ENTERPRISE CASE STUDY TESTIMONIAL
C2FO Helps Air France and Amarante International Strengthen the Buyer-Supplier Relationship
25 March 2022 |
The C2FO Team
C2FO is unquestionably effective at accelerating payments from enterprise buyers to their suppliers.
Amarante International, a security provider for Air France, says that its invoices are now paid 30 days earlier than they were before the aerospace giant started using C2FO’s platform.
But there’s another benefit to C2FO’s solution: It has increased in-house awareness of Air France’s purchasing department.
“The payment component is now on the agenda in our steering committees, where it never was before!” said Jean-Charles Cassé, corporate purchasing and marketing director at Air France at Air France. “And not only is it now on the agendas, it’s also increasingly included in our supplier contracts’ payment clause.” From the start, suppliers can sign up to potentially have their invoices paid early.
Early payment is a great example of how corporations like Air France can offer support to their suppliers. Air France typically collects its revenues before it provides service, while Amarante International must bill after it has provided service. By paying suppliers early, Air France can use its cash on hand to provide badly needed working capital to suppliers, so those companies can meet their financial obligations and even grow their businesses.
"We have cash flows that we can put at our suppliers’ service, in order to strengthen the logistics of this whole value chain," said Bruno Lecerf, finance and treasury director at Air France. This makes it possible to reinforce the social dimension of CSR, which often only covers the environmental issues around air transport.