Invoice Finance Helps Printer Return Profitability

Downham Printing Services is now managing its business with the help and support of Ashley Commercial Finance.

Downham Printing Services is now managing its business with the help and support of Ashley Commercial Finance.

When a new investor entered the business it called in Ashley to help manage the company's finances.

Ashley assisted by managing Downham's cash flow and credit control function.

Debts are now collected faster and money is flowing in to the company, freeing up the directors time to grow the business, said Ashley.

According to Ashley, looking after the cash flow should be a priority for any business but for many small and medium-sized enterprises it is a struggle, especially when they need to get orders out of the door.

Downham Printing Services was no different, as the directors only took stock of their finances when time permitted and not at regular intervals.

As a result, credit management had got out of control.

Ashley provided an invoice finance facility that ensured Downham Printing Services received outstanding cash from its invoices immediately as well as managing the credit control function.

Downham director Jean Hardstaff said: "There was a real danger of our printing business going under but, with Ashley's help we have turned things around.

Ashley sorted out our cash flow difficulties and also helped us reclaim outstanding debts faster." She continued; "Ashley takes away the hassle of chasing our customers for payment.

We are paid most of our money up front and as soon as the debt is collected we receive the balance, less charges.

Ashley has helped get us out of a tight financial situation.

As a result, we have increased turnover and are profitable once again." Ashley Commercial Finance said it is an independent invoice factoring company, with no ties to banks or other financial institutions.

Ashley provides invoice finance for the small and medium-sized business community (including start ups and turn-arounds) across England and Wales.

The company has offices in Manchester, London and Bristol and has has 150 clients with turnovers between GBP50,000 and GBP1.5 million.

Ashley said that it provides continuing finance for a business at up to 90 per cent of the value of a client's sales ledger, which, coupled with credit control makes invoice finance an attractive option for a growing business and an alternative to an overdraft.

As the facility is based on a percentage of turnover, the funding available grows with the business.

Ashley added that funding can be in place for new clients to draw down within 24 hours of receiving sales invoices and at the lowest minimum fee.

On-line account access enables clients to obtain account information 24 hours-a-day.

Unlike other invoice finance companies, Ashley allows clients to choose which accounts they factor, thus avoiding paying unnecessary factoring fees.

In response to client demand, Ashley launched an asset finance facility in June 2005.

This is available for anything from computers, telephone systems and office equipment, through to company vehicles, yellow plant and machinery.

There is a 'step by step guide' to invoice finance and more information about the company, which this year celebrates 10 years in business, at the company's website.

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