Solving the Late Supplier Payment Problem

Cash flow is the bread and butter of every business. The inflow and outflow of cash determines nearly every aspect of a company’s health from profitability to growth potential. It is also often the best shock absorber during periods of disruption.

But what happens when inbound payments are interrupted or delayed?

This can have a devastating effect on any business, especially SMEs who are more vulnerable to cash flow challenges. This is particularly true in light of the volatility that has occurred in global supply chains over the past 18 months.

The Wall Street Journal reports that some companies are taking longer to pay their suppliers despite the economy perking up. According to research published by the Hackett Group, U.S. companies took an average of 58 days to pay suppliers during the first quarter of fiscal year 2021 compared to 55 days during the same time period the previous year.

When looking at the complete fiscal year 2020, the number of days jumped to 62 days, up 7.6% year-over-year.

PrimeRevenue’s supplier payment data echoes these findings. In Q1, we surveyed hundreds of suppliers to learn more about their biggest payment challenges. Nearly half reported that late payments were the biggest payment challenge with their customers. Late invoice approvals and visibility into payments were other primary concerns, with 29% and 12% of respondents respectively citing those as their most prominent challenges. Another survey of suppliers found a staggering 60% claimed they had to contact their customers between 1-10 times a month to inquire about payment status. More than 10% of respondents stated they had to reach out more than 10 times a month about payment status.Late payment has always been an issue, but there is newness in the frequency in which it’s happening and the extent to which it’s affecting suppliers. The cash flow squeeze caused by slow payment cycles has caused many suppliers to scale back or shutter operations over the last 18 months. Other businesses that are experiencing surges in demand have watched their expansion projects be stymied by suboptimal cash flow. Many suppliers can no longer afford to ignore just how detrimental late payments are to their business.

Leveraging Technology-led Solutions to Drive Businesses Forward

The increasing scope of late payments is a serious threat to supply chain health and stability, particularly for suppliers. This has caused us to look at our role in solving this problem with a fresh perspective. How can we leverage our technology to ensure suppliers receive timely payment? How can we help suppliers accelerate cash flow? How can we broaden our solution portfolio to tackle these challenges?

Late payment is a broad issue that requires multiple solutions, and it is important to highlight the role technology will play in solving the full scope of the problem. Technology-led early payment solutions are one approach. Examples include supply chain finance (also known as reverse factoring or supplier finance), dynamic discounting and accounts receivable finance, all of which give suppliers the flexibility to accelerate payment on their invoices.

Another option is implementing a solution that automates digital payment throughout the supply chain – otherwise known as a “maturing payment solution.” This allows a buyer to streamline payments, which reduces administrative burden and eliminates the risk of paying a supplier late. For suppliers, this solution provides increased visibility into invoice approvals and upcoming payment as well as enhanced control and improved cash flow.

PrimeRevenue’s Impact

PrimeRevenue’s technology excels at connecting the supply chain through reliable, transparent, and timely payment. As soon as invoices are approved, they are automatically uploaded to the system via ERP integration and available for early payment. Not only does this automated upload expedite the buyer’s AP process, it also provides faster access to invoice visibility and the ability to advance payment for suppliers.

To date this year, suppliers across all regions on PrimeRevenue’s platform get paid an average of 31.2 days after invoice date. In the U.S. specifically, supplier payment was received on an average of day 36.1. This is nearly twice as fast as suppliers without access to an early payment option like supply chain finance or dynamic discounting per the Hackett Group’s data.

Average days to receive payment has held steady over the past couple of years – and in some cases has decreased, signaling faster payment. Despite access to government subsidies and assistance throughout the pandemic, suppliers continued to advance payment at the same rate in 2020 as they did in the previous year. This is particularly telling of the value suppliers receive from early payment because it shows they continued to use an early payment solution despite having additional cash source.

Suppliers receiving timely payments via the PrimeRevenue platform have used the cash to fuel incredible transformations within their businesses.

“In my 16 years in the commercial logistics industry – several of them on the owner/operator side – I’ve come to understand firsthand how early payment can provide a precious financial advantage to a growing company,” said Alex Lomas, Director of Reformation Logistics, a supplier to DFDS. “But in the last year, that understanding took on new meaning as my business partners and I did the unthinkable. We launched a business during a pandemic. And it wouldn’t have been possible without [payment via] PrimeRevenue.”

While there is still work to be done to solve the problem of late payments, PrimeRevenue is pioneering new solutions that are innovating the global B2B payments space. Our TEAM is dedicated to accelerating global commerce by streamlining B2B payments – and there are more solutions to come.

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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.