Under the helm of general manager Daniel Bourne, Roadwise Traffic Services was incorporated in October 2015. The Pakenham-based traffic management business is expected to triple by July 2016, with the help of APositive’s workforce finance solutions.
Needed more cash flow to put on the contractors it wanted and needed
As a start up, the traffic management business required contractors, but it was not able to take them on due to the cash flow requirements. “We were a start up business and APositive best suited our requirements – we needed immediate cash flow to allow us to expand quickly,” says Mr Bourne. As with most traffic control businesses – whether new or established – Roadwise Traffic Services required funding to meet the cash flow shortage created by customers not paying in time for when payroll needed to be met.
“If not for APositive I, myself, would still be working on the road as a traffic controller, and then doing the office work in the evening. Sales would be non-existent.”
Roadwise Traffic Services Pty Ltd
Invoice finance facility with a flexible funding limit, which will grow in line with sales
APositive gives Roadwise Traffic Services access to funding for its contractor payroll. That means it receives the cash it needs on time, every time, to pay its contractors. Financing the business' invoices on the same day they are raised is the key. "Without APositive we couldn’t have achieved the growth we’ve experienced. It was a lot more than we anticipated or expected." Through APositive’s additional credit management and credit checking service, Roadwise Traffic Services are made aware of any credit risks among existing customers. This gives peace of mind knowing the business is dealing only with customers who can afford to pay.
The business is ready to expand when opportunity presents
The best part of introducing APositive funding is that it grows in line with the business’ sales. This means, Mr Bourne and his team can continue to win business knowing they have the cash flow to do so. "If not for APositive I, myself, would still be working on the road as a traffic controller, and then doing the office work in the evening. Sales would be non-existent." He adds: APositive’s competitive fees and no lock in contract, mean the business can focus its cash flow on growing. "I’m a believer that it’s not how much you earn, but rather how much you save, that counts."