TP24 funds technology company to replace their restrictive invoice finance solution

Location: South West England

Industry: Wireless Technology

Revolving Credit Facility: £250,000

Our client
Assist their clients in optimising performance by leveraging technology to connect people, processes, and data. Organised into three main areas; business communications, asset tracking, and IoT.

The challenge
Our client has been through a strategic evaluation of their financial processes after realising that their current invoice finance facility was not matching their requirements. They noticed that the facility was very admin heavy and took a lot of time from their finance team.

Beside that, they were looking for more flexibility as their current facility was very restrictive and didn’t grow with them. Their final motivation to investigate other opportunities was because of the costs of an invoice finance facility. The challenge of streamlining their processes in a more cost effective way brought them to our Revolving Credit Line.

The solution
We fully understand the challenges that come with invoice financing and the pressure on the team with the required administration 

Therefore, we successfully facilitated the refinancing of their existing invoice finance arrangement, securing a more favorable interest rate and reduced fees. This had a great impact on their operational processes and subsequent reduction in administrative burdens.

Not only have they achieved immediate cost savings but also optimised their financials.