Our client is a company which specialises in shelving and office furniture. They fulfil purchase orders from government departments, state-owned enterprises, as well as private companies.
Cash flow constraints meant that our client was unable to fill purchase orders, which is what brought them to Sourcefin in the first place.
Being a young and small company, our client lacked an organised system for the reliable supply, manufacture, and delivery of their products. This impacted their ability to scale their growth.
When founder Victor first started the company, cash flow issues prevented him from getting any orders. In May of 2021, he found Sourcefin online and approached us for financial assistance with an order from a reputable SOE. What began as a bid for financial assistance with an initial order blossomed into a fruitful business relationship. This is what Victor had to say about his experience with Sourcefin:
Our client initially approached Sourcefin for financial assistance in filling a purchase order. Sourcefin went above and beyond, both supplying the capital required to resolve their cash flow issues and leveraging industry expertise and experience to implement a refined process management system to help scale the business.
Sourcefin supplied instant financing solutions to resolve cashflow challenges.
Sourcefin helped develop and deploy management systems to streamline supply, manufacture, invoicing, and delivery processes.
Sourcefin leveraged an extensive network of reliable suppliers, legal assistance, and accounting services to ensure success.
The value of purchase orders that our client can fulfil today – up from R150 000 when they started.
The amount of time it took our client to receive the funds that they needed.
The time it took for Sourcefin and our client to complete their first project together.
Our client now enjoys refined process management systems and a delivery schedule designed and implemented by Sourcefin.
By enlisting Sourcefin for financial assistance with a purchase order, our client has been able to establish consistent cash flow, allowing exponential expansion. Since 2021, our client has built a team of six employees and fulfilled six more successful purchase orders. With the initial capital supplied by Sourcefin, our client has been able to deliver over 2000 different units of office furniture.
They have also refined their process management systems with the insightful and collaborative guidance of Sourcefin, empowering them to scale their services with efficiency. In the words of their managing director, “The team is always available to me and my requests and are always assisting with a smile, they love what they do, and we have developed a strong relationship!”
“Working with Victor was a testament to the efficacy of our model,” says Sizwe. “Most purchase order financing solutions use an algorithm to select their clients. We take it a step further. We provide an essential human touch. We took a calculated chance on Victor, and it has resulted in a success story. By recognising the potential of Victor’s carpentry and business skills, we were able to grow Vicfhatu into a thriving business venture.”
Sourcefin is a finance specialist providing a comprehensive suite of services for delivering on purchase orders. This includes PO funding, sourcing goods from our network of suppliers, handling all logistics, and offering expert guidance to ensure the successful delivery of your requirements. Additionally, we provide invoice discounting services to help manage your cash flow efficiently.