Outdoor Voices
When they needed seasonal cash flow flexibility they knew exactly who to turn to.
2 min. read
The great outdoors.
Founded in 2013, apparel company Outdoor Voices has been steadily charting a path to success in a crowded marketplace. And while their growth has been consistent it has also uncovered new opportunities to better use their existing cash flow. Which is how Sarah Stinnet, Outdoor Voices’ Director of Financing and Accounting, came to using Plastiq.
The peaks and valleys of retail.
“The retail business is very lumpy in terms of inventory–we’re buying a lot in Q3 for Black Friday, Cyber Monday and all the way through to the end of December. And that affects our cash flow,” Stinnet says. By using Plastiq as their payment platform, they can stretch out the time required to pay for that inventory while keeping more cash on hand.
It starts with flexibility.
“A Q3 cash crunch is more than just an inconvenience. “We have to maintain a minimum cash balance and when we hit that seasonality it becomes a challenge,” Stinnet explained. “Plastiq gives us that flexibility to utilize.”
Bridging the gap.
This same flexibility lets Outdoor Voices pay for multiple business expenses by card without worrying about the methods their vendors and suppliers accept. From overseas inventory purchase to paying for social media marketing, Plastiq has allowed them to pay their way. “I think of it as a liquidity option–how can you make the best use of your credit lines when you have a gap in vendor functionality?”
Plastiq is really useful because I can automate certain
processes that usually take hours out of my week.
JJosh Barrus, Staff Accountant,
Dynamic Blending
Climbing higher.
As they trek toward $100 million in sales while continuing to expand, Stinnet and Outdoor Voices see PLastiq as a key platform for their business. “We’re doing a better job as the company matures trying to manage cash flow from the supplier perspective. We’ve really been able to leverage Plastiq for that.”
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