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Revolutionary Invoice Discounting Facility Proves a Winner

Businesses have been rushing to sign up to IDeal, the revolutionary new online invoice discounting facility from Close Invoice Finance (CIF)

It already boasts 100 new clients – with up to 30 more signing on each month - since its introduction in September 2006.

What’s staggering is 30per cent of new clients are being poached from CIF competitors. They, in common with other new clients, are from a diverse range of businesses. They recognise the sense of realising the cash tied up in their sales ledger without recourse to the traditional administration burden.

Clare Howells, Director, of Witham, Essex based, Kline Davis Recruitment commented, “We were with HSBC for about six years and it just got too onerous dealing with them. We had to do our own credit checks, for example, and this was just taking far too long. The online system offered by Close Invoice Finance makes life so much simpler and the entire process is much more technologically advanced than it was. Because everything goes through our SAGE system, anything that we do CIF can access and that makes processing invoices much quicker and life more straight forward.”

IDeal is tailored to make life easy for businesses who are currently using or are considering using invoice finance products. There is NO need for any paper work. Clients do not have to produce invoice listings or the monthly reconciliation’s common with other traditional Invoice Finance facilities. The entire sales ledger is transferred via a unique, secure, electronic link. This enables CIF to remit payments quickly. These can be up to 95% of the value of the client’s invoices and are made available to the client through the mere click of the mouse.

The individual business retains responsibility for credit control the sales ledger and collections activities. Plus the facility can be completely confidential so that customers remain unaware of CIFs involvement.

CIF sales and marketing director Peter Flynn said: “We are delighted that IDeal has been so well received by the market. The secret of its success is its simplicity, it is quick and straight forward but also attracts firms that may not have considered Invoice Finance before. We had high hopes for this product, and although it is still early days, it looks like those hopes are being realised.”

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

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