CleverTouch is Europe’s largest marketing automation consultancy, based in Alresford. It provides businesses with specialist consulting, training and mentoring, analytics and development of their marketing systems, making sure they get the best for their business. CleverTouch is unique in its ability to combine marketing understanding and technology appreciation to focus on the customer journey.
The firm is fortunate enough to have a number of high profile clients, including American Express, Legal & General, VMWare International and PayPal. Working with large organisations like these, means that payment terms can often be up to 60 days, leaving CleverTouch with a cashflow challenge.
Nick Burrell, Director of Operations and Co-Founder says:
"We face a significant challenge because whilst CleverTouch’s cost base remains static, our cashflow fluctuates massively. It is only by taking a structured approach to finance that CleverTouch can fund the resources necessary to deliver large scale projects whilst offering the payment terms which are prerequisite of working with large corporate clients.
“We have a great relationship with our bank but they can’t provide us working capital funding because we are a service provider. To solve this problem we use Platform Black to raise funds against single invoices. This service is completely flexible, and very fast. We just pay for the finance and there are no hidden fees. We can easily dip in and dip out as and when the need arises. For example this week we were able to raise £15,000 against a single invoice and receive the cash in our bank account in less than an hour."