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 their 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 better able to meet the needs of his fast growing company. 

Mark was introduced to Close Invoice Finance and has not looked back since. He said "Close ticks all the boxes in terms of what our company needs. They also bring something different to the party - their innovative online invoice discounting product IDeal^TM, which really sets them apart from all other providers". IDeal^TM enables his business to streamline their accounting processes, saving time and money and most importantly allowing Mark to obtain fully up-to-date, reconciled accounts in real time. As a result, he is able to understand precisely how much credit his business has tied up in invoices at any given time.

IDeal^TM works by recalculating how much cash Pl@n:IT has available as soon as an invoice is posted. This helps the company 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 find the web-based IDeal^TM platform clear and simple to use. They are particularly delighted with the fact that it completely removes 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. IDeal^TM 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, CEO 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. IDeal^TM is 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 excellent customer service and business expertise, we have helped them to grow and achieve high levels of commercial success".

Find out more about how Close's portfolio of invoice discounting and factoring services can help support SME businesses at www.closeinvoice.co.uk or call 0800 220 257.