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E-invoicing, SCF & E-procurement

Pimkie, Kyriba join forces for reverse factoring project

Friday 17 March 2017 | 10:30 AM CET

Kyriba, a provider of cloud-based treasury and working capital solutions, has announced that Pimkie has chosen its SCF solution to manage supplier invoice financing program.

Pimkie, a player in women's fashion, works with a number of suppliers, some of which are based in Asia, Turkey and North Africa. In order to strengthen its supply chain and build loyalty within its supplier network, Pimkie will allow its suppliers to opt for early payment of invoices through the implementation of Kyriba's reverse factoring solution.

Kyriba`s solution will optimize the customer/supplier relationship by offering suppliers the opportunity to obtain early payment of their invoices, thus benefiting from cash advances. Use of this solution will also allow Pimkie to move to a fully paperless supplier payment system, gradually abandoning the use of letters of credit.

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