Both companies were honored in the Working Capital and Payments category for their outstanding achievement in supply chain finance
PrimeRevenue, Inc. the leading platform for B2B payments and working capital solutions, announces that two of its customers have been named as winners in the Working Capital and Payments category of the prestigious 2022 Alexander Hamilton Awards.
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Both Boston Scientific, a global leader in medical technology, and Genuine Parts Company (GPC), a leading distributor of automotive and industrial parts, were recognized for their impressive supply chain finance initiatives.
“This recognition is a demonstration of Boston Scientific’s collaborative efforts to fuel growth and alleviate supplier pressures,” said Bob Castagna, Vice President and Treasurer of Boston Scientific. “The cash flow unlocked through supply chain finance has helped us to execute on our growth and market leadership strategy. It has also been instrumental in giving suppliers the liquidity they need to survive ongoing disruption.”
“It’s an honor to be a winner in the 2022 Alexander Hamilton Awards,” said Matt Brigham, Vice President and Assistant Treasurer of Genuine Parts Company. “We set out to make broadscale working capital improvements that would give our North American, European, and Australasian operations maximum financial flexibility. However, it was important to GPC that we achieved that goal while ensuring suppliers in all geographies have access to the benefits of early payment.”
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The Alexander Hamilton Awards celebrate companies taking big leaps forward in treasury, finance, and risk management through process innovations and technology implementations.
“The success of both Boston Scientific and Genuine Parts Company is a clear demonstration of how an expanded supply chain finance program can help companies deliver substantial working capital improvements while supporting suppliers,” said PJ Bain, CEO of PrimeRevenue. “Now more than ever, suppliers need greater access to affordable capital as well as visibility into approved invoices, transparency into payment status, and comprehensive reporting tools.”