- 15 March 2017 09:33
IODM taps into new customer base with strategic partnership
Automated debtor management platform today announced a new strategic partnership with Australia and New Zealand’s largest trade and debtor finance company, Scottish Pacific Business Finance. The deal will enable Scottish Pacific to white label IODM’s solution to its SME client base throughout Australia.
It will also enable Scottish Pacific’s range of working capital facilities to be made available to IODM’s customers via its accounts receivable management platform.
Scottish Pacific Business Finance is the largest specialist provider of working capital solutions for SMEs in Australia and New Zealand. With more than 1,700 clients, Scottish Pacific handles more than $14 billion of invoices each year, providing debtor and trade finance funding exceeding $1 billion.
According to IODM Managing Director Damian Arena, the partnership opens up a substantial opportunity for IODM.
“Partnering with Australasia’s largest independent cash flow finance provider is a significant development for our business,” Mr Arena said.
“Offering a white label solution to Scottish Pacific complements their offering beautifully by enabling clients to bring cash receipts through in a more timely fashion.
“Clients benefit from getting debtor days under control and accelerating their cash payments through IODM, then access working capital finance from Scottish Pacific Business Finance to flourish and succeed.
“Adding a trade and debtor finance capability onto IODM’s platform is another value-add for our clients with outstanding debtors who now have a suite of automated options to act including a pay now feature, access debtor finance or query the account,” he said.
Wayne Smith, Head of Debtor Finance at Scottish Pacific Business Finance said, “We’re pleased to join forces with IODM, an innovative technology provider that will add value to our clients seeking to enhance their debtor management practices.
“This partnership is a good fit for both companies; ultimately we’re both in the business of boosting turnover by improving cash flow for Australia’s hard-working SME community so they can invest and grow.