ATLANTA — PetersenDean Roofing & Solar has received a Treasury4Good Award from the Treasury Management International (TMI) for its Most Sustainable/Ethical Corporate Supply Chain Initiative 2019.
That’s according to a press release from PrimeRevenue Inc., a provider of working capital financial technology solutions.
Launched this year as the first awards of their kind in the Treasury industry, the Treasury4Good Awards were created to recognize the growing importance of Corporate Social Responsibility (CSR), Environmental, Social & Governance (ESG) and Diversity & Inclusion (D&I) in the treasury marketplace. The awards are dedicated to those corporate treasury teams, banks, and vendors truly making a difference to their organization’s sustainable growth - and the world around them.
“Supply chain finance helps provide the predictable capital that the residential construction industry requires to maintain healthy businesses year-round; small companies get paid early and large distribution houses improve cash flow, thus strengthening the entire supply chain,” said Brian Medley, vice president, global head of sales, PrimeRevenue. “We congratulate PetersenDean on skillfully leveraging their partnership with PrimeRevenue to meet the economic challenges inherent in their industry while strengthening and sustaining companies throughout their supply chain.”
“We are honored to be recognized for our creation of a sustainable, ethical corporate supply chain initiative. PrimeRevenue’s supply chain finance program is the base on which that initiative is built,” said Steve Doll, CFO, PetersenDean. “Within the context of the construction business, SCF mitigates the uncertainty inherent in the economic model. Unforeseen delays, such as rains, are punitive to the working capital cycle. Our suppliers would normally have to suffer through the same delays we did. This has a domino effect because it delays the timing of their expenditures and requires that they maintain excess cash / liquidity for a ‘rainy day.’ With SCF, we’re relatively agnostic to the delays that often affect our industry. We can target a specific date and know that we can make the payment on that date every time. Our suppliers value this, because it helps them with their projections and planning.”
The TMI Treasury4Good Awards ceremony is being held on May 4 in London, as a not for profit event supporting two charities: The Kamuli Mission Hospital and Sightsavers. For more information, please visit www.treasury4good.com.