Quartix makes Majestic Kitchen + Bath an easy buyer to do business with

Dan Wascher, CFO of Majestic Kitchen + Bath (Majestic)experienced a significant increase in demand from clients due to the sharp increase in home building in 2021. With Quartix, Majestic was able to improve vendor relations and position itself as a premium, prioritized buyer at no cost, in order to guarantee supply continuity, essential for growth.

The Client (‘buyer’): A premier fabricator of hard surfaces, glass and accessories

Majestic is a leading provider of quartz,granite, cultured marble, and glass products across the Southeast US. Majestic produces hundreds of kitchen countertops, bathroom vanities, showers, shelves and mirrors to meet the high standards of builder’s specifications for residential, multi-family and commercial segments.

The Challenge: Supply continuity while maintaining cash flow, accelerated growth,and excellent vendor relations.

Supply continuity and vendor relations are vital for company growth. Ryan Peed, Majestic’s procurement director, ensures warehouse demand is met with constant and quality supply of product. Ryan was faced with logistical difficulties due to Covid with suppliers and increased demand, which also increased competitor demand.

To lessen these headwinds, Dan and Ryan had to operate in a way to become a magnet for new supplier partnerships and reward current suppliers, while preserving the original vendor payment terms Majestic agreed to.

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Quartix helped us improve supply continuity and avoid disruptions during critical stages of accelerated growth. It gave us flexibility to maintain our current payment terms. Quartix combined flexibility and affordability, leading to higher vendor adoption and higher value to us

Dan Wascher

CFO, Majestic Kitchen + Bath

The Solution: On-demand 3rd-party funded early payments to selected vendors

 Long payment terms and tight margins are common in the industry. Companies that offer optional early payments to vendors gain an unfair advantage in regards to competition. However, Majestic’s Cash flow would be impacted if they paid early.

Quartix allowed Majestic to break this trade-off.

Majestic’s preferred vendors can now accelerate any payment approved by Majestic when needed, with only a small fee for requests, while Majestic did not need to pay early. Quartix funded those early payments using its own capital, collecting from Majestic when those payments were due.

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Unlocking this vendor friendly early payment channel to my vendors made conversations easier with many of our vendors. Payment terms are less of an issue now. I also have a new “negotiation asset” that costs us nothing, available to me during commercial terms negotiations with vendors

Ryan Peed

Procurement Director, Majestic Kitchen + Bath

The Impact: Product reaching Majestic’s warehouses on time, every time

Vendors that needed to get paid faster no longer had to request Majestic to pay them ahead of time. Suppliers could get early payment from Quartix.

Since Quartix only funds early payments of approved payments, vendors had another incentive to ship quality goods on time and to make sure their invoices are approved quickly. Finally, Majestic obtained another tool that enabled it build long-term relationships with key vendors, reduce vendor turnover and overall strengthen its supply chain.

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Implementing Quartix was quick and easy. We went live within a few weeks. The day-to-day operation is seamless and without a change to how payments are made

Dan Wascher

CFO, Majestic Kitchen + Bath

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