SCF Awards 2023 – Innovation Award

Rea Bosco Vaz

date: December 4, 2023

Winner: PrimaTrade

PrimaTrade receives our special Innovation Award at the Supply Chain Finance Awards 2023 for revolutionizing supply chain finance solutions. Their standout feature involves seamlessly merging a supply chain information-sharing platform with a finance solution, creating a robust synergy. Through comprehensive document integration – covering trade, compliance, commercial, and ESG aspects from suppliers – they facilitate real-time transaction monitoring. Notably, their system generates Irrevocable Payment Undertakings (IPU) upon shipment, enabling partial advance financing and risk management. PrimaTrade’s platform offers integration with buyer ERPs and inclusivity for SME suppliers, redefining supply chain finance dynamics. 

The platform’s adeptness in amalgamating multifaceted documentation at the very onset of transactions revolutionizes financial practices. This proactive approach allows for an immediate assessment of transaction viability and risk, enabling stakeholders to act swiftly. PrimaTrade’s solution empowers businesses to generate IPUs promptly, providing liquidity precisely when needed. This strategic alignment of finance and information-sharing mitigates delays in capital deployment, ensuring a smoother cash flow and fostering financial stability across the supply chain ecosystem. 

Furthermore, the platform’s adaptability is a remarkable asset. It seamlessly integrates with the buyer’s ERP system, streamlining the workflow and enhancing operational efficiency. This integration not only ensures a cohesive information flow but also offers a seamless experience for users, optimizing resource allocation and decision-making processes. Additionally, PrimaTrade’s solution boasts an inclusive approach by extending integration capabilities to SME suppliers, thereby promoting broader supply chain inclusivity and collaboration. 

The strategic fusion of supply chain data-sharing and finance functionalities catalyzes an environment conducive to proactive risk management and efficient capital utilization. PrimaTrade’s innovative approach fundamentally reshapes conventional supply chain finance models, offering an unprecedented level of control and responsiveness in financial operations. By enabling the creation of IPUs at shipment and integrating various supplier tiers, this solution fosters agility and resilience, allowing businesses to navigate complex supply chain challenges with heightened ease and efficiency. 

In summary, PrimaTrade’s groundbreaking SCF solution redefines the paradigm of supply chain finance. Through its avant-garde integration of information-sharing and financial tools, it empowers businesses with proactive risk management, accelerated financing, and enhanced collaboration across the supply chain spectrum. This innovative approach not only optimizes financial operations but also elevates the efficiency and agility of supply chain management, setting new benchmarks in the industry. 

Rea Bosco Vaz

Rea Bosco Vaz is the Head of Product and Market for the SCF Community and a researcher at the Faculty of Supply Chain Finance at Windesheim University of Applied Sciences, in the Netherlands. Her research currently focuses on combining the fields of geosciences and SCF through the subject of critical raw materials (CRM). Rea also works for the SCF Community on events, marketing and as a liaison to finance and tech providers in the SCF industry.