running your business in the cloud: funding options
DESCRIPTION
Presentation by MD of Funding Options, Conrad Ford, at the 'Running your business in the cloud' event on 17th July at HUB Westminster.TRANSCRIPT
01/07/2013
Levelling the playing field
Small firms have to be generalists
Finance Director
Sales Director
Credit Controller
Operations Director
Company Secretary
The big guys
“All of the above”
The little guys
The top four challenges for small firms“Raising Finance”
Finance Director
“Finding Customers”
Sales Director
“Getting Paid”
Credit Controller
“Red Tape”
Company Secretary
How can I make sure I get paid?
How a professional credit controller thinks
?
“How quickly will they pay us?
Do they pay others quicker?”
“Do we really know who
actually owes us money?”
“How can we be quickly alerted if
they’re in trouble?”
“What’s the risk they fail? Could we survive it?”
The cloud enables tools that think & act like your own credit controller
Credit Controller
How to get the finance
I need?
How a professional finance director thinks
?
“What are the real costs? How do I get the best
rate?”
“What information do lenders really
need?”
“How should we present our
case?”
“What’s the right type of
finance?”
Finance falling fast, only question is whyQuarterly change in lending to SMEs
(6%)
(4%)
(2%)
0%
2%Mid 2011 to Mid 2012
“Not sustainable”
“Confidence issue”
“Banks not lending”
“Poor business
skills”?
You lot(!) don’t make banks’ lives easy
“Not even clear about how much
they want to borrow & what it is for”
“Lack of evidence of a
customer’s ability to repay loans”
More funding choice than you might think
Around 30 commercial mortgage providers
More than 30 asset finance providers
More than 50 invoice finance providers
• Comprehensive finance applications to formats agreed with a range of leading lenders.
• Help to find the right solution for a range of common finance needs, including growth, working capital or purchases.
Finance Director
…it’s already making waves
“Traditional bank funding was not suitable.. ‘Sales are up
thanks to the investment’”
“Makes multiple financing options easier”
“Quick, automated application & selection”
“Access to the right finance products & providers”
We’re about to use the full power of the cloud
The old world
Only your bank can lend to you
Unclear what lenders want
Time-consuming to provide financials
“All of the above”
The new world
Quick & simple
Get it right
Be in control