Improving cash flow and enhancing productivity to scale growth
Fibrewave Installations is a fast-growing B2B network infrastructure provider to major telecommunications businesses. They are the principal contractor for Vodafone UK, providing end-to-end services from installation to managing networks and are growing rapidly.
Fibrewave’s explosive growth created an immediate cash flow challenge as they had to rapidly scale up their staff, offices and internal processes. They initially sought to fund this through their bank, but this funding was extremely expensive and complicated. Further, all of their invoices were created manually via PDFs, e-mails and Word documents, which were hard to trace and keep track of. These processes were time-consuming and stressful, which distracted them from their primary objective which is delivering on their customers’ requirements.
In November 2019, Fibrewave decided to start using Taulia, Vodafone’s provider of supplier management and financing solutions. Taulia was able to help Fibrewave address their cash flow challenges and automate their invoice processing. Fibrewave was onboarded in just minutes, enabling them to accelerate payments to inject much-needed cash back into their business and digitise their invoices in a standardised easy-to-manage way. Using Taulia, Fibrewave quickly alleviated both their cash flow challenges and invoice processing by implementing a user-friendly portal that gave them total control.
“I was nervous at the start because I had never used a platform like this before. I was shocked by how easy it was to get started and get comfortable with Taulia. It’s so easy to use, I can train my six-year-old daughter to use it. Whenever I want to request early payment, I can do so with a click of a button and within days, the money is already in my bank account. I don’t have to create my own invoices anymore, which was super time-consuming and a bit of a nightmare. It’s been a smooth process and our internal productivity has soared as a result of using the platform.” says Jon Allison, CEO, Fibrewave Installations.
Using Taulia’s platform, Jon can now create an invoice in seconds, as opposed to the twenty to thirty minutes it used to take. He has full visibility into his invoice approval status to check whether an invoice has been approved or is pending. On the cash flow front, Jon can now request early payment whenever he wants it, giving him quick access to cash to invest in Fibrewave’s growth rather than waiting ninety days for payment.
“I was shocked by how easy it was to get started and get comfortable with Taulia. It’s so easy to use, I can train my six-year-old daughter to use it.”