Supplier satisfaction and gross margin improvement are key factors driving the C2FO renewal
March 31, 2014, Kansas City, Mo. – C2FO, the world’s market for working capital™, announced today that it has signed an extension to its agreement with Costco Wholesale Corp., allowing Costco suppliers to continue taking advantage of the dynamic early payment marketplace.
C2FO is a simple and cost-effective way for suppliers to improve their cash flow and save money. The rapidly growing program at Costco has been available since June of 2011 and has received high praise from Costco suppliers.
C2FO has a Net Promoter Score of 60 and overall supplier recommendation rate of 91%. NPS is a customer loyalty metric based on the likelihood of a customer to recommend a company’s product or services. An NPS of 50+ is considered ‘world class’ among experts.
“Our goal is to help Costco provide its suppliers with an additional working capital funding option at competitive rates while simultaneously lowering the cost of goods for Costco and its Members,” said Peter Novosel, C2FO Executive Vice President. “Suppliers love the program because it’s easy to use and provides them with efficient access to cash needed to operate their businesses,” added Novosel.