Industry Sectors:

Services,

Type of Finance:

Invoice Discounting

Region:

London

Date:

14 April 2016

Recruitment agency specialising in financial services and insurance was in need of Invoice finance to manage cash flow. The company’s working capital had dried up due to long payment terms and late payments from big clients. Previous lenders were either too expensive or were rude to clients when chasing payment, creating problems for Anthony Alexandra.

The result

Danielle Morant, co-founder and managing director, said Anthony Alexandra’s balance sheets are healthy once again. Her time, previously spent chasing outstanding invoices, has been freed up allowing her to focus on her job of recruiting. The company is now looking to expand.

The story

Danielle Morant set up the company, based in Croydon, south London, 12 years ago.

The seven-strong team specialises in recruiting for back office and sales positions in the financial services and insurance companies across the UK.

Many of Anthony Alexandra’s clients are big companies which demand long payment terms of up to 90 days and even then, often fail to pay within the agreed deadline.

Payments have got later and later over the last decade and Anthony Alexandra found itself struggling to maintain a healthy cash flow. There were delays in paying staff and bills due to the lack of ready cash.

Danielle was forced to dedicate every morning issuing and reissuing invoices and chasing late payment which limited the amount of recruitment work she was able to do.

She tried working with a couple of lenders but neither proved to be up to the standards she required. One was too expensive while another was accused of being rude and “bullish” when chasing payment with clients so Danielle was forced to return to endless hours of chasing payment herself.

She approached HH Cashflow Finance about a year ago and spoke to CEO Richard Pepler, who was able to allay all her concerns following her previously negative experience of invoice finance providers. At the time a client owed Anthony Alexandra £40,000 but were unlikely to pay it within the 90 day payment schedule so Danielle decided to take action.

HH Cashflow has now been providing invoice finance to Anthony Alexandra since March last year. It pays the firm upfront for invoices issued, restoring a healthy cash flow. The money coming in from HH Cashflow has eased the pressure on chasing late payments.

The support of HH Cashflow has put Anthony Alexandra in such a strong position they are now looking to expand, starting with the recruitment of an office administrator and sales executive.

Danielle said:

“HH Cashflow has been a fantastic support. They have been personable and friendly throughout.

“Setting up the account was really straightforward and quick. I can always call and speak to my client manager about any concerns or to get advice.

“I don’t have to deal with some big office, speaking to people who don’t know me.

“Having the money paid upfront has taken the pressure off so I don’t have to spend half my time chasing invoices and can get back to what I am best at, which is recruitment.”

Our philosophy at HH Cashflow Finance is to provide UK SMEs with rapid, hassle free access to cash flow finance.

Our service-led offer is underpinned by a business support package from our friendly, expert team together with state of the art technology, offering clients real time access to their accounts. Our mission, based on combined senior team experience of over 160 years, is to take the worry of cash flow pressure away from business owners, allowing them to focus on growth and client delivery rather than spending valuable time and money on credit control.

    Robin Goddard:  01633 439600
    [email protected]

    www.hhcashflow.co.uk
    Unit 5
Langstone Business Village
Langstone
Newport
NP18 2LH