Case Studies - 6 Recent Invoice Finance Clients
This is a summary of half a dozen recent factoring and invoice finance clients for which FundInvoice successfully found facilities. It provides a flavour of the different sizes, trades, products and circumstances that we can help with.
Case Study 1 - 50% Cost Saving
A facilities management company, with an annual turnover of more than £4m found a cost saving of c.50% on their existing invoice finance charges. We conduct regular mystery shopper pricing comparisons which help us determine where clients will find the best deals. This was in addition to increased funding levels achieved by the relaxation of a prime debtor restriction and the uplifting of their prepayment percentage.
Case Study 2 - Invoice Finance Facility Breach
Recourse factoring was provided to a business turning over £1,600,000, by an independent invoice financing specialist. The client had developed relationship problems with their existing financier due to a minor breach of their existing facility. Despite this, we were able to find them provider that could help.
Case Study 3 - New Startup Funding & Payroll Assistance
We were able to help a new startup recruitment company serving the oil and gas industry with both payroll assistance and funding to support their future growth. With a payroll management solution, all the hassle of managing payroll, for large numbers of staff members, is handled by an outsourcer who has specialist staff on hand. In addition, funding can be provided against invoices and this can be used to help meet the cost of staff wages.
Case Study 4 - Green Deal Invoice Finance
A government green deal scheme contractor, offering insulation installation services, with a projected turnover of £450,000 pa was able to use recourse factoring to fund the growth of their start-up business.
Case Study 5 - Payroll and Factoring
We were able to find both a payroll management solution and an invoice factoring facility for a new start-up business within the recruitment sector. The business was anticipating a turnover of £750K pa and so needed both help running the payroll and funding to support their growth. The complete solution was provided by the invoice finance arm of a major UK bank.
Case Study 6 - Systems Problems
One business that we were able to help was unhappy with their existing invoice finance provider as they were unable to work with the electronic system that the factoring company used. We were able to find offers from providers that we knew used alternative systems.
The 6 case studies above show that we can assist with several different scenarios and products:
- Small and larger businesses
- Startups and established companies
- Payroll support and funding products
- Independent and bank-owned providers
- Cost savings and service issues
- Wide range of different industry sectors
