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Spotlight on Solutions Navigating industry-specific risks and opportunities: Real-life scenarios

How Truist helped businesses find tailored solutions for industry-specific needs

Our Spotlight on Solutions series highlights ways Truist relationship managers helped different businesses tackle a common challenge. It’s a great illustration of how our Truist Business Lifecycle Advisory approach centers on understanding your business inside and out—so we can offer the advice and solutions that best fit your specific needs.

Here, we focus on solutions related to industry-specific risks and opportunities. Identifying challenges and possibilities unique to your industry is crucial for maintaining competitiveness and ensuring long-term success throughout your business lifecycle. For example, while consumer tastes and preferences may drive opportunities in the beverage or food and agribusiness industries, companies in the building products industry may be more focused on economic factors such as inflation and interest rates.

See how Truist relationship managers helped their clients handle industry-specific risks and take advantage of opportunities to help drive the business forward.

Capitalizing on industry expertise to regain momentum

Challenge: A well-established, high-performing pet food manufacturer faced financial strain after a product recall led its previous bank to overreact by tightening credit and increasing pricing.

Insights: The manufacturer required a new financial institution that had a better understanding of its industry and how it could move forward after the recall. It began working with Truist, and the Truist relationship manager brought in a food and agribusiness industry specialist to analyze the company’s current situation. They were able to communicate their discoveries to other team members at the bank.

  • Recalls are common in the industry, and this appeared to be an isolated event and not an indication of bad business practices.
  • An assessment of the financial impact of the recall had been done, the company had recall insurance, and new safety protocols and improvements to the facility could likely prevent future incidents.
  • The company’s performance was tied specifically to the recall and, since then, the company had been able to retain key clients and return to strong financial performance.

Solution: Truist helped the client determine a new path forward, highlighted by access to a new credit facility.

  • The credit facility was twice the size of the company’s previous one.
  • Truist helped double the size of the company’s purchase card program and improve their billing.
  • The company implemented Wholesale Payments to improve efficiency.
  • Truist introduced Truist Securities and Truist Wealth to provide the company and its executives with holistic services.

Leveraging industry insights to get back on the road again

Challenge: A trucking company experienced a tough 18 months as supply had significantly outpaced demand in the market, resulting in difficulty securing competitive freight rates.

Insights: The client’s relationship manager brought in a Truist transportation and logistics industry specialist to provide insightful and useful context.

  • They pinpointed key macroeconomic indicators that could reverse the downturn in the trucking industry.
  • They also shared how similar companies cut costs to weather the downturn, such as extending fleet life, joining captive insurance programs, and using credit to stretch cash flow.

Solution: Truist helped the client successfully refinance a portion of their real estate debt, enhancing the business’s cash flow.

  • The company is still going strong, nearing the close of its second year in a challenging freight market downturn.

> Read more about how Truist’s industry-specific advice can help your business level up.

Are industry dynamics impacting your business?

Talk to your Truist relationship manager about ways to leverage industry expertise for your company’s success.

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