The rapid growth rate of a business often brings cash flow shortfalls with it.
With such an exponential growth rate, there is bound to be cash flow problems. Problems that Bizcash were able to resolve quickly, easily, and affordably.
All Sorted continued to grow from strength to strength. “The reality is that the faster we are growing the bigger the problem is becoming.” As they built up their reputation as well as their customer base, so they needed more cash, readily available. “Initially our orders were smaller but as we’ve gotten a bigger, better reputation in the industry, we’re getting more orders and bigger orders which becomes a cash flow issue as well. That was where Bizcash helped us at the beginning of this year.” explains Brenda.
“With any growing business you need more machinery, staff, more materials to get the job out quicker. And the bigger your customer base becomes the longer the terms they want. Before, we only used to do COD, now we’re having to give customers 30 - 60 day terms which affects your cash flow.”
The nature of the manufacturing industry means that from a cash flow perspective All Sorted only gets 8 months of the year where we make sales. December and January, in the construction world, are generally very quiet and often April and one other month perform poorly. This essentially means that the business needs to make enough revenue in the eight months of the year to keep them afloat. That in itself can be very stressful, add the cash flow shortfalls to the mix and it’s a makes for tough financial water to navigate through.
Brenda met the owner of Bizcash at a Sage launch in February. All Sorted had just gotten one or two big orders on the back of a quiet December/January period where cash flow is always tight. Brenda was in thke process of going to the bank for a loan to fund the orders.
“Bizcash just seemed like an interesting idea. It was just so much easier than going to the bank so I never went to the bank.”
That was one of the biggest draw cards for All Sorted.
In addition to Bizcash assisting with their cash flow problems, Brenda found that having a dedicated person to be able to contact with any issues and questions is very valuable and makes the process much simpler and smoother.
“The friendliness and approachable manner in which the whole business operates is divine and the turnaround time was quick.”
The ability to go onto the Bizcash platform and manage the invoices herself allowed Brenda to keep a close eye on her cash flow situation while having full control of what invoices had been claimed and which ones could be paid earlier. The easy to use system meant that Brenda and Dave were able to focus on what they do best, running their business, without having the unnecessary pressures of worrying about cash.
Bizcash strives to have a customer that uses the funds in a very positive manner such as continuing to grow their business and not to get the business out of trouble. All Sorted used the funding from Bizcash to solve their cash flow shortfalls so that they can continue to support the overall growth of the business.