Name: Expose
Location: New South Wales
Industry: Pre-press and pre-media
“With Bibby we can better manage our own creditors and focus on delivering better outcomes for our customers."
A risk management strategy for growing business
Todd Hammond, Managing Director of Expose, a pre-press and pre-media business servicing leading printers, designers and ad agencies, is among a growing breed of entrepreneurs who are realising the benefits of factoring, also known as debtor finance and cash flow finance.
Todd sourced the help of Bibby Financial Services, Australia’s largest global non-bank provider of debtor finance, to help manage his business’ cash flow by releasing up to 85% of the company’s outstanding invoices within 24 hours when funds are required.
“I wanted to run our small family business while not exposing my family’s assets and income to risks inherent to any corporate venture,” Todd said. A factoring facility does not require personal real estate security unlike other traditional banking products.
Smoothing out cash flow fluctuations
“We work on jobs that need to be turned around extremely quickly and require significant upfront labour and material resources.
“It’s never guaranteed that our customers will pay within 30 days whereas we have no lee-way with paying our suppliers or meeting our GST obligations.
“With Bibby we can better manage our own creditors and focus on delivering better outcomes for our customers.
“As an extra bonus, by having immediate access to the cash value of our invoices we are in a better position to pay cheaper prices on supplies because we can pay cash almost immediately or on delivery - and that saving can be passed on to customers,” he said.
Increased efficiency and piece of mind
Todd was impressed with how Bibby approached Expose with a lateral perspective to find out what he needed and how we could achieve it.
“Our clients have accepted our outsourcing to Bibby positively and our suppliers think it is great because we service them quicker.
Through an ongoing relationship with Bibby Financial Services Todd can invest more time and energy into business processes and customer service and can relax knowing that his family home is not funding it.