May 16, 2024
How Crystal Creek Homes is saving money and helping suppliers with Quickly.
Crystal Creek’s suppliers need faster payments to keep up with their working capital needs. Crystal Creek wanted to find a way to keep their suppliers happy while improving their profitability and maintaining their own cash flow.
Quickly created an Early Payment Program for Crystal Creek, allowing them to offer early payments to their suppliers for a small discount. The suppliers get paid when they choose–Crystal Creek pays on their normal terms, and Quickly automates the whole process.
Established in 2004 by Justin Bobier, Crystal Creek Homes is an award-winning full-spectrum new home builder in Alberta, Canada.
Celebrating their 20th anniversary in 2024, Crystal Creek Homes has seen significant success and growth by remaining true to its guiding principle of making the process of designing and building beautiful homes seamless and rewarding.
They have over 50 employees and build over 150 homes per year and continue to win awards and the hearts of their customers.
As a growing company in a labor constrained environment, Crystal Creek Homes is constantly looking for ways to deliver better results for their customers and improve their profitability.
A key aspect of this is improving relations with their subcontractors and suppliers by increasing vendor satisfaction and retention. They take a proactive approach by hosting vendor town halls and offsite events to keep their finger on the pulse.
The recurring theme that emerged for Crystal Creek Homes was faster payment terms for these suppliers.
Suppliers struggled with cash flow issues, wanted to be paid faster than current payment terms allowed, and had limited options to access working capital in a timely manner.
It started with a LinkedIn message from our CEO to Justin and a follow-up video meeting. Justin was acutely aware of the challenge and loved our solution, conceptually, right away. We then met with Crystal Creek Homes’ operations team to understand their vendor relationship management process.
We then met with their CFO and accounting team to understand their invoice intake, approvals, accounting system entry, and payment processes. We then showed off our platform with a demo. We followed this up with an onboarding plan and they were in!
They saw how they could save money while improving vendor businesses, how intuitive and easy Quickly is to use and how minimal the change to their existing process was.
Crystal Creek Homes started using Quickly in late 2023 to offer early payments to their suppliers in exchange for a small discount. Quickly automated the whole process by integrating with Crystal Creek’s systems.
It was a win-win for both sides. Crystal Creek lowers its costs, which improves its profitability. Meanwhile, their suppliers increase their cash flow Quickly when they choose, without borrowing money. Suppliers use that money to pay bills, buy inventory and grow their businesses.
Through our integration, all early payment transactions are recorded in Crystal Creek’s accounting system with minimal interruption to their accounting team.
Crystal Creek’s Early Payment Program with Quickly has seen impressive results in a short period of time. The ROI was nearly instant, especially because Quickly is free!
Are you interested in learning how an Early Payment Program could benefit your company? Contact us at Quickly to discover how you can also achieve improved cash flow and operational efficiency.
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