CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Advanced System Attracts Heap & Partners to SFS Invoice Finance
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News

  • Asset finance up 16% in June
    New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase)… More


Advanced System Attracts Heap & Partners to SFS Invoice Finance PDF Print E-mail
Tuesday, 11 October 2016
Wirral-based company Heap & Partners has become the latest invoice finance customer of Siemens Financial Services Limited (SFS).

The company, which was established 150 years ago, manufactures and distributes fluid control equipment for customers in the chemical, water, oil and gas sectors.

Before becoming a customer of SFS, Heap had experience of several other invoice finance providers. The company had been with its existing financier for approximately two years and decided to see if a better deal was available from another provider.

By using invoice finance, when a company invoices their customer, up to 90% of the approved invoice total is immediately advanced by the finance provider, with the remaining 10% paid once their customer settles the balance. This provides the company with essential working capital so it can benefit from improved cash flow without having to wait for bills to be paid.

Diane Duffey, Financial Director, Heap & Partners explains: “We have used invoice finance for several years to ensure availability of working capital. In particular, we need to keep appropriate stock levels in order to be able to respond efficiently and effectively to our customer’s needs. Invoice finance means we always have the funds available to achieve this.

“We were undertaking a regular review of our finance providers to make sure that we were receiving the best rates when we were introduced to SFS’ invoice finance service. As well as the cost aspect, with our existing provider we were experiencing delays in notification of payments; a bill may have been settled but we sometimes wouldn’t receive confirmation in a timely manner. This created obvious difficulties for our customer relations.”

After an initial meeting, over a period of time, SFS met with Heap to understand its business, its goals and invoice finance requirements.

“As well as being offered a better price than our existing deal, the biggest attraction for us was the SFS system,” says Diane. “It’s intuitive, offers complete transparency and has cut down on the time we have to spend reconciling our accounts.” Drawdown of funds now only takes a matter of hours and SFS’ online system also gives the company real-time access to funding and payments.

“The service from the SFS team has also been impressive. We have two points of contact and they are both very responsive and knowledgeable. With some other providers you can be obliged to deal with several different people, but we really like having a dedicated team.”

Stephen McKeag, Head of Sales – North West, Invoice Finance Siemens Financial Services adds: “As Heap’s experience demonstrates, it is good practice for companies to regularly review their invoice finance providers and the service they are receiving. Although some business may be wary of changing providers, the change can be managed very smoothly and can result in saved time and money together with improved levels of support.”
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards


Tuesday 3 October - Guoman Tower Hotel, Central London

Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.

To book your place to attend, please contact Alison Lucas.


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197