Medical Retailer Sees Its Own Cherished Values in Training and Service of its Bank
A Q&A with Ken Sandler, CEO at Medical West
WHAT ARE THE BIGGEST CHALLENGES YOU FACE AS A BUSINESS?
We manage 250 vendors across seven locations and are seeing payment terms lengthen across the industry. This makes expediting payments due to cash flow constraints our biggest challenge. When pairing that with our workforce of 225 employees, which is growing at 15-20% a year, it creates a balancing act we have to manage. These two facets have combined to change how we operate today.
HOW DID ENTERPRISE HELP SOLVE THESE CHALLENGES?
When we began working with the bank, their treasury management team worked 1-on-1 with my staff, ensuring they were comfortable with the bank’s online platform to manage our accounts payable and receivable process, as well as to run the necessary reports. In addition, we recently used our line-of-credit for the first time as a result of payment terms extending. The level of service we have received drew me to bring my personal accounts to Enterprise as well. My private banker is genuine, sincere and attentive. She’s been helpful with my family and even volunteered to meet my mother at her home if needed; to me that is outstanding service. In my business we aim to exceed expectations and that’s what she has always done.
WHAT IS THE IMPACT TO YOUR BUSINESS?
The bank I was with before this made me jump through hoops to get my problems solved. I have to jump through enough hoops at work as it is. The service I have received has given me peace of mind my problems will be handled attentively. At the end of the day, business is all about relationships. My company would not have grown without the relationships we’ve built. We want our patients to feel like they are the most important person. Its clear to me Enterprise operates just like we do.
Business SnapshotMedical West
For generations Medical West has been a respected member of the St. Louis medical community. Superior, in-stock product lines are supported by our uniquely professional medical staff, making us a trusted referral source since 1955.
Everyone I’ve met at Enterprise has been cordial and accommodating. You have a culture that starts with the tellers and runs through all the staff I’ve met. You don’t often see that in business.
St. Louis, MO