Establishing Trust Along the Supply Chain
According to CFO Ryan Miller, etaGLOBAL is a small business that packs a big punch. Incorporated in 1978 and employing 50 people, it has been providing aerospace and defense contractors with product knowledge and helping them meet their service needs for more than 40 years.
In 2007, the Charlotte, North Carolina–headquartered organization made the transition to an employee stock ownership plan (ESOP). Providing unique benefits for their employees and attracting top talent was the goal, but, over time, the structural change created friction in some of their internal processes. In a competitive industry where reputation matters, etaGLOBAL needed help to restore a sense of trust among its clients. To overcome the disruption, etaGLOBAL sought the help of a Dun & Bradstreet Concierge Manager to help get it back on track toward its aggressive growth goals.
Feeling Like the Underdog
Even though the company’s been in business more than four decades, Ryan Miller and CMO Don Flewell feel as though etaGLOBAL is a small fish in a big sea. Supply chains in general and aerospace supply chains specifically are under heavy pressure to perform, and because of their size the company also has to outperform its larger competitors. The pressure to adapt to quickly changing production needs, control costs, mitigate risks, and simultaneously shift to meet changing demand makes for an extremely competitive industry. It’s extremely important to etaGLOBAL to have credibility with its vendors and customers, which helps the company navigate the complexity of helping its enterprise customers keep pace and adapt to a volatile marketplace.
Navigating the Company to the Next Level
In 2017, the company changed direction when the ESOP board brought on a new CEO and, with that, many internal changes. During this organizational shift, one introduction was a new enterprise resource planning (ERP) system. However, some of etaGLOBAL’s existing data didn’t import correctly and some invoices were missing from the new system that the finance team didn’t realize were outstanding. At the same time, etaGLOBAL’s finance team was relocated from Texas to North Carolina, creating more lag in billing information being input into the new system. At the time, leadership was unaware of how all of this was impacting their business credit scores and ratings. Looking at etaGLOBAL’s credit report, it appeared that the company was about to go under, when that was not the case at all.
When Ryan Miller was onboarded as CFO, one of his main objectives was rebuilding etaGLOBAL’s Dun & Bradstreet credit file. He knew that many of etaGLOBAL’s clients use a score-carding system to rank vendors and that a less competitive business credit report could cost it business. He contacted a Dun & Bradstreet Credibility Concierge Manager, and together they began working to help reestablish etaGLOBAL’s reputation and trustworthiness among its peers.
Fixing the File and Seeing Results
When Ryan began working with his Concierge Manager, Donna, he discovered that much of the information in etaGLOBAL’s D&B® credit file was incorrect. etaGLOBAL’s credit file wasn’t allocated to the right industry, and the executive information and business information were out of date. Furthermore, it had multiple incorrectly reported late payments to challenge. Donna walked Ryan through etaGLOBAL’s entire credit profile, explaining why its scores looked the way they did and how it could help impact them. Ryan knew that it wouldn’t be a quick, overnight fix, but he was ready to put in the time to get it right and help save etaGLOBAL’s relationships with its clients.
Ryan got the information from Donna that he needed in order to explain to the new board what needed to be done. Donna took the lead on updating and correcting information in etaGLOBAL’s business credit file. Ryan began to see improvements in etaGLOBAL’s file and hear positive feedback from clients before they had even finished the process.
Having a stronger business credit file helped the company reestablish trust with its enterprise customers, which in turn began to extend new opportunities. Working with a Concierge Manager to understand etaGlobal’s scores and ratings and how they are linked to the company’s payment activity helped Ryan get the company back on track, set up a new system, and establish an efficient accounts payable process.
etaGLOBAL’s unfavorable credit file was not in line with its goal of stagnant growth. Through Ryan and Donna’s hard work, the new executive team could proceed with their aggressive growth plan. Once etaGLOBAL’s business credit scores and ratings were on par with where etaGLOBAL wanted them to be, the company began seeing a steady increase in opportunities.
Putting the Focus Back on Clients and Employees
etaGLOBAL is a tight-knit company with seasoned staff who are experts in their fields. The overarching goal is to grow as a company and as professionals simultaneously. With company values of “Quality, Reliability, Solutions, and Innovation,” their culture grows more cohesive and powerful every day, with staff who share a common goal and mindset.
Now that etaGLOBAL’s business credit profile has put it in good standing among its peers, Ryan and the leadership team can focus on their number one priority: culture. The new executive team has a variety of unique strengths, backgrounds, and experiences that can give etaGLOBAL a competitive advantage. Its strong leadership mindset attracts top employees, and the executive team is working hard to build a high-performance culture where every person in the organization can thrive.