Ammo International Sees 5% Sales Boost with Quartix's BNPL Product
Headquartered in New York, Ammo International is a thriving wholesale Electrical Manufacturer catering to the wholesale and distributor market. Led by the vision of their founder and CEO, Michael Friedman, the company has earned a reputation for helping clients control inventory costs on everyday electrical supplies, thereby boosting their profitability.
Nevertheless, even with such a robust business model, Ammo faced some obstacles. The major hurdle was rapidly expanding its inventory due to the fast payment requirements from their suppliers. These challenges not only stifled their growth, but also limited their ability to seize identified market opportunities.
Ammo identified the need for a solution that was both flexible and effective. The team set out three primary objectives:
- Identifying a solution that would provide flexibility for funding strategic purchases.
- Ensuring there was no obligatory commitment towards their funding partner.
- Maintaining control over when and how to fund purchases, preventing unnecessary costs.
Michael and his team found their solution in Quartix's Buy Now Pay Later (BNPL) product. This user-friendly digital platform allowed Ammo to selectively fund purchasing transactions. More importantly, the BNPL product ensured the availability of necessary financing within 24 hours, facilitating prompt vendor payments—a critical aspect of Ammo's operation. The BNPL solution's hallmark feature was the flexibility it offered. This meant that Ammo wouldn't incur any financing costs when the product wasn't being utilized, thus aligning with their second objective.