VENDOR CASE STUDY VIDEO
Case Study: ADXBA
25 February 2022 |
The C2FO Team
C2FO’s Early Payment helps UK digital signage provider grow and prosper during the global pandemic.
Just as its video displays guide travellers to unique destinations, ADXBA has navigated a successful business journey all its own.
Located in Manchester, United Kingdom, ADXBA designs, assembles and maintains customised digital video displays viewed by patrons at airports, stadiums and entertainment venues. Without these modern-day wayfinding and educational tools, travellers could easily become lost or delayed, and event attendees would be less informed or entertained while enjoying a favourite concert or football match.
Meeting the needs of ADXBA’s clients has required an investment in technology, along with a greater commitment to growing its staff and enhancing the company’s ability to integrate with other providers.
According to ADXBA Managing Director Jim Kerr, gaining control over its cash flow has been essential, and substantial growth has resulted.
Not surprisingly, becoming a large-scale supplier of connected video systems didn’t occur overnight. Though Kerr was the company’s only employee that first year, dozens of associates have been added since then to serve its clients’ rapidly changing and expanding needs. Scaling wasn’t without challenges, either. The business is capital-intensive and budget-sensitive, requiring procurement of up to hundreds of high-end video display monitors at a time.
Those demands and the prospect of a £5 million contract spurred the company’s connection to C2FO. A large client seeking to support its small business supply chain suggested that ADXBA try the C2FO platform.
“We can draw down on approved invoices within days and with no ongoing contractual requirement.” Jim Kerr, Managing Director, ADXBA
ADXBA welcomed converting invoices already approved by buyers into cash within days.
By accelerating these invoice payments, ADXBA has grown despite the general absence of travellers from global airports and other transit hubs that the company primarily served before COVID-19.
With more capital in hand, the company made bold moves that earlier seemed out of reach, if not unthinkable, including:
Adding an assembly and production facility
Reducing its reliance on third-party installers
Diversifying its customer base to include stadiums and arenas
Retaining and expanding its accredited associates during highly transitional economic times
Controlling not only receipt of funds but also how they could be used
With travel and event attendance increasing, ADXBA can continue to prosper with the help of C2FO’s Early Payment.
“It’s a very, very simple platform. It’s easy to use, and the real benefit that our credit control team gets is pure transparency, ” Kerr said.
As 2022 progresses, finding new markets and sustainable growth appears well within sight for Kerr and his ADXBA team.