IODM taps into new customer base

ASX Release

10 March 2017

IODM taps into new customer base with strategic partnership

  • Deal with largest national debtor and trade finance firm to white label IODM solution
  • Partnership to boost IODM revenue
  • Debtor finance capability to integrate into IODM’s debtor management platform

IODM Ltd (ASX: IOD; “IODM” or “the Company”) today announced a new strategic partnership with Australia and New Zealand’s largest trade and debtor finance company, Scottish Pacific Business Finance.

The deal will enable Scottish Pacific to white label IODM’s solution to its SME client base throughout Australia. It will also enable Scottish Pacific’s range of working capital facilities to be made available to IODM’s customers via its accounts receivable management platform.

Scottish Pacific Business Finance is the largest specialist provider of working capital solutions for SMEs in Australia and New Zealand. With more than 1,700 clients, Scottish Pacific handles more than $14 billion of invoices each year, providing debtor and trade finance funding exceeding $1 billion.

According to IODM Managing Director Damian Arena, the partnership opens up a substantial opportunity for IODM.

“Partnering with Australasia’s largest independent cash flow finance provider is a significant development for our business,” Mr Arena said. “Offering a white label solution to Scottish Pacific complements their offering beautifully by enabling clients to bring cash receipts through in a more timely fashion.

“Clients benefit from getting debtor days under control and accelerating their cash payments through IODM, then access working capital finance from Scottish Pacific Business Finance to flourish and succeed.

“Adding a trade and debtor finance capability onto IODM’s platform is another value-add for our clients with outstanding debtors who now have a suite of automated options to act including a pay now feature, access debtor finance or query the account,” he said.

Wayne Smith, Head of Debtor Finance at Scottish Pacific Business Finance said, “We’re pleased to join forces with IODM, an innovative technology provider that will add value to our clients seeking to enhance their debtor management practices.

“This partnership is a good fit for both companies; ultimately we’re both in the business of boosting turnover by improving cash flow for Australia’s hard-working SME community so they can invest and grow.

–Ends–

Investor inquiries:
Damian Arena
Managing Director, IODM
0419 106 176
damian@iodm.com.au

Media inquiries:
Sally Locke
Amplify Communications
0413 584 323
sally@amplifycomms.com.au

About IODM

IODM is a debtor management platform that automates the cash collection cycle, driving major process efficiencies, improved cash flow, and less risk. IODM has a host of features including invoice grouping, query account, pay now, credit checks, dashboards, and analytics – all on the one platform. Flexible and scalable, IODM easily integrates with virtually any accounting system. Headquartered in Melbourne, IODM partners include PWC, NAB and SV Partners. Clients include BDO, Wilson Security and RSM.

About Scottish Pacific Business Finance

Scottish Pacific Business Finance is part of the Scottish Pacific Group (ASX:SCO) and is the largest specialist provider of working capital solutions for SMEs in Australia and New Zealand. More than 1700 clients in industries including transport, manufacturing, wholesale, import, labour hire and printing benefit from their broad range of trade and debtor finance solutions. Scottish Pacific handles more than $14 billion of invoices each year, providing debtor and trade finance funding exceeding $1 billion. Established in 1988, the business has full service bases in Sydney, Melbourne, Perth, Brisbane, Adelaide, Auckland, London and China. Scottish Pacific was awarded 2016, 2015 and 2014 Best Cash Flow Lender in The Adviser’s annual Non-Bank Lending Awards, and named Best Trade Finance Provider 2015 at the international Trade Finance Global Excellence Awards.
scottishpacific.com

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