Case Study: Petrochem Field Services improves cash flow forecasting with C2FO

Petrochem Field Services improves cash flow with C2FO for 35% of project work

Petrochem Field Services, a Texas-based maintenance provider for petrochemical refineries, faced a significant cash flow challenge due to seasonal work and long customer payment terms of 30 to 75 days, while needing to meet weekly payroll. To bridge this gap, the company historically relied on traditional credit lines and invoice factoring. They implemented the ExxonMobil Early Payment Program via C2FO's platform as a new financial tool.

The solution from C2FO provided an easier, more controllable method for early invoice payments without the paperwork or third-party involvement of factoring. Petrochem gained the ability to set the discount rate and improved cash flow forecasting, which allowed them to confidently take on more projects and meet payroll demands. Using C2FO also gave the company greater leverage in negotiations with its other financial providers.

Petrochem Field Services