Recent Case Study
Recruitment’s Wild Ride
XYZ (Name withheld) Recruitment Ltd is an independent Auckland based recruitment consultancy providing staffing and resourcing solutions for permanent and contract staff within the food manufacturing sector. The company has been trading since 2009 and is known for delivering factory floor and management level people within the sector. As fast-growing company, XYZ's 5 employees have a breadth of experience within the recruitment and food service, management areas.
XYZ needed a finance solution to improve the company’s cashflow and allowed the business to increase its provisioning of temporary staff into the sector. In order to source a flexible and competitive financing solution, XYZ first approached their banking partner ANZ to find that the bank could not assist due to lack of tangible assets for security. Kindly the business manager at ANZ bank referred XYZ to Invoice Funders to assist in the provision of working capital based around the security of the customer invoices. XYZ contacted Invoice Funders and quickly determined that Invoice Funders spot factoring facility was competitively priced and suited to what it was looking for.
Business Development Manager Jody Kelly at Invoice Funders explains: “Most growth businesses like XYZ Recruitment turn to us because traditional bank finance will not give them the flexible financial help they need to kick-start their businesses and move on to the next level.” “Invoice Funders has a lot of experience in working with smaller clients and understand the changing needs of smaller firms. We absolutely understand the particular needs of the recruitment industry, so we’re well-suited to assisting XYZ.”
The Invoice Funders Solution
Invoice Funders understanding and experience of the issues for XYZ Recruitment was key to the decision to choose Invoice Funders as its finance partner. Invoice Funders spot factoring / invoice discounting service allows XYZ to grow quickly and cost effectively without being encumbered by lack of cashflow and underlying working capital. Results The working relationship between the two companies has grown to encompass not just the initial food manufacturing clients, but as XYZ has expanded into engineering recruitment, Invoice Funders has been able to assist with this growth whilst XYZ became a dominant player in that field. Benefits experienced by XYZ
Recruitment Solutions through Invoice Funders:
Smart Spot Factoring facility
Ease of contact and setup
Service with a personal touch
No time consuming paperwork