The nature of the recruitment sector means that businesses operating within it require a high volume of payment processes, delivered quickly and accurately. “We were already familiar with using an electronic system to manage our accounts,” says Matthew Hart, Finance Director at Rullion. “So when we refinanced to HSBC and transferred our transactional banking, it was important to at least replicate that if not increase its efficiency.”
Key to the decision to refinance the business and the drive to go out to tender, was Rullion’s growth ambitions. “HSBC came in with a compelling offer, which was really too good to refuse. We were also happy that they would be able to support our growth ambitions, particularly internationally,” says Matthew.
Alongside the refinance, Matthew was also looking for transactional banking solutions to support the company’s growth agenda – including invoice discounting and a cards programme to optimise the firm’s working capital. “We also wanted high visibility of our cash management and the ability to increase security as the business grows,” says Matthew.
“HSBCnet offered us the complete package,” says Matthew. “Our business consists of different legal entities aligned to the sectors we operate in and HSBCnet provides a consolidated view across all the companies that make up the Rullion Group, which makes it easy to monitor accounts.”
HSBC’s deep understanding of the recruitment sector was important in delivering the support Rullion needed, explains Barkhad Mire, Senior Cash Management Consultant at HSBC. “That sector experience gave us a head start when it came to discussing exactly what Rullion needed from a cash management solution,” he says. “Liquidity was obviously important, especially with the growth plans in scope, but so too was visibility and efficiency. That consultancy approach has proved crucial as we deepened the relationship with Rullion.”
Integrating Rullion’s files with ERP directly into HSBCnet also provided benefits, says Matthew. “Creating a format for our Faster Payments meant that upload was easier and more efficient. Additional automation plays into further operational efficiencies and helps us enhance the experience of our own clients.”
That element of visibility and control extends across the company’s Invoice Discounting facility, with HSBC providing a weekly view of the company’s position as well as a rolling picture. “It provides us with all the metrics we need to monitor that facility,” says Matthew.