Case Study: Philips de-risks its supply chain with C2FO

Philips goes live in 10 weeks with C2FO and reaches ROI in 30 days

Philips, a Dutch healthcare company, faced challenges with its previous bank-led supply chain finance solution, which was paperwork-intensive and only accessible to larger suppliers. They partnered with C2FO to develop a new working capital program with the objectives of offering suppliers easier access to liquidity, increasing participation, and de-risking their supply chain.

C2FO implemented its early payment program for Philips, which went live globally in 10 weeks with minimal integration required. The solution provided vital flexibility, allowing Philips to create a special rate market for medical equipment suppliers during the COVID-19 pandemic. The results for Philips were significant, with a return on investment within 30 days and over 19,750 suppliers now having their accounts payable on the C2FO platform.

Philips