Supply Chain Finance: Capitalizing on Growth Trends

Freight volume is at an all-time high and shares of many large trucking firms are trading at record levels. The race to add capacity is on but a huge roadblock stands in the way. Due to the national shortage of truck drivers, carriers can’t add capacity fast enough to take advantage of the flood of new shipping business.

As a result, shippers are stuck in second gear, with loads vastly outnumbering trucks as freight volumes climb to record heights. A shortage of trucks is forcing companies to pay higher shipping rates, delay nonessential shipments, or cancel loads completely.

Fueled by strong demand and the tax overhaul, trucking companies in January 2018 ordered the most big rigs in almost 12 years, but many are not expanding fleets. For the most part, they’re only replacing aging equipment.

Worse, tractor trailers require drivers and truckers are scarce as produce season gets underway. The American Trucking Associations (ATA) reports that the industry is short 50,000 drivers, a figure that could reach 175,000 by 2024 as current truckers retire. Autonomous driving trucks may offer a solution but mass adoption is many years away. Further, even as fleets add capacity, it can take months and even years to catch up with shipper demand.

While there’s many disruptors crimping capacity—rising diesel prices, extreme weather, and new safety regulations—combating the driver shortage is top priority.

Doing so requires a new mindset, along with a different type of investment model, to ensure long-term success. The U.S. truck driver population is aging rapidly and heading for retirement. According to the ATA, the average age of a private fleet trucker is 52, followed by 50 at less-than-truckload (LTL) carriers, 49 at full truckload (FTL), and 47 at drayage operators. Replacing them with younger drivers as the workforce nears full employment will require drastic new approaches to recruiting and retention, including higher wages and reducing over-the-road stress.

Leveraging Growth Trends

Preparing for the future is expensive, but the business case for capitalizing on record freight volumes is clear. Trucks carry 70 percent of goods shipped across the United States, and many companies, such as Tractor Supply Co, Prestige Brands, Clorox, and Sysco, blamed rising freight costs during their fourth quarter earnings calls for falling profits. Specifically, as the poultry industry prepares for record growth, Tom Hayes, president and CEO of Tyson Foods, recently told analysts that rising freight costs would impact the company by more than $200 million in 2018, resulting in increased prices for consumers.

Traditionally, firms capitalizing on growth trends raise capital by selling equity, issuing debt, or selling a lesser performing unit of the business. These strategies work, but they’re not innovative—and they’re costly.

A better way to generate capital is to unlock the potentially millions of dollars stranded in the supply chain. Implementing a supply chain finance (SCF) program allows carriers to extend payment terms with suppliers, decelerating cash outflow and providing access to available funds without negatively affecting the balance sheet. At the same time, suppliers can leverage an SCF program to control timing of payment, including accelerating payments dramatically in return for a small finance fee.

Both sides win, because both sides have increased access to working capital, making SCF a game-changing strategy for boosting trucking capacity.

To thrive, supply chain stakeholders must speed toward the road ahead. Freight volume is at its highest levels in years due to rising manufacturing output, housing and construction, and consumer spending, but truckers are required to drive the American economy. SCF is the best way to unlock immense sums of money in the supply chain, allowing it to work for the company’s future without the negative effects of traditional financing options.

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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.