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A New Era in Invoice Finance

Award winning, Close Invoice Finance, one of the country’s leading independent providers of Invoice Discounting has launched the ultimate Invoice Financing facility.

IDeal is an exciting web based software system that integrates seamlessly with all available accounting packages making a paperless Invoice Discounting product a reality.

It completely eliminates the mountain of paperwork traditionally associated with Invoice Discounting meaning that the production of invoice listings, copy credit notes and monthly reconciliations are all a thing of the past.

Ideal benefits:

• Secure web based platform compatible with all software accounting packages
• Totally paperless. No need to produce schedules of invoices or credit notes.
• Removes the need for monthly reconciliations.
• Increase funding over traditional facilities of up to 15%
• A predictable flat fee service charge.

David Thomson, CEO, Close Invoice Finance commented, “The term unique is often used inappropriately in business, but on this occasion I think it’s justified. I really can’t recall another solution that takes the hassle out of cash flow management like IDeal. To remove all of the paper and the manual monthly reconciliation process is a real break through.

IDeal sits on a secure web based platform and because it is fully automated it lifts all the required ledger information direct from any of the available accounting software packages.
All invoicing and customer payment transactions are conducted through IDeal which automatically self reconciles on a daily basis.

Thomson goes on to say “The fact that the system reconciles on a daily basis rather than monthly has a big impact on the funds available to our clients. We have seen gains in funds available to clients of up 15% when compared with the old fashioned way of reconciling monthly. That’s extremely important to clients as all our research shows that increased funding is one of the most sought after features of any Invoice Discounting facility”

IDeal is available to any business using an electronic software package and having UK sales of at least £200k per year. It is particularly suitable to businesses that have previously only been able to access Factoring type solutions from other providers or who have not been able to gain an Invoice Discounting facility because of stringent qualification criteria.

However, IDeal loses none of the benefits of traditional facilities as it can be run on a completely confidential basis meaning that customers of firms using IDeal are unaware of the funding arrangements in place.
Thomson concludes by saying “In addition to all the operating features we are offering Ideal for a fixed monthly administration charge set according to the turnover of the business. This means that any business knows in advance exactly how much IDeal will cost in any given year.

Businesses eager to enter an IDeal world should contact 0800 220257 to discuss their requirements.

Close Invoice Finance was awarded “Best Factor and Invoice Discounter 2006” by Business Money Facts

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