KANSAS CITY, Mo., June 20, 2017 /PRNewswire/ --
C2FO, the world's market for working
capital®, today announced it has extended its
contract with Tech Data Corporation
(Nasdaq: TECD), enabling the Tech Data supply
chain to control cash flow and improve financial metrics on demand
by accelerating payment of their approved invoices at a rate that
works for them.
The growing program, which has been available since
December 2014, has been extended for
five years based on broad supply chain adoption and collaborative
success between the Tech Data Vendor Management, Finance, and A/P
departments.
The program will now work towards extending to Tech
Data's vendors in Europe, a
market where more than 50 percent of small and medium-sized
businesses (SMEs) view cash flow as one of their main business
growth obstacles, according to the 2016 C2FO Working Capital
Outlook Survey.
"We have extended our partnership with C2FO because of the
value they provide to us and our supply chain, but also because of
their team approach," said David
Childers, Vice President, Assistant Treasurer at Tech Data
Corporation. "We value the relationships that we have with our
vendors and the C2FO collaborative approach represents another way
for us to enable our supply chain success."
C2FO has grown to a marketplace volume of more than
$88.3 billion in global working
capital flows (total early payments requested) as a result of high
vendor satisfaction as shown by the C2FO Net Promoter Score (NPS)
of 72.
The ability for working capital to flow down to all levels
of the technology supply chain is critical to growth and supply
chain health. Tech Data and many other Fortune Global 500
technology leaders have adopted the C2FO marketplace solution with
this benefit in mind.
"The Tech Data commitment to our long-term partnership is
very gratifying," said Sanjay Gupta,
COO of C2FO. "We help businesses improve supply chain health and
the bottom line with our unique marketplace approach, but what
makes us proud are the trusted relationships we have built with our
customers."
About Tech Data
Tech Data
Corporation is one of the world's largest wholesale distributors of
technology products, services and solutions. Its advanced logistics
capabilities and value added services enable 115,000 resellers to
efficiently and cost effectively support the diverse technology
needs of end users in more than 100 countries. Tech Data generated
$26.2 billion in net sales for the
fiscal year ended January 31, 2017.
It is ranked No. 108 on the Fortune 500® and one of Fortune's
"World's Most Admired Companies." To learn more, visit
www.techdata.com.
About C2FO®
C2FO is the largest
working capital marketplace in the world. Companies across the
globe use C2FO to improve their financial position every day. C2FO
is a leader in retail, industrial, manufacturing, energy,
healthcare, technology, telecom, and transportation sectors. Learn
more about Collaborative Cash Flow Optimization
at www.C2FO.com.
Contact:
Cindy Engman
212.279.3115 ext. 281
cengman@prosek.com
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SOURCE C2FO