As the only education consultancy service in the UK, Educate Staffing sources the top education professionals for work in private, primary, secondary and special education schools.
Having worked alongside a number of other finance providers over the years, Educate Staffing had never found its ideal partner or a solution that perfectly suited the requirements of the business. The wrong finance package, alongside ineffective credit control, ultimately impacted the working capital of the business. This led the company to seek an alternative provider to replace its current facility.
Having been introduced to Zodeq following a recommendation from a fellow business, the Zodeq team implemented a full-service invoice finance facility. This facility funds the weekly invoices raised by Educate Staffing to meet the working capital requirements for the day to day running of the business. Alongside invoice finance, our credit control experts take care of chasing for payment on their behalf.
As part of our endeavours to provide the most relevant service to clients, we also offered flexibility for our invoice finance facility over the summer months.
As a specialist in the education sector, Educate Staffing experienced issues with invoices raised in June and July; these invoices often remained outstanding until the middle or end of September (once schools returned). This issue had previously meant that invoices would become disapproved (as it was outstanding past the 90 days), leading to no working capital for Educate Staffing during those vital first few weeks of September.
As this was a significant pain point for the team at Educate Staffing, we brainstormed for ideas on how we could make our facility work better for the company. We came upon a solution that had never been suggested or thought of by previous providers; to extend our funding from 90 to 150 days. This ultimately allowed schools to return in September and bring their account up to date, without repercussions to our client.
Educate Staffing now have a straightforward finance facility that works smoothly on a week to week basis, allowing Manging Director, Stephanie Bateman, significantly more time to concentrate on growing the business.
We meet regularly with the Zodeq team to keep the facility under review and ensure we work closely together. Gareth, James and the whole team are great to deal with. I would have no hesitation in recommending Zodeq to other businesses looking for their ideal finance package.
Stephanie Bateman, Managing Director, Educate Staffing