With C2FO, Do it Best generates better returns on short-term cash, enabling the co-op to increase member rebates without adding headcount.
Do it Best Corp. is the only U.S.-based, member-owned hardware and building materials buying cooperative in the home improvement industry. With annual sales of $2.4 billion, Do it Best Corp. is the second largest co-op in the industry, serving more than 4,000 member-owned locations in the United States and 50 foreign countries.
“C2FO makes total sense for us because we cannot earn a higher yield elsewhere. We see high supplier demand for the program as well.”
Treasury Team Lead
Despite a strong cash position, Do it Best is always looking for smarter ways to invest capital, grow the business, manage expenses, and partner with vendors.
That commitment to excellence is the basis of its ability to provide incredible value to members—and the reason that member rebates have exceeded $100 million every year since 2004.
When Do it Best set out to find a dynamic discounting solution to help accomplish its financial objectives, convenience was a big factor. Do it Best selected C2FO because the program was so easy to set up. Company stakeholders also appreciated the smooth implementation in spite of its legacy technology.
For Do it Best vendors, C2FO provides a world-class dynamic discounting platform that gives them control of their cash flow. As an added benefit, the platform acts as an invoice portal that provides vendors with invoice and payment visibility.
With the program in place and C2FO handling vendor onboarding, Do it Best can focus on running its business. The program has grown 41% year-over-year, and as returns have grown, Do it Best members benefit through the consistent growth of their annual rebate.