis. Our conversations with clients also give us an invaluable perspective from the trenches, and our clients have shared business lessons learned from the pandemic. For one, many buyers are re-inspecting their supplier diversification strategies to ensure they don’t rely too heavily on any one region. Regional shutdowns had a drastic impact on the rest of the world, so buyers are exploring ways to diversify their supplier base without alienating existing supplier relationships. They recognize there is an exciting opportunity to increase supplier diversity to build stronger, more resilient, and sustainable supply chains.

Business leaders are also paying closer attention to the financial glue that knits suppliers and buyers together. They are evaluating how to help their suppliers be fiscally resilient during periods of disruption and what tools they should leverage to nimbly adapt to contractions and surges in demand.

If the pandemic taught us anything, it is the depth at which businesses around the world are interconnected. At the end of the day, the world isn’t getting bigger – it’s only getting smaller. While we might be making our way out of the woods, businesses have learned the importance of implementing solutions that will make global supply chains strong and resilient for whatever challenge may be thrown our way next.

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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.