CASE STUDY: Business services
At a glance
16
50
£3m
MEET THE CLIENT
A new invoicing approach for a new type of recruitment company
Clearfield is a specialist ‘built environment’ recruitment firm, providing temporary, contract and permanent opportunities for candidates in a variety of roles, including project and site management, surveying and financial management, operational and commercial directors, planning, bidding and design. Clearfield’s clients range from family businesses through to multinational PLCs in construction, fit-out, civil engineering, public sector and specialist trade contractor sectors. The business uses innovative methods and designs bespoke resourcing solutions for each of its client’s unique needs.
THE CHALLENGE
When existing invoicing finance is no longer meeting the moment.
Discussing a major challenge at the heart of the entire recruitment industry, Dan Jarrold, Managing Director, said: “Invoice discounting has become widely recognised as an essential funding tool in the recruitment sector because it bridges the gap between payment lead times and weekly pay commitments. However, at a time when we could see significant opportunities to expand the business due to rising demand for our services, we were becoming increasingly frustrated by the inflexibility and service issues that we had experienced with our previous invoice finance provider. We were therefore looking for a supportive funder that would be with us for the long-term as we continue to drive our growth.”
“Working with the Investec Capital Solutions team is the best experience I have ever had of any invoice finance providers by far. We consider Investec part of our team, providing essential support as we need it.”
- Dan Jarrold, Managing Director, Clearfield
THE SOLUTION
Fast, flexible financing.
Clearfield met with Investec following a recommendation from the company’s finance advisors, who spoke highly of the team. Dan Jarrold commented: “What stood out, amongst the good service and personal touch, was the speed and ease with which the whole system operates, leaving us free to focus on running our business. One of the directors came to visit us personally during the initial discussions and made firm decisions there and then to create a £3m invoice discounting solution tailored specifically for our business.”
“The reasons for working with Investec were clear. Right from the outset, it was obvious we were dealing with an entrepreneurial team with the drive, skills and patience to get under the skin of our business.”
- Dan Jarrold, Managing Director, Clearfield
THE OUTCOME
A supportive financing relationship.
It’s become a long-standing relationship, with support available through challenging and more prosperous times. Dan Jarrold added: “The Investec team has always been on hand to help provide the right funding solutions to support our business. They were supportive and solutions-focused during the early phases of the Covid-19 pandemic that brought the construction industry to a standstill, regularly checking in with us and providing advice. Likewise, they were right there when the bounce happened to help Clearfield keep pace with re-growing client demand.”
“Their approach is highly practical and we have found that they are genuinely interested in finding ways of helping us to grow our business.”
- Dan Jarrold, Managing Director, Clearfield
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