VENDOR CASE STUDY VIDEO
Alder Creek Gift Baskets Spreads the Cheer With Help From C2FO
May 19, 2022 |
The C2FO Team
C2FO’s early payment program helps the California company achieve healthier margins and fund business growth.
America’s largest retailers depend on Alder Creek Gift Baskets to make the holidays bright for their shoppers. The Temecula, California-based company produces fun and fashionable gift baskets for practically every kind of special occasion.
And the company’s reach isn’t limited to the US. Through its online store — and its placements in retail shops on military bases around the world — Alder Creek Gift Baskets helps loved ones spread holiday cheer no matter how far away they are.
Andrea and Greg Stringer, the company’s owners, said that C2FO’s early payment program has been one of the keys to their success. Several of their biggest customers use C2FO to negotiate faster payment of invoices in exchange for a small discount.
It’s a deal the Stringers are happy to make. C2FO empowers them to access the working capital they need to fund their growing business.
“What it allows us to do is pay our suppliers on time and take advantage of early payment discounts, so it increases our margin on all of our gifts,” said Andrea Stringer, Alder Creek’s president and CEO. “We're able to get better pricing from our vendors.”
In a time when enterprise buyers are pushing for increasingly longer terms, C2FO has made it possible for Alder Creek Gift Baskets to receive payment in days instead of months.
Originally, the Stringers were hesitant about using C2FO after bad experiences with other finance programs.
“We felt a little leery because most companies that offer this type of program have exorbitant fees. It's really not what they're portraying,” said Greg Stringer, who serves as CFO. “But we found with C2FO, it's exactly how they are portraying it.”
Andrea Stringer echoed that. “With C2FO,” she said, “you know that when you're submitting the invoice, you know what the deductions are going to be and that you're going to get paid within 10 days. No surprises.”
The Stringers have big plans for Alder Creek Gift Baskets, including a retail shop in California’s Temecula Valley wine country and a distribution center on the East Coast. They know that pursuing those goals will be easier with a partner like C2FO on their side.
“I would highly recommend C2FO to any small business,” Andrea Stringer said. “This is a program that does not take advantage of us, that is actually here to help us, to help us be financially sound and help us compete with the larger companies that are out there.”