With C2FO, PAREXEL hits its days sales outstanding targets, funds acquisitions, and pays down debt—all with zero hassle at a rate that works.
PAREXEL International is a $2B global consulting firm that conducts clinical trials on behalf of its pharmaceutical clients to expedite the drug approval process.
As the second largest clinical research organization in the world, it has helped develop 95% of the 200 top-selling pharmaceuticals on the market today.
“Whether we are trying to hit DSO targets for the quarter, need working capital for an acquisition, or need cash for our debt capacity to remain at a certain level, we work with C2FO.”
Sekar Sundaram, Director of Treasury
For a large corporation like PAREXEL, a robust cash management strategy provides a unique set of challenges. The demands of the business can call for the financial team to accomplish a variety of objectives like reducing DSO, funding acquisitions, and managing debt levels.
Traditional funding options can only help with some of these—and not without creating additional debt obligations.
With on-demand access to the cash it has tied up in receivables, C2FO allows PAREXEL to tackle all of these financial objectives without taking on debt.
Sekar Sundaram, PAREXEL’s Director of Treasury, loves C2FO’s flexibility as a cash management tool. There’s no paperwork, fees, or commitments, and he can choose a rate that works for the company.
“You choose the rate, when to use the market and how much cash you need, so you have plenty of flexibility.”
With a strong cash management strategy in place, PAREXEL can focus on doing what it does best—getting better pharmaceuticals to market.