Securing a positive cash flow when you’re in the digital media industry can be tricky.
When your people are your assets, rather than tangible machinery or stock, securing finance through traditional banking methods can be outdated for the fast moving digital world.
That’s why so many digital media agencies are choosing invoice factoring for their working capital and cash flow needs.
“Having a fluid cash flow is essential. If we’ve not been paid by clients we can’t miss opportunities simply because there’s little money in the bank", says Craig Mills, Managing Director, Frontera, a specialist creative agency in the healthcare arena.
Instant, rapid, responsive, dynamic financing to suit the digital media industry...
Here’s How it Works:
Issue your invoice as usual
Upload a copy to us, via our online portal
We advance up to 90% of the invoice value within 24 hours (balance to follow)
We chase payment from your client, as if we are your ‘in-house’ credit control team
Once payment is received you receive the balance (10%)
“Speaking to Calverton Finance we instantly felt they understood the industry. Their approach was flexible. It feels like they are an extension to our own finance department” says Stuart McDonald, Co-founder, Ball Street Network, an online media channel agency.
Want to dip in and out of invoice factoring? Then choose selective invoice factoring where you choose which invoices to factor and when!
As a relatively new start up business, Ball Street Network needed to ensure they could juggle part payments and late paying customers against meeting their overhead demands.
The Media Industry
Explaining, Stuart McDonald, continues, “in the media industry we are seeing payment terms increasing and even good customers can make late payments, so we’re always working hard to minimise the impact of cash flow on our business. It only takes a few unpleasant surprises to hit you at once to have a cash flow crisis on your hands. We needed a solution that could move as quickly as our business does".
As an established business, Frontera’s Craig Mills, believes in the values of factoring, adding, “Having an invoice factoring solution that we could adapt and modify has meant we are getting the very most out of this finance arrangement. So even when we aren’t using the facility we know that we can take strength from the fact it’s behind us. It gives us peace of mind and reassurance".
You Are Not Borrowing
Over 40,000 businesses in the UK use invoice factoring in some form, and the numbers are growing. Don’t think of this as borrowing money, it’s an advance of the money you are already owed. Simply put, you get paid instantly on billable works!
The other real benefit of the facility is that it grows as you grow, there is no requirement for constant renegotiates to increase your funding. Proof of the pudding is that here at Calverton, we’ve helped our clients grow their sales by 15% on average in the last year alone! As such, we are award winning, having won the coveted title of ‘Best Smaller Invoice Financier 2017’ by Business Money magazine.
Our fees are amongst the best in the market place and we regularly review them to ensure we are competitive and value for money. So call us today and see how we can help you manage your cash flow and working capital, enabling you to grow, expand and prosper; just like our hundreds of other customers.
Image courtesy of Master isolated images at FreeDigitalPhotos.net