Vendor Case Study Video
Case Study: C Ajans
28 January 2022 |
The C2FO Team
Using the C2FO platform has allowed an advertising company in Turkey to boost its business by bypassing banks, putting it in a better bargaining position.
Over the last two decades, C Ajans, an outdoor advertising company located in Lüleburgaz, Turkey, has been growing steadily. The business, just shy of two hours from Istanbul, has been adding various companies and regions to its burgeoning company portfolio with clients that include local businesses and international corporate conglomerates.
Along the way, according to C Ajans manager Salih Akaner, the company learned some important lessons, particularly that it was essential to get paid in a timely manner and in cash, all the while juggling pressing deadlines from large corporations.
“The fact that businesses have opened and closed very quickly confirmed our strong stance in this policy,” Akaner said.
The company decided to adopt the C2FO platform in 2020 after hearing about it from a corporate partner. And despite some initial hesitancy due to unfamiliarity with the software, Akaner said C2FO’s Early Payment system was a successful addition to its arsenal because it helped C Ajans in two ways: bypassing asking banks for money that came with relatively high fees when the company needed working capital as soon as possible and helping the company gain an advantage in its purchasing process.
“When we discovered the C2FO program, we realized we could actually gain an advantage by quickly incorporating our receivables into the system,” Akaner said. “We decided that capitalizing on this advantage would be a valuable strategy for our company.”
When the company received early payments from its clients, the company was in a stronger position to bargain with its wholesalers for lower prices, Akaner said.
“We increased our bargaining power with our own money,” he said, contrasting that with waiting for banks to release money to the business.
C Ajans was established in October 1998. It does an assortment of advertisement projects that require manufacturing and assembly, such as vehicle wrapping, facade signage, inscriptions on glass, and signs with or without illumination. The company also got into indoor signage and advertisement, such as in shopping malls and other establishments.
The signage industry can be a competitive sector to work in, and that’s why the edge C2FO gives C Ajans is vital, Akaner said. With its early payment discount rate set at 2 to 3 points lower than current bank interest rates, it just makes sense to use C2FO.
What’s also helped is the sterling customer service from C2FO, Akaner said. The C2FO Supplier Relationship Manager helped C Ajans with logistics and the onboarding process.
“Her help was extremely warm, as well as very impressive,” he said. “She responded quickly to all kinds of questions and problems.”