Invoice Finance. Supporting business. Supporting growth. Call us Click on

Transcription

1 Invoice Finance Supporting business. Supporting growth. Call us Click on

2 Contents 01 Invoice Finance Why Invoice Finance? Easy to operate How Invoice Finance works 04 Online Client Manager system Is Invoice Finance suitable for you? How much does Invoice Finance cost? 06 Our approach 08 Invoice Finance for exporters 09 Meet the Invoice Finance Senior Team 10 Meet the Business Development Team 10 Meet the Client Relations Management Team AIB Commercial Finance Invoice Finance 2

3 Invoice Finance. Supporting business. Supporting growth. Managing working capital is always a significant business challenge. The Invoice collection cycle can put pressure on cash flows and can ultimately impact on your business s ability to grow. For over twenty years AIB Commercial Finance Limited has provided our clients with a convenient and cost effective cash flow solution, providing access to finance when it is needed most. Invoice Finance can help maximise the cash flow embedded in your business. Invoice Finance is a totally confidential facility, giving you the freedom and financial flexibility to manage and grow your business. As an AIB customer, simply notify us via our online system when you raise new invoices and we will release funds promptly to you on the same day. Our team of Invoice Finance specialists are passionate about supporting our customers. We will work in partnership with you to help you realise your business s potential. We are committed to supporting your business, and supporting your growth. We can help your business overcome cash flow pressure by giving you immediate access of up to 85% of the value of your invoices. Call us Click on 1

4 Why Invoice Finance? Invoice Finance is designed to help smooth your cashflow Flexible finance which can grow in line with growth in sales Converts your trade debts, both export and domestic, into cash Enables expansion of your business Can typically release more funds than other sources of finance A confidential form of financing, while you retain full credit control Provides potential access to bulk and settlement discounts from suppliers Allows you to promptly pay suppliers thus improving your company s payment reputation Allows you to extend longer credit terms to your customers, making you more competitive Simple, easy to use online system Funds can be made available on same day. Easy to operate Invoice as normal Simply invoice your customers for goods sold or services provided as usual Notify sales raised Advise AIB of the level of invoices raised in any given day, week, month, or as often as you like, via a secure, easy to use, internet site. Request funds You can then request advance payments against these invoices, up to an agreed percentage of your sales invoices (called a prepayment rate ), via our internet site. Retain control You choose when and how much you drawdown, controlling the availability and cost of your facility. You also retain full control of your debtor collections process. Debtors repay facility Your debtors settle payment of their invoices into an AIB Commercial Finance Trust Bank account in your name, ensuring the confidentiality of the process. AIB Commercial Finance will repay these funds to you less any advance prepayment you may have taken. We can provide a source of finance which is directly related to the performance of your business. It grows in line with your business growth Deirdre Moore Head of AIB Commercial Finance Limited While Invoice Finance is primarily a working capital facility, it may also be used to help fund transactions such as mergers, acquisitions, management buy-outs, management buy-ins and capital expenditure programmes. AIB Commercial Finance Invoice Finance 2

5 How Invoice Finance works Step 1 Invoice your customers as usual You Your Debtor Step 2 Electronically notify AIB of the invoices raised Day 1 You AIB Payment usually released providing notice received before 11am Monday to Friday. Step 3 AIB provide up to 85% of the value of your invoices AIB Up to 85% of invoice value You Step 4 Your debtor pays 100% of the invoices on the due date* Step 5 Your Debtor 100% of invoice value AIB pays you the remaining value of the invoices net of charges. AIB Up to day 90 Your debtors usual invoice payment date. AIB Remaining invoice value minus charges You * Your debtor pays into a confidential AIB Commercial Finance Trust Bank account in your name. Customer Example Total Debtors 1,000,000 Disapproved Debts**: 100,000 Prepayment Rate: up to 85% of Approved Debts. Therefore, the level of cash funding that may be made available through Invoice Finance will be: Level of Cash Funding 000s Total Debtors 1,000 Less: Disapproved Debts ** (100) Approved Debts 900 Available 85% of Approved Debts 765 ** Disapproved debts can include aged debts beyond a specified time limit, inter company debts, disputed debts, contra balances where you are selling to your suppliers and cash sales. Call us Click on 3

6 Online Client Manager system. Our online Client Manager system is available when you are, wherever you are, allowing you to stay in complete control of your business cashflow. Using a real time system you can make cash available to your business as soon as you raise invoices to your clients. Simply log in and advise us of the level of invoices raised in any given day, week, month or as often as you like. As soon as you assign invoices, funding is available to your business. You can also use the online system to request cash advances, and all requests received before 11am, Monday to Friday, will be processed with funds in your bank account the same day. You can relax safe in the knowledge that no matter where you are in the world, you can log on to our easy to navigate, secure online system to keep cash flowing to your business. The Client Manager system is perfect 10 out of 10! Use Client Manager to: Notify AIB of invoices or credit notes raised Request cash advances Customer feedback from AIB Customer Survey of Client Manager, 2012 Is Invoice Finance suitable for you? Do you sell business to business in export or domestic markets? Do you sell on credit? Do you sell fully delivered products or services? Do you have an annual turnover in excess of 750,000? Do you have an ongoing trade debtors ledger of minimum 250,000? If the answer is yes to the above please contact the Invoice Finance team on (See pages 9 and 10 for further contact details). How much does Invoice Finance cost? There are two elements to our fee structure: Discount Charge (similar to an interest rate) is levied only on funds used by you and charged monthly. This rate is generally expressed as a percentage margin over the cost of funds* for Euro funding or an alternative base rate for other currency funding A Service Fee (related to the ongoing management of the facility) is charged monthly to your account. * Note: the cost of funds is open to change and may fluctuate. See up to date sales ledger information Obtain reports. AIB Commercial Finance Invoice Finance 4

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8 Our approach. We have been supporting our customers for 20 years, offering expertise and superior client service in the provision of Invoice Finance. We will work closely with you at every stage of our relationship, from the initial meeting with your AIB Commercial Finance Business Development Manager, through to your ongoing interaction with your client relationship team of specialists. We support a wide range of businesses selling into both the domestic and export markets, from small owner-managed firms to large domestic and multinational corporates, including but not limited to the following sectors: Wholesale & Distribution Recruitment Agencies Transport Security Services Food & Drinks Industries Cleaning Services Manufacturing Other Service Industries. The biggest accolade that I can offer is that after twenty years of association with AIB Commercial Finance Limited, the quality of the service and customer care provided is still of the highest calibre despite the volatile economic trading conditions David Murphy Chief Financial Officer Barry & Fitzwilliam Whatever your industry, we know every business is different, and every customer has their own individual business needs, we will work with you to ensure Invoice Finance meets your specific business requirements. AIB Commercial Finance Invoice Finance 6

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10 Invoice Finance for exporters. A healthy cash flow can make a major financial difference to any business. Access to finance for businesses operating in the export market is a critical component for success and we actively look to support our clients growth both within the domestic and exports markets. Invoice Finance can form part of a working capital funding package for exporting companies and can operate alongside Trade Finance and Letters of Credit facilities. As businesses enter markets outside of Ireland they need to ensure that cashflow is not adversely impacted. That is where Invoice Finance can help. Our online platform can easily accommodate invoices raised in currencies such as Sterling and US Dollars alongside Euro trade debts. Receipts from debtors and funds available to you are seamlessly handled by the Client Manager system. AIB Commercial Finance assisted us greatly when we decided to expand into export territories, as they provided Invoice Finance on our export debtors in addition to existing finance on our domestic debtors. We found that export debtor invoices are funded as seamlessly as those within Ireland and we continue to retain full control of all our debtors both domestic and export Rita Shah Managing Director Shabra Plastics and Recycling Limited AIB Commercial Finance Invoice Finance 8

11 Meet the Invoice Finance Senior Team. Deirdre Moore Head of AIB Commercial Finance Limited Deirdre Moore is the Head of AIB Commercial Finance Limited. Deirdre, a graduate from University College Dublin, has 26 years extensive banking experience with AIB Group, working in a number of different roles in Capital Markets/Corporate Banking. In Corporate Banking Ireland, Deirdre worked as a senior relationship manager across a number of sectors, including retail, hotels and leisure, insurance/financial services and international Corporate Banking. Deirdre took on the role of Head of Commercial Finance Limited in July Contact Deirdre deirdre.a.moore@aib.ie Tel Mobile David Avery Head of Business Development, AIB Commercial Finance Limited David joined AIB from Lloyds where he helped establish their Commercial Finance Ireland division. David has 20 years Invoice Finance experience working initially for Lloyds UK Commercial Finance and Bank of Scotland in the UK. David is the Head of Business Development and manages an innovative and experienced team providing bespoke Invoice Funding solutions to a vast range of businesses. Contact David: david.g.avery@aib.ie Tel Mobile John Kearney Head of Client Relations, AIB Commercial Finance Limited John has 24 years banking experience with AIB Group and is a graduate of Dublin City University. He has worked in a number of different areas within AIB including Retail, Corporate and Business Banking. John joined AIB Commercial Finance Limited in 2005 where he headed up the Client Support Team gaining considerable experience in both risk and client management. John manages a dedicated team responsible for the customer relationship experience. Contact John: john.p.kearney@aib.ie Tel Mobile Cliff Glover Head of Risk and Operations, AIB Commercial Finance Limited Cliff has worked in Financial Services for 17 years starting off his career in an accountancy practice in Dublin. After gaining valuable experience there Cliff moved to Marsh as a manager with responsibility for a portfolio of subsidiaries of large multinational companies. Before taking up his current position he worked for 10 years with Anglo/IBRC where he headed up their Commercial Finance division gaining considerable experience in servicing SMEs and larger corporate entities. Contact Cliff: cliff.j.glover@aib.ie Tel Mobile Call us Click on 9

12 Meet the Commercial Finance Team. Business Development Team Helen O Callaghan Senior Business Development Manager Location Dublin helen.m.o callaghan@aib.ie Tel Mobile Client Relations Management Team Alan Ryan Senior Relationship Manager alan.p.ryan@aib.ie Tel Mobile Maeve Cotter Business Development Manager Location Cork maeve.s.cotter@aib.ie Tel Mobile Susan Merrigan Senior Relationship Manager susan.e.merrigan@aib.ie Tel Mobile Deirdre Morrissey Business Development Manager Location Kilkenny deirdre.m.morrissey@aib.ie Tel Mobile Anita Kelly Senior Relationship Manager anita.r.kelly@aib.ie Tel Mobile Diarmuid O Sullivan Business Development Manager Location Dublin diarmuid.p.o sullivan@aib.ie Tel Mobile AIB Commercial Finance Invoice Finance 10

13 Contact your Invoice Finance Team. Please note that the provision of this product or service does not require licensing, authorisation or registration with the Central Bank of Ireland and, as a result, it is not covered by the Central Bank s requirements designed to protect consumers or by a statutory compensation scheme. AIB Commercial Finance Limited is a member of the Asset Based Finance Association (ABFA) and is committed to operating in accordance with the ABFA Code, Professional Standards & Complaints. This code is available at Invoice Finance is provided through AIB s wholly owned subsidiary, AIB Commercial Finance Limited (AIB). AIB Commercial Finance Limited is a company within the AIB Group. Allied Irish Banks, AIB and AIB Group are registered business names of Allied Irish Banks p.l.c. Registered Office: Bankcentre, Ballsbridge, Dublin 4. Tel: ; Registered in Ireland: Registered No Call us Click on 11

14 Notes. What to remember and what to do next... AIB Commercial Finance Invoice Finance 12

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16 How to get in touch Call us us Click on If you have any questions, just ask. AIBM/IF2 04/14 AIB500G00001IF2