With help from C2FO, a Belgium-based translation agency was able to accelerate payment from customers and gain more control over its working capital.
For C2FO customer Little Shop of Translations, the name speaks for itself. The Antwerp, Belgium-based agency offers translation, interpreting, and other linguistic services in all European languages for a wide range of fields, including marketing, legal, medical and technical.
Owner and manager Zeljko Susljic grew the business from just a few translators in 1993 to over 100 employees in 2020. His staff includes a growing network of freelance translators who are skilled in “languages I didn’t even know existed,” Susljic said.
Like many small businesses, Little Shop of Translations relies on efficient and timely payment from clients. However, with payment terms that often extend beyond the traditional 30-day terms to 60 or even 90 days, Susljic has found it difficult to bridge the cash gap in order to meet payroll.
“I need to pay my translators and my costs much sooner, so I always have this huge (cash) gap — sometimes two or three times more,” Susljic said.
When Susljic first heard about C2FO’s platform and the early payment solution, he was skeptical that clients would want to pay him early. Now, he’s “sold.”
“It allows me to plan my business, which is everything,” Susljic said.
To learn more about Little Shop of Translations, click here.