When Paul Rees decided to launch Acumen Care Services, a new recruitment agency, he knew that key to the business succeeding in a competitive space was the ability to attract passionate and competent staff through quick work-to-reward opportunities, whilst also offering his customers reasonable credit terms to pay their invoices.
In particular, he recognised that no care organisation wants to use agency staff, and that they only do so when they have an unexpected need, such as major sickness within their own team, or a sudden recruitment shortage. This means that agency staff need to be able to “hit the ground running” when slotting onto a care shift, and that recruitment and training of such skilled individuals was likely to be a slower process than simply employing anyone.
With that in mind, Paul sought a funding partner that could provide the right solution to help achieve this without causing cashflow issues that could put his business at risk. At Ultimate Finance, we know that a tailored and flexible funding facility paired with a dedicated service from an experienced Relationship Manager can make a real difference to the day-to-day financial management in a business.
After taking the time to understand what success looks like for Acumen Care Services, our team provided an Invoice Finance facility with a funding line of £400,000 to enable Paul to give staff a weekly payroll capability and offer his clients competitive invoice terms. Paul Rees says, “The facility comes with so much more than access to cashflow: we get live insight into our invoicing and credit availability position at all times with the easy-to-use online portal on top a dedicated team at the other end of the phone to assist and advise us as and when needed”.
With the facility in place, Acumen Care Services had all the tools it needed to keep moving towards success: “Ultimate Finance’s support and funding has enabled us to organically grow a £2m revenue company within four years. We could not have achieved this growth without their assistance with working capital. The partnership for us has been invaluable to allow us to concentrate on our business growth. At times when we have encountered accounts receivable delays, we have peace of mind that Indy and the team at Ultimate Finance will help us resolve the problem and support us until it is fixed”.
Indy Johal, Relationship Manager at Ultimate Finance explains, “There’s nothing more rewarding than seeing our clients succeed and achieve their ambitions – or even surpass them. We work hard to ensure Paul perceives us as a partner to his business: we provide so much more than the cash businesses need to keep moving – we regularly catch up with our clients over the phone or during our on-site visits and we’re always more than happy to help solve any of the issues their business is facing by thinking outside of the box”.
Having supported Paul and the team at Acumen Care Services for the past four years, we are proud to have become their funding partner of choice and to be able to be by their side as the business continues to grow for years to come. To find out more about how Invoice Finance can help with cashflow needs and keep business moving, click here.