Food for Thought for the Food and Beverage Industry

Hungry for better cash flow?

A wave of significant change is moving through the food and beverage industry redefining the way companies grow, operate, and manage risk. Increased commodity prices, adjustments in consumer demand and food safety regulations have dramatically impacted the business strategy of leading companies in the sector. In such a well-established market that offers limited growth, companies are required to implement efficient business practices to remain competitive.

While food and beverage companies have a lot on their plates, one thing is clear: today’s growing preoccupation with risk in the supply chain and the focus on working capital are affecting industry priorities in the food and beverage space.

Current challenges in the food and beverage market

Competition in the food and beverage industry is getting tougher with pressure on prices and margins continuing downward and commodity prices rising. The ability of corporations to recognize relevant challenges and opportunities, develop appropriate and timely responses, and execute effectively will continue to be critical to their short and long-term success.

While the market is changing, food and beverage companies are too. In particular, shareholders and management are focusing their attention on cash flow efficiency. Today, any company delivering materially less value than it’s capable of, is likely to find itself a candidate for acquisition.

This growing trend towards acquisitions is prompting many to rethink their purpose: are they a growing business with a healthy balance sheet, or are they a candidate for acquisition? These companies face increased pressure on costs and financial requirements due to global competition, forcing new and innovative strategies as necessities to remain a serious player in the market.

Working capital: Food for Thought

There are two key financial measures that can determine financial strength and healthiness: profitability and cash flow efficiency. Although both indicators are important, cash flow efficiency has become more important than profitability in the current market environment.

Some companies appear to have pursued a deliberate policy of trading off working capital improvements against sales growth or margin expansion, according to research presented by PWC. Over the past few years, working capital levels have deteriorated by almost 2% globally, a trend that is reflected across all industry sectors. If all companies achieved cash flow management best practices, 4.9 Trillion dollars could be released, according to PWC. However, some business executives argue that many of the most readily available opportunities for improving working capital performance have already been exploited.

Also, within the food and beverage sector, there are some significant differences when comparing food manufactures companies with, for example, companies in the brewing industry. A recent study highlights this polarization where good performers were able to release cash and fund their own growth, while bad performers deteriorated and had to find additional cash to fund their growth. In other words the good performers are getting better and the bad are getting worse (Ernst & Young).

Active working capital management is an extremely effective way to increase enterprise value. Optimizing working capital results in a rapid release of liquid resources contributing to an improvement in free cash flow and thus to a reduction in overall borrowing and capital costs. Optimizing working capital leads to an effective increase in enterprise value or Economic Value Added (EVA). One business practice in particular, supply chain finance, is gaining momentum throughout the food and beverage industry. Supply chain finance (SCF) is about much more than just extending payment terms, rather, SCF optimizes the entire supply chain. In many cases, suppliers are offered early payment terms at attractive rates as their rate is tied to that of the buyer, which strengthens buyer-supplier relationships.

A solution with PrimeRevenue

PrimeRevenue is the leader in supply chain finance in the food and beverage industry. Several leading, global brands are successfully using PrimeRevenue’s platform to optimize their working capital. The key reasons why more than 20,000 customers have chosen PrimeRevenue can be summarized in three unique offerings, which are crucial for implementing and managing successful SCF programs:

Spend and working capital analysis allowing companies to make better buying decisions and negotiate optimized payment terms, putting the power in their hands to improve their working capital.

Multi-funding structure giving food and beverage companies the option to select the financial institution funding their supply chain finance program at rates that are highly competitive.

Onboarding suppliers and educating procurement by introducing the supplier finance program to both the procurement team and to the suppliers and communicating the benefits and structure of the financing process. PrimeRevenue’s solution also presents legal click-through agreements and collects all required information from your suppliers for registration into the program.

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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.