C2FO Congratulates Intel on its Treasury Award for Program Supporting Small Business Partners
23 March 2021 |
The Alexander Hamilton Award recognizes the impact of Intel’s successful early payment program for small and mid-sized businesses.
Kansas City, USA (March 23, 2021) — C2FO, the largest global platform for working capital, today announced its congratulations to Intel Corporation for being named a Treasury & Risk 2021 Alexander Hamilton award winner. The accolade recognizes Intel’s commitment to building a responsible, resilient and reliable supply chain by launching an early payment program exclusively for smaller suppliers.
During the initial phases of the COVID-19 pandemic, Intel saw an opportunity to partner with C2FO to offer greater working capital support to its small to mid-sized business (SMB) suppliers that were most affected by the pandemic-induced liquidity crisis.
“Empowering our suppliers is, and always will be, a top priority. Supply chain health and continuity are at the forefront of our business practice as we work to support the businesses that power Intel,” said Jackie Sturm, corporate vice president of Global Supply Chain Operations at Intel. “Over half of our suppliers globally are small and mid-sized businesses that can immediately benefit from this program. In times of challenge, we are glad to offer solutions for those in need.”
C2FO worked with Intel to launch a program offering immediate funding to its thousands of SMB suppliers globally at beneficial, reduced rates. More than 25% of eligible suppliers opted into the program within 30 days of its launch.
“This is a much-deserved win for Intel and a tremendous step forward in its mission to financially support the ecosystem of the supplier partners it depends on,” said Jordan Novak, senior vice president of Market Innovation for C2FO. “We applaud Intel’s commitment to and prioritization of the financial health of its supply chain, and the company’s pledge to ensure SMBs have access to low-cost working capital, regardless of the current market conditions.”
Organized annually by Treasury & Risk Magazine, the Alexander Hamilton Awards recognize organizations that are taking big leaps forward in treasury, finance, or risk management through process innovations and technology implementations. Intel received top recognition in the category of Working Capital: Partner Impact, which celebrates the significant work of Intel in its effort to support supply chain partners in the COVID economy.
Intel and C2FO began their partnership with the 2016 launch of an on-demand early payment program through the C2FO online platform. To date, the program has accelerated $3.5 billion in receivables to businesses around the world.
C2FO is the world’s largest platform for working capital. We serve over one million businesses representing $10.5 trillion in annual sales across 183 countries. Our online platform connects more than $110 billion of daily accounts payable and accounts receivable. Whether you need working capital or have excess working capital, Name Your Rate™, and the C2FO platform will match your request in seconds. You can accelerate or extend AP or AR on demand, providing you, your customers and your suppliers greater control over cash flow. You can also utilize AR financing and other data-driven funding options.
C2FO is working capital, working for everyone. Our mission is to deliver a future where every company in the world has the capital needed to grow. To learn more, visit C2FO.com.