Independent Production Company – Confidential Invoice Finance
Connected Pictures is a London based independent production company specialising in engaging video content for business, broadcast and multi-media platforms. They create cutting edge digital content for corporations across a wide spectrum of industries and many of their clients include large blue-chip companies such as British Airways, Dixons and SABMiller. Connected Pictures was created by partners Peter Penny, Adam Penny and Jon Ayres with the aim of making videos that make a difference and engage with the mind of their audiences.
The Challenge
One of the main challenges for Connected Pictures is that their large blue chip clients take between 90 to 120 days to settle invoices. Connected Pictures were looking to find a source of working capital to invest in new projects and fuel growth. They had already taken out an overdraft from their bank but this was not enough to solve their liquidity requirements. Connected Pictures did not want a third party factor to chase up their debtors as maintaining a good relationship with their clients was vital to their business. Nor did they want to offer large discounts to their debtors for early payment as this would mean giving away too much value of their order. They wanted to find a better solution and through talking to a fellow business owner they found out about a revolutionary new financing solution – MarketInvoice.
The Marketinvoice Solution
The MarketInvoice invoice auction model appealed to Connected Pictures as they could select which customer invoices they would raise finance on, and would only incur fees when they needed to use it (no annual service fees). The online auction calculator helped them visualise how much they would be paying through the competitive auction process. Helpfully, MarketInvoice’s auction platform could cater to some of their larger invoices as the invoice could be shared across multiple investors.
The flexibility MarketInvoice offers has allowed Connected Pictures to raise working capital on their terms while still maintaining a good relation with their debtors. Connected Pictures are now regular users and are regularly able to obtain instant cash of up to 85% of total invoice value, with fees as low as 1.25% of invoice value.
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