Facility size: £1,000,000
This fast-growing recruitment company decided to change invoice finance providers after feeling they were receiving a less flexible, slow approach from their original funder.
At Close Brothers Invoice Finance, we were confident that we could deliver an improved level of customer service. We explained that they would be assigned a dedicated client manager to answer queries and give advice, from day one.
We also took time to listen to business' immediate needs and long-term goals, and adapted the solution to meet their requirements. After considering their previous invoice discounting facility, we improved cash flow by increasing the upfront payment they received to 85% of the value of their customer invoices and were able to provide cost savings compared to the rates they has been paying.
The recruitment firm also benefited from enhanced visibility of their funding by using our automated invoice discounting platform, IDeal™. This gives a live view of available cash and access to funds 24/7. It also integrates with the accounts platform and automatically reconciles invoice payments, allowing the company to be more efficient.