In this blog series James Chetwood, Business Development Manager at Satago, will discuss how invoice finance can help specific sectors improve cashflow during lockdown and beyond.
To learn more about how Satago can help your business or your clients, you can get in touch with James today: James.firstname.lastname@example.org
Ready, set, erm.. Lockdown. The start of 2021 has certainly not been what we were all hoping for with the country now in its third edition of national measures to curb the spread of COVID-19. However, we want to reassure UK businesses that Satago is still fully open and looking to assist them with their cashflow requirements.
As part of that commitment, we will be running a series of sector-specific features illustrating and highlighting how Satago can help, beginning this month with manufacturing.
In an economic turndown, manufacturing can be one of the first sectors to be affected as customers cut back on their orders and look to push out payment terms in order to manage their own respective cashflows which can already be at 60, 90 or even 120 days.
There are an abundance of financing options for manufacturing but typically, invoice financing can release a large amount of cash that is tied up in those businesses’ unpaid invoices.
his can lead to numerous benefits for the manufacturer including:
1) Supplier discounts – by having cash available to pay their suppliers earlier, manufacturers can take advantage of supplier discounts rather than taking longer credit terms.
2) Take on new orders today – rather than having to wait for their invoices to be paid in order to fund the next order, by releasing the cash with invoice finance, manufacturers can accept that next order right away.
3) Secure new customers – by having better control over their cashflow, manufacturers will be able to offer their customers credit terms, a powerful tool for opening doors to new buyers.
At Satago, we take these potential benefits even further with our additional services, including automated credit control and risk insights modules, helping manufacturers keep on top of their outstanding invoices and minimising the threat of bad debts.
Furthermore, our selective invoice finance facilities are contract-free meaning they’re perfect for that additional flexibility manufacturers often require due to factors such as seasonality.
With no obligation to fund every debtor or invoice, businesses are able to pick and choose how and when to enhance their cashflow as per their individual requirements.
And with our fair and transparent pricing, business owners will always know exactly what they’ll pay with no nasty surprises.
If you would like more information on how Satago can boost your manufacturing business or your manufacturing clients, please don’t hesitate to get in touch with me today.
0161 513 0880