Hopeway trading company specialises in the field of supplying, testing, commissioning, and maintaining electronic systems. They have a sterling track record, having delivering over 55 projects in Saudi Arabia since their inception in 2007. Some of their notable projects are:
Being a specialized company, Hopeway had a strong pipeline of projects and were in high demand. However, their issue was that with their typical government or corporate client, the payment terms were:
On the other hand, Hopeway’s international suppliers, such as Honeywell, BOSCH & CISCO, only worked on 100% advance payments. This meant that Hopeway could only capture a very limited part of its pipeline due to the lack of working capital and the long cash conversion cycle.
In 2023, one such opportunity was the supply of Fire Fighting Systems worth SAR 217,000 - where Hopeway had a cash shortfall of 115,000 SAR.
Hopeway found out about Buildnow's "Build Now Pay Later" solution through Overseas Construction Company (OCC) - a loyal customer of Buildnow and one of Hopeway's old clients. Knowing the challenge all too well, Buildnow quickly assessed Hopeway's request and agreed to facilitate the supply of the required materials on a 3-month credit period. This was ideal for Hopeway as it meant they could:
This win-win solution ensured not only increased revenues for Hopeway but also the continuation of their great reputation in the market.
Since then, Hopeway has continued to use Buildnow's "Build Now Pay Later" solution for all of their projects. “Buildnow has been a gamechanger, allowing us to take on more projects, expand our business, and serve a wider range of clients.”
Additionally, Hopeway has partnered with several other companies to offer their clients a complete range of services, including design, installation, and maintenance. These partnerships have enabled Hopeway to become a one-stop-shop for all of their clients' electronic system needs.
Overall, Hopeway has become a leading player in the electronic systems industry in Saudi Arabia, thanks in part to their partnership with Buildnow and their dedication to providing top-quality services to their clients.
