|
|
Invoice Discounting keeps cash
flowing at Pl@n:IT
For companies in the recruitment sector, the constant challenge is to have cash readily available, to pay wages for a high turnover of candidates placed with Clients. This reliance on cash liquidity means that many firms have already turned away from bank funding to invoice finance as a means of maintaining their cash flow. Pl@n:IT Recruitment Ltd, a recruitment consultancy specialising in placing people within the IT sector, is one such company. MD Mark Palfrey thought that the traditional banking service they were using was too expensive and decided to search for a provider that would be more cost effective, flexible, and able to better meet the needs of his fast growing company.
Mark was introduced to Close Invoice Finance and has since not looked back. He said "Close ticked all the boxes in terms of what our company needed. They also brought something different to the party - their innovative online invoice discounting product IDealTM, which really sets them apart from all other providers". IDealTM enabled Pl@n:IT to streamline their accounting processes, saving time and money, and, most importantly, allowed Mark to obtain fully up-to-date, reconciled accounts in real time. As a result, he was able to understand precisely how much credit his business had tied up in invoices at any given time.
IDealTM works by recalculating how much cash Pl@n:IT has available as soon as an invoice is posted. This helps the company to access up to 15% more cash than available through comparable banking facilities, all at the click of a mouse! The accounts team at Pl@n:IT found the web-based IDealTM platform clear and simple to use. They were particularly delighted with the fact that, after a short induction process, it even removed the need for them to chase invoices.
"We have an excellent relationship with Close" said Mark. "They have a commercially astute way of working which gives us the flexibility to trade at whatever level we want. IDealTM and the team behind it are better than anything I've experienced in the last 10 years. I really can't see us using any other invoice discounting firm in the future".
David Thomson, Chief Executive of Close Invoice Finance said,
"Pl@n:IT is a fast growing business that relies on having cash available to sustain their day-to-day operations. IDealTM was a great fit for their business requirements, a product that lets them know in real time what cash they have available. By understanding their business and providing a secure financing solution, as well as with excellent customer service and business expertise, we have helped them to grow and achieve high levels of commercial success".
 |
 |
If you'd like to find out more about how Close's portfolio of invoice discounting and factoring services can support your business please visit www.closeinvoice.co.uk or call 0800 220 257 to discuss your requirements. |
 |
| |
|
