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Managing cash flows can be a real challenge for IT bosses like Mr Hensley Chua of Etienne IT Solutions (not our client’s real name).
Often client projects are delayed by months due to changes in technology, specifications or scope. Due to the numerous moving parts and complexities of the IT business, many of these issues are difficult to foresee from the beginning.
When project delays occur, client payments are usually delayed too. However, the company’s own staff, contractors and suppliers will still need to be paid.
What should the boss of such a company do then?
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An Integrated Regional IT Solutions Provider
Headed by its Managing Director Mr Hensley Chua, Etienne IT Solutions has been in business for over 9 years.
Serving customers across the region – from Singapore, Malaysia, Indonesia, China and Brunei, to Bangladesh, Vietnam and Philippines – Etienne IT Solutions generates close to S$4.5 million in annual revenue.
Employing over 50 staff from across the region, Etienne provides a complete suite of IT solutions for businesses. Its services range from cloud computing, business intelligence, Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) and other IT solutions.
Two Day Approval for Short Term Loan
Faced with upcoming deadlines and a tight cash flow situation, Mr Chua approached Gremio Capital for help one day.
A financially savvy executive with a basic degree in accounting, Mr Chua knew that short-term business loans could help his company to meet its transient year-end working capital crunch.
Within two working days, Gremio Capital approved a loan of S$150,000 for a 6 month period to Etienne IT Solutions.
That injection of funds helped Mr Chua to hire much-needed staff to complete the year-end projects and to overcome short-term operational costs. By allowing Etienne to complete its projects on time, the loan helped the company to gain the trust and loyalty of its customers.
“Cash flows are vitally important to our company. They ensure that our Company can deliver on the awarded projects and build a long-term relationship with our customers. Plain financing approved within days, no upfront cost, and no extra fees – that’s what I like about Gremio Capital.”
- Hensley Chua, Managing Director of Etienne IT Solutions
Information posted is based on actual case. Client’s identity, person’s image and references were changed to maintain confidentiality. |