From the start, you made it a point to understand our industry and business needs. Your application process was very simple and your quick release of funds allowed us to finance the on-hire payroll. Most importantly, we no longer have to get angry at clients who pay late.
The staff at earlypay were very responsive to my requirements and problems. I liked that the account manager came out to see us despite our location to understand my business and ‘owned’ the problem. Although we are probably one of your smallest clients currently, I don't feel that way. I feel that I am getting an excellent level of service currently and that's why I would and have recommended you to other businesses.
We are glad to have earlypay as a trusted partner, over the years. Earlypay’s reasonable terms and value added services have allowed us to focus on other parts of our business and the expansion of services into other areas as well as a badly needed re-branding.
Earlypay has a very easy setup and there are no additional fees for insurance. Plus, excellent customer service! Earlypay is the perfect partner to help our business grow rapidly in the construction space.
We are specialist recruiters in the Industrial, Engineering & Supply Chain markets. We needed cash flow finance to survive late payments by clients and allow for business growth. We selected earlypay because of their simple application process, their desire to understand our business needs and ability to make funds available immediately, allowing our business to effectively grow and focus on our core services. We have no fear of growth now.
Homecare Australia is a 100% family-owned Australian provider of home care services for the elderly and disabled. We are a self-funded business with no debts and wanted to stay that way. As we worked with Government clients, we know that we will get paid but need to fund wages until payments were made. Earlypay was recommended by an Industry colleague and although we are one of their smallest clients, they made us feel important by listening to our business needs and providing us with an excellent level of customer service. I have and will always recommend earlypay to other businesses, as long as you keep doing what you are currently doing.
Our business focusses on Human resources and Workplace Health & Safety solutions and looked for cash flow finance to cope with the sporadic activities within our labour hire division. Earlypay has become a trusted partner over the years and they behave like an extension of our business when dealing with our customers. The reasonable terms, value added services and obviously the smooth cash flow has enabled us to focus on other parts of our business and the expansion of our services into other areas. It is very hard to put a dollar value on this partnership.
We work in the construction space and have experienced a 30% growth in 2013. With growth comes costs and we need a cashflow solution that provided credit insurance against debtors and an online solution that will enable my accounts team to reconcile balances. We selected Earlypay because their fees were simple and transparent, with no hidden costs and no additional fees for the insurance premium. They have exceeded our expectations in terms of their excellent customer service and easy setup, which has definitely played a part in our rapid growth in the construction space.
All businesses across Australia have their own unique challenges to overcome when it comes to securing a consistent cash flow. Whether it's due to the nature of the industry or client behaviour, sometimes things don't go smoothly.
That's where EarlyPay comes in, ensuring that any company wishing to secure a consistent and dependable cash flow has the assistance it needs to do so. The following is from a client of ours, Stephen, who runs a printing business.
After 20 years of dealing with other debtor finance companies, Stephen decided to give EarlyPay a chance - a relationship that has lasted for around six months and looks set to continue for the future.
So, how has EarlyPay enabled Stephen and his company to secure consistent cash flow?
Stephen's cash flow patterns are dependent on the nature of the business he is involved in. As the company sells direct to wholesalers, they are forced to wait for payment from organisations that are in the same boat.
"We're at the end of the cycle here," he said. Naturally, this greatly extends the time between offering a service and receiving payment.
"I would say in the industry we're in the average debt turns around in about 40 days," Stephen explained. "I think 30 days would be the absolute best you'd get it to." At the other end of the spectrum, there are times when late payments can put a strain on the business, especially if their clients are also held up.
With that in mind, what is the worst case scenario? "Probably 90 days plus or not getting paid, but then again that's really more a reflection of that individual business," Stephen said.
Stephen has extensive experience with other debtor finance companies, but he chose EarlyPay after comparing its services with that of a competitor. "They put a lot more effort into the whole process, the other company just sent us a quote and didn't follow up," said Stephen.
"They were obviously keen to do business and we like that, we were getting good service and that has been it for nearly six months now." However, Stephen says there's one key part of EarlyPay's service that makes the difference: certainty.
"With EarlyPay, every week it's happening within 24 hours - never an issue. Their service is first class, so I know with certainty when I put in the invoices that the money is going to be in the bank that night." Thanks to the way EarlyPay operates, Stephen and his team can spend more time growing the business instead of hunting down old invoices, a fact that he is keen to support.
"It's good that they're doing it for you, you don't have to worry about sending out statements and making the phone calls." Despite only being with the service for 6 months, Stephen is keen to see where the future takes the partnership.
"At this stage we're very happy with it... we're learning about them and they're learning about us, but I'd be more than happy to recommend them."
There's no need for businesses to struggle with cash flow. Thanks to debtor finance from EarlyPay, companies no longer have to be at the mercy of clients when it comes to getting paid on time.
Our clients can attest to our ability to create a business environment that thrives on confidence and certainty, ensuring they are never starved for financial support.
Take Mike for example. He runs a business that provides manpower solutions for firms that need a bit of extra security. Now into his second year with EarlyPay's services, Mike took time out to outline why we're the best option for the job.
As with most businesses, Mike needs to manage the demands of the industry he works in with what clients expect, creating a balancing act to ensure that everyone is paid on time. According to Mike, client-specific conditions can put businesses under the pump.
"Some clients can have a condition where they pay 60 days from the invoice or 90 days from the invoice and this is where it's a struggle for me to grow the business," he says. "We can't take any work because the conditions are hard to meet."
It's these requirements that lead people like Mike to contact EarlyPay, helping them to get ahead where they would normally be left to fend for themselves. "If you're going to have a client who will pay every 60 days, that's why we go to a funding facility to help out and grow the business."
Like all businesses, Mike's company has choice in where it goes for debtor finance. In their case it has led them to EarlyPay, but what started this relationship?
"What attracted me is the easy access to the funding," Mike explains. "The turnaround is less than 24 hours which makes it very easy from the moment I process my invoices to being verified and getting the cash. That makes my job a lot easier and, obviously, I can get more work based on that."
However, just because EarlyPay is a debtor finance company doesn't mean the relationship is all about money, and Mike cites customer service as a notable point of difference between us and the alternatives.
"I have to say the staff are just amazing, they support me unconditionally," Mike says. "Whenever I ring them, whenever I need something, they're one phone call away." Mike's experience with other services means he knows what makes a good debtor finance relationship tick.
"EarlyPay are different, they're supportive, understanding and they're with me all the way". As we mentioned earlier, Mike and his company are in the second year of their relationship with EarlyPay. So, after a year and eight months are they willing to recommend the service?
"I definitely would, the staff and the support for smaller businesses like mine is amazing," he says. "I would recommend it to any business if they want to grow, having that support behind them is just amazing."
If you want to experience the same level or service and support that's been keeping Mike happy for nearly two years, contact the team at EarlyPay to find out how they can help.