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Cashflow management becomes a paperless reality with Close Invoice Finance's IDeal
27th September 2007
Close Invoice Finance, one of the country's leading independent providers of invoice discounting, continues to shape the face of cashflow management with the market's first entirely web-based product..
IDeal is an Internet-based software system which has been designed to integrate securely with all available accounting packages to make paperless invoice discounting a reality.
Onorous paperwork such as the production of invoice listings, copy credit notes and monthly reconciliations are no longer required. The
system also reconciles on a daily rather than monthly basis, meaning that IDeal clients can see as much as a 15 per cent gain in available funds.
One company which has already jumped at the opportunity to change to IDeal is Surrey-based recruitment consultancy PL@N:IT. As one of the
UK's foremost IT recruiters, the firm has over 25 years' combined experience in providing clients with innovative solutions and IT professionals with roles that challenge them.
"We deliver and consistently exceed our clients' expectations and we expect the businesses we work with to do the same", says PL@N:IT director Mark Palfrey.
"Prior to using IDeal, our invoice discounting had been handled by an independent financier. However, their system was far less efficient than the one offered by Close Invoice Finance and required frequent audits, for which we were always charged.
"With IDeal, the entire process has been simplified and improved. It has reduced the workload of our financial controllers, minimising the time and money spent on internal audits. Importantly, it has increased our cashflow through daily reconciliations."
Close Invoice Finance chief executive David Thomson said: "IDeal is an innovative, market-leading product which has been specifically designed to take the hassle out of cashflow management. By removing the administrative burdens of paperwork and manual reconciliations, it allows people to get on with the business of making their organisations profitable.
"Notably, IDeal can even be run on a completely confidential basis. Customers of companies using the product can be completely unaware of the funding arrangements in place."
Any business using an accountancy software package and having UK sales of at least £200k per year can take advantage of IDeal.
Article featured in ABFA Corporate UK.
