Established in 2006, Highfield are an ambitious, rapidly growing business providing recruitment services across the UK and abroad. With steady year on year growth and over 150 contractors on their payroll, they needed to ensure that they were able to bridge the working capital gap between placements and pay outs, due to nature of the business.
This required them to find an alternate funding provider who could also provide the required credit cover in the case of potential losses.
Following multiple staff changes at their incumbent provider, Highfield were introduced to ABN AMRO Commercial Finance in 2015 to support their growing business ambitions.
The management team at Highfield were impressed by ABN AMRO’s flexible and strong relationship driven approach. Straight forward T&Cs and the appointment of a dedicated Relationship and Asset Manager with a good understanding of the business, provides Highfield with a reliable funding partner for growth.
To bridge the funding gap, an Invoice Finance solution supplies ongoing working capital and the provision of Bad Debt Protection safeguards Highfield against the consequences of late payment or potential lost debtors and them having to absorb that loss.
Highfield’s Finance Manager, Simon Vitsaides says:
“It’s really important for us to have that cover. Through the Client Portal we are able to monitor our credit limit requests and receive an instant decision on credit applications. The system is really good and easy to use, quick to respond with regular updates.”
The team recently won the South Coast Business Award for ‘Outstanding Contribution to The South Coast Region’, which highlights their commitment to developing their employees and investing in local talent.
With the workforce expected to double by 2020, they recently moved into larger premises and gave the new offices a full refurb, which would not have been possible without the available funding. The business has been rapidly expanding and with a reliable Receivables Finance solution, Highfield has the cashflow required to support each stage of business growth. And Bad Debt Protection provides added security and gives the team the peace of mind to keep moving the business forward.
Simon added, “We’ve been really happy with the service provided by ABN AMRO. From the beginning it seemed like the perfect partnership. The whole process has been smooth and they are very accommodating. We’re happy with the fees and have had no issues. We’d highly recommend ABN AMRO for any company that relies on cash – it’s a no brainer.”