Connected Analytics is a professional services business dedicated to helping organisations use information to gain insight and make better decisions. The independent data sourcing and integration service provider has grown from a startup in July 2013 to making the BRW Fast Starters 2015 list. Connected Analytics also provides model development and validation; automated reporting and business intelligence; decision systems and analytics governance; and advisory services.
Wanted the business to finance itself
When Connected Analytics came to APositive as a startup in 2013, it had a combination of PAYG, or permanent employees, and contractors. This meant there was a regular payroll commitment, but lumpy cash inflows. Plus, a mix of on-hire and project work meant some work was KPI, or result driven, therefore invoicing and customer payments were not in line with the business’ payroll and contractor commitments.
“ Relationships are as important to us as the product and APositive had a product we needed to help us grow our business. It offers us a relationship that we feel is genuinely interested and supportive of our business.”
Flexible payroll funding to help smooth out lumpy cash flows
To smooth out Connected Analytics cash flows, APositive provides access to finance so that the business can meet payroll and contractor payments as and when they are due. A flexible attitude to workforce finance allows for higher levels of funding during peak commitment and low invoicing times, such as during the Christmas period. “APositive provides functionality that allows us to finance invoices we issue to our clients, and to have complete flexibility over the amount we choose to finance,” says managing director Mike Jones. This selective invoice finance allows Connected Analytics to access up to 100% of the value of an invoice when it needs funding, but it also has the option to choose lower advance rates when its cash flow allows.
APositive tools help shape successful financial strategy
This workforce finance solution suits Connected Analytics because it has helped balance cash flow and growth aspirations. “We have grown from a start up in July 2013 to making the BRW Fast Starters 2015 list. Many factors have contributed to this success, not least the support from our client base. But managing our financials has been crucial, and the tools APositive have provided are core to our financial strategy,” says Mr Jones. “Relationships are as important to us as the product and APositive had a product we needed to help us grow our business. It offers us a relationship that we feel is genuinely interested and supportive of our business.”