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Video transcript: Interview with David Wood, Chief Executive, RDF Group

We are essentially a software IT support company. We develop bespoke software to our client's needs in a fairly niche market. As part of that we also have an agency side to the business, which represents about half the business, we can return on over about 27 million.

We had a very fast-growing part of the business which was contract recruitment. Obviously when you're looking at funding you look at all areas, banks, or an obvious one, overdraft, but what invoice discounting provided to us was the flexibility and the knowledge that it was there it was flexible and enabled us to be able to pay our contractors in a very very timely weekly fashion and the ability to be able to draw down immediately upon that invoice to be able to do that.

We've been using it since 1994. We've seen a rapid growth within the organization and quite simply I don't think that any other facility would have catered in the way that it has. 

Quite often there are things and there are nuances within contracts that the the people at Close are very aware of, so that phone call is very very easy to make, and the response time and can often make the difference between us signing a deal and not signing a deal.

Our people want to be paid as quickly as possible, their clients want to pay us as late as possible, and this product bridges that gap in a very very unique way. I'd recommend this to companies in a start-up situation, companies that have a high turnover of invoices etc. 

The reason we're with Close Invoice is quite simply they offer us very good value for money. As you'd expect, we're approached by our own bank and other bankers and other companies, but quite honestly, the deal that we have, the flexibility... I think the relationship would be very very difficult to match. We've invited companies to try and they've failed.

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Close Brothers Invoice Finance
Ridgeland House
165 Dyke Road, Hove
East Sussex, BN3 1UY

T: 0127 305 9530 *

*Freephone from landlines

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