High supplier satisfaction continues to drive market growth.
November 24, 2014 Kansas City, Mo. — C2FO, the world’s market for working capital®, announced today that its overall Net Promoter Score (NPS) for the third quarter has risen to 61, a substantial increase over last quarter. NPS is a customer loyalty metric based on the likelihood of a client to recommend a company’s product or services. According to experts an NPS of 50 or more is considered a ‘world class’ rating.
The C2FO overall NPS score of 61, combined with a supplier support NPS of 70 and an overall recommendation rate of 91 percent, shows the value of a supplier focused approach to working capital. Based on their high satisfaction with C2FO, more than 95 percent of suppliers noted plans to use C2FO on an ongoing basis.
“As we grow the size of the C2FO market, we continue to obsess over the performance of our marketplace technology and our supplier relationship management team, which is reflected well in the feedback we received this quarter,” said Sanjay Gupta, Chief Marketing Officer. “We pride ourselves on being a uniquely supplier-friendly solution. Our marketplace is driven by a supplier pull versus buyer push model, where suppliers control their rates and optionality. Because of this the average supplier in the C2FO marketplace participates more than 80 times per year.”
C2FO is used by major organizations around the world that have committed to working with suppliers to expedite payments. In just five years, the C2FO market has delivered more than $10 billion in working capital and over 60 million days of accelerated payment to companies across the globe.