Knibbs Computer Services is a successful IT services company in the South-East. Since forming in 1998 the company has grown quickly. The IT industry moves fast, so businesses also have to move rapidly and stay up to date. Over time Knibbs Computer Services has grown into a full IT and communications managed services provider of Microsoft and related solutions, both on-site and in the cloud.
When founder and managing director, Tim Knibbs, decided to build on that growth and go after bigger clients he knew he needed to manage the inevitable strain on cash flow that success would bring.
“We were growing quickly and we needed a cash flow solution that would allow us to project that growth while keeping cash in the business,” explains Tim. “Growth brings cash flow challenges. As we take on more and larger contracts we have to tie up cash in procurement for our customers.”
Like many business people in this position, Tim looked at traditional banking and factoring solutions. “I found them inflexible and unwieldy,” says Tim. “I also didn’t like the all-or-nothing nature of factoring, the application process is hard work, and it’s expensive.”