Article 10 Group

Article 10 is a small group of marketing agencies, working in separate niche markets – yet serving the same clients.

Turnover recently doubled year on year, additional staff needed to be recruited, new office space acquired and IT systems needed to be enhanced. Management of cash became a daily headache for founder and director Lyndon Nicholson.

Nicholson first entered into a receivables finance arrangement in mid 2007 with a large, well known finance company. Cash was available when it was needed yet when the requirement was reduced there was no need to pay “interest” (unlike a traditional bank loan).

As the business grew, Nicholson became frustrated with lack of flexibility his provider offered. Every turn seemed to involve more paperwork, more audits and seemingly unnecessary delays. Article 10 were also chasing their own unpaid invoices which took up significant amounts of time. Nicholson set about finding a finance partner who would work with him and offer a simpler, more streamlined service. He found Gener8 Finance.

Gener8 have worked with Article 10 since early 2008.  Invoices are sent to Gener8 every few days and 80% of the value is sent back to them within 24 hours. The Gener8 team then chases the debtors and collects outstanding amounts directly. As soon as the cash is collected from Article 10’s customers the remaining 20% less Gener8’s fees is immediately forwarded on.

Nicholson is pleased with the move to Gener8 – he commented “The switch to Gener8 was quick and hassle free. They spent a morning with us understanding where we were at financially and where our plans for the year ahead would take us. A flexible facility that fits around the way we operate and allows us to grow was designed for us”. He continues “Like any company we have seasonal trends and business can be quite cyclical. The Gener8 team understands the way we do business and work hard to ensure that cash management is no longer a headache”.

His back end team agrees. Kat (senior project manager who issues all of Article 10’s invoices) has found the new way of working a breath of fresh air. No more hours chasing outstanding invoices – this is now all taken care of by Gener8. Kat certainly prefers Gener8 – Nicholson speculates that if other business owners chose Gener8 “their Kat would prefer it”.

Lyndon Nicholson has agreed to speak to anyone thinking of using a Gener8 facility to explain in more detail how it has helped his business. You can reach him on 0207 812 9020.

Article 10 Group
14 Southgate Road
London
N1 3LY

Tel: +44 0207 812 9020