A Hertfordshire based transport company specialising in overnight deliveries has reported a 35% increase in its growth this year. The company is currently hiring over 100 staff and has a planned turnover of £2.5 million by the end of this year. This comes after they chose Hitachi Capital Invoice Finance as their Cashflow Finance provider. The Invoice Factoring facility that we offer ensures that Witts Transport has a flexible and strong cash flow at all times by releasing a large percentage of the money tied up in unpaid invoices.
As a result, they have the ability to expand at a rapid rate and with forecasts they will have doubled in size by the end of 2016. Simon Wallace, Managing Director of Witts explains:
“We’re an ambitious company aiming to reach £5million in turnover by the end of next year. Our partnership with Hitachi Capital Invoice Finance is one built on trust and has freed up a lot of valuable time allowing us to focus on important aspects of the business such as expanding our service offering.
“Witts is on the verge of celebrating a ten year anniversary and the company is going from strength to strength. The consultancy provided by our relationship managers at Hitachi Capital Invoice Finance is second to none and we look forward to the partnership continuing to help us prosper.”
Transport companies like Witts are often quite vulnerable to cash flow issues, particularly as a result of delays and high operational costs. This makes Invoice Factoring an extremely useful tool in this industry.