G3 INSIGHT - QUIXANT
Te importance of partnerships in challenging times
Te word ‘partnership’ is thrown around a little bit during times when the business environment is straightforward. It is often referred to when writing strategic plans and PR, but the real meaning of partnership in business is only really established in times when we are challenged. It is easy to be a good ‘partner’ when the market is growing, and difficult choices are not required to be made.
Duncan Faithfull Chief Commercial Officer, Quixant
Duncan Faithfull has 30 years of experience in commercial roles, with 10+ years at board level, and has worked across various industries including finance, logistics and pharmaceuticals. Duncan joined Quixant in early 2020, and as Chief Commercial Officer is responsible for corporate strategy development and enhancing the customer journey. Duncan brings with him a thorough understanding of modelling and delivering outsourced solutions that allow customers to focus on most effectively delivering their customer strategies.
When markets struggle, as ours has for the last 12 months, it is a time for true partnerships to be tested, and where decisions have to be made which enable business to continue in the short-term, but with an eye on future growth when markets ease.
A great example of this is how our supply chain dealt with the sudden, and extensive, market closures of operations across the world. When our client ‘partners’ had sudden and severe cash flow challenges, meaning payment for our products could not happen, we were faced with two choices: firstly; to stop supply and to chase payment hard or, secondly; measure the impact on our own cash reserves if we kept supplying, and creating flexible payment solutions to allow our partners to keep manufacturing in readiness for the future. Neither of these choices would have been wrong, but our
“Quixant has been a partner of Ainsworth for many years, but 2020 showed the true meaning, and value, of our partnership. At a time when our customers’ venues were closed and everyone was working to manage cash flow through the pandemic, Quixant presented us with a payment solution which allowed us to concentrate on running our business, and to focus on growth post-pandemic, benefiting both organisations through 2021 and beyond. While undoubtedly a challenging year, 2020 further strengthened our relationship with Quixant, as their forward thinking and innovative attitude demonstrated the true value of effective partnership.”
Ryan Comstock; Chief Operating Officer, Ainsworth Game Technology
chosen path allowed our partners to continue to focus on creating great game content, safe in the knowledge that critical hardware would be available for these to be developed on when the markets reopened, enabling them to stay ‘ahead of the game’ in readiness for a brighter future.
Tis is the essence of partnership. Working towards common goals and shared long-term objectives, even when there may be a potentially negative impact in the short-term. At Quixant, we saw the strategic benefits of working openly and transparently with our partners, even when the conversations were potentially tough to have. We believe that this approach has further strengthened our relationships, and trust, which will best position everyone for future growth.
Tese are easy statements to make as a supplier, but it’s the view of our partners which matter to us at Quixant. Below are a couple of examples of what our strategic partners think of the approach to the challenges of 2020. When approached, this is what Ryan Comstock, COO at Ainsworth and Dean Ehrlich, Executive Vice President & Games Business Leader at Everi said about the importance of our partnership:
“2020 was a challenging and uncertain time for Everi and the entire gaming community, as our end markets were severely impacted by pandemic-related restrictions. As a result, we had to carefully manage our cash flow , and Quixant was very responsive to the situation. Together, we were able to collaboratively work to manage the challenges, enabling us to maintain an eye to the horizon and the growth prospects beyond. Our partnership with Quixant is an important relationship to us, and together we look to a successful future.”
Dean Ehrlich; Executive Vice President & Games Business Leader, Everi
P42 WIRE / PULSE / INSIGHT / REPORTS
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