Industry: Wine Wholesaler & Vineyard
Name: Ian Long
Title: Managing Director
Company: Yarraman Wines
Location: Hunter Valley, (NSW)
Industry sector: Wines (ICON – grapes)
Challenges: Increasing distribution footprint. Debtors days.
Solution: Having invoices paid earlier.
What Ian said
“Anybody coming into the wine industry has to invest a lot in equipment. Return on capital in the wine industry is not great.
Most of our customers are on open credit. So we invest in the inventory, we send it out, then we’ve got to wait 3-4 months before the money comes back in, so someone like AR (Cashflow)makes a big difference to us because a lot of that cash we can access immediately.
There are a whole range of things that we can do to make things a lot easier for ourselves. Obviously outsourcing and minimizing capital investment is one thing, utilizing AR is another.”
Note: Since working with AR Cashflow, Yarraman Wines has been able to successfully enter a very profitable niche market segment as well as significantly expand national distribution.
(Watch video from Yarraman Wines) (read the full blog post story here)
Industry: Transport & Logistics
Name: Craig Simmons
Title: General Manager
Company: Vellfam Express Pty Ltd
Location: Glenmore Park, (NSW)
Industry sector: Transportation (ICON – transportation)
Challenges: Managing invoicing and debtors days.
Solution: Access to cash and status reporting on invoices
What Craig said
“We’d used debtor finance before, but unfortunately we had a very bad experience with a major bank at the time.
My perception of factoring has now changed completely. I can’t believe how much better you guys (AR Cashflow) are. Your reports let me know where we are with every invoice…you even chase money for us.
I can see our business improving and developing in the future.
I will recommend you without hesitation.”
January 22nd, 2009.
(Watch video from Vellfam Express)
Industry: Commercial Fit-out/Construction
Name: Marko Kasalo
Company: Citisite Pty Ltd
Location: North Balgowlah, (NSW)
Industry sector: Office Fit-out (ICON – office interior)
Challenge/s: Paying suppliers
Solution: Having available cash
What Marko said
“Having the cash available helps me to manage my money better. It allows me to spread the funds and stops the struggle. I can now pay suppliers on time. I even get discounts for prompt payments.
The three main benefits of cash flow finance are:
1 Peace of mind
2 Running of the day-to-day business
3 Just easier to be in business.
I often talk to my friends and business people about your services. I tell them how debtor finance has really helped my cash flow, and how it is helping me to develop my business.
I have no issues regarding the service and my customers feel the same about dealing with you (AR Cashflow).”
January 23rd, 2009.
Watch video from Citisite Pty Ltd
Industry: Print Finishing/Printing
Name: Francis Hillier
Company: J. Williams Binding
Location: Harbord, (NSW)
Industry sector: Print Finishing (ICON – books/binding)
Challenges: Current economic climate. Price driven industry sector. Debtors days.
Solution: Having invoices paid earlier.
What Francis said
“Unfortunately, most customers pay in 45 to 60 days, so we found that we needed some way to get these invoices paid earlier.
In the current economic climate, business is pretty fierce. What you’d normally do a job for is now getting done at 70 or 30 per cent cheaper by the bloke up the road.
To survive the current economic climate, service has to be number one. You (AR Cashflow) provide the service in 24 hours that your competitors were still mucking around with over a 3 week period.
I put service as a number one priority and your company provided that. You couldn’t have got it (cash) through any quicker, and I thought that was great.”
(Watch video from J. Williams Binding)
Industry: Business Service Centre/Printing
Name: Martin Snowdon
Company: MBE Service Centre
Location: Surry Hills, (NSW)
Industry sector: Business Service Centre (ICON – office)
Challenges: 150 debtors. Paying suppliers
Solution: Having cash in bank account
What Martin said
“We provide a full business service like printing, photocopying, couriers, mailroom, binding and laminating for people that run businesses out of home to large corporates.
We have about 150 debtors, so you (AR Cashflow), have helped in a big way because we are always struggling for cash in our bank account.
The main benefit (of using AR Cashflow) is that I am able to pay my suppliers more frequently. If I didn’t have cash in my account and one of our machines broke down, the supplier would not service it and that would be a big problem for us.”
(Watch video from MBE Service Centre)
Name: Anton Nielson
Company: Bullock Transport & Engineering
Location: Greenbank, (QLD)
Industry sector: Transportation/Engineering (ICON – transportation/engineering)
Challenge/s: Chewed-up reserve capital
Solution: Established line of credit with fuel company
What Anton said
“I had chewed up my reserves (capital). If I wanted to be in business, my best option was to improve my cash flow. Once the facility was able set up a line of credit with a fuel company, my trucks could fill-up without me worrying about it.
I would not have survived three months, had I not had factoring in place…I could not have done it without you (AR Cashflow).
AR Cashflow has brought my business back to where it should be. I even find your credit checks very valuable.
I will refer you to anyone with cash flow problems.
In fact, I have already referred you some business.”
Name: Darko Sprecak
Company: Project One Developments Pty Ltd
Location: Broadbeach, (QLD)
Industry sector: Construction (ICON – construction)
Challenge/s: Debtor payment taking to long
Solution: Providing cash flow upfront and having a ‘soft’ approach with customers.
What Darko said
“I had no experience with debtor finance but a Finance Broker I know referred me to you. After that I did some research. I needed to know a bit more about the type of service you offer. Once I learnt about factoring, the choice was easy. You seemed to understand our business and fitted our criteria.
Factoring has many benefits, but the ease of having the cash available is the most important.
As to the cost, I think that flexibility is more important, it could be costly if your customers take too long to pay, but your soft approach to debt collection and follow up is very good and has not created any issues; I have no complaints from my customers.
I find you very helpful and quick to respond to any of my queries. I am very happy about everything.
I am pleased to recommend you, I have done so already and it seems to be working very well for them.”
Industry: Civil Contracting/Earth Works
Name: Eric Ward
Company: Ricom Contractors Pty Ltd
Location: Sunshine Coast (QLD)
Industry Sector: Civil Contracting/Earthworks
Challenge/s: Paying suppliers & wages bills
Solution: Access money from outstanding invoices to pay suppliers on time and wages
What Eric said
“I researched three (factoring) companies and after meeting with you (AR Cashflow), I made up my mind. It was your willingness to understand my business that influenced my decision.
In my industry supplies are critical; having the cash available has given us the opportunity to deal with more suppliers, especially with those who require cash up-front initially. It has also allowed us to spread our payments.
I find you very professional and helpful. Nothing seems to be a problem.
I would recommend your services without hesitation. You deliver what you promise, and I find you very professional.”