Our business supplies skilled transport drivers to trucking companies. We operate throughout the North Island of New Zealand, providing casual as well as permanent drivers – often at short notice. The customers we work with are big players with large scale freight and distribution needs, and as a result our scope of work can regularly fluctuate.
We have been in business for 11 years, and over that time, maintaining steady cash flow has been the key struggle for the business. In fact, as our business grew to supply other larger businesses, our cash flow deteriorated as opposed to getting better even though we were working with bigger contracts. With our workforce being primarily casual, our invoice terms are generally seven days, but this can vary.
We increasingly found that trying to push our invoices through our bigger customers was becoming more and more of a headache, and as a result spending excessive time chasing payments through various contacts and departments in order to meet our own obligations to our drivers. As we continued to struggle with cash flow, our accountant suggested invoice finance as a way to alleviate this and put us in touch with Apricity Finance.
Having an invoice finance facility has made a huge difference to our business (as well as our levels of stress), we have cash flow surety and a positive rating with the bank. Our business is now operating in a much more stable environment, and using an invoice finance facility is something we should have looked into years ago.
Apricity Finance has a simple and straightforward product, and since working with them we haven’t looked back. We have a really good relationship with the team and we have great support no matter who we speak to, at home in New Zealand or in Australia.
Director, NZ Transport Driver Business
If you would like to know more about how Apricity invoice finance is different from other facilities, please read here.