Light bulb containing the globe depicting global growth factor

Case Study: AG Globe Services

“If we want to escalate our growth we can do that, because we will have the cash flow. This is a great funding model in good times and in bad.”

Scott Donoghue, CEO AG Globe Services.

About AG Globe Services

AG Globe Services, with HQ in Toronto, is a Recruitment Process Outsourcer (RPO) supporting many businesses with qualified people for multiple roles primarily within the IT and Healthcare sectors.

The Challenge

The Solution

  • Individual Invoice Finance from Accelerated Payments allows AG Globe to select the invoices they want to fund and when
  • All transactions are credit insured by the EDC (Export Development Canada) mitigating risk in case of default
  • Invoices in US$ are funded by Accelerated Payments within the US removing the need for any currency transfer with resulting FX savings
  • Individual Invoice Finance from Accelerated Payments has opened the door for significant growth as cashflow is no longer an issue
  • The funding solution has provided security to the business – knowing they have working capital available when it’s needed
  • There is no loss on currency transactions despite being in a different country to the client

AG Globe Services has a team of 15 talented people on this project, managing recruitment, compliance and onboarding for all functions needed, from security guards to respiratory therapists. Scott says likes many businesses he knows, his first port of call for funds was to go to the banks for a line of credit or to borrow money from private investors, but he never considered invoice financing or factoring before. “Even though you have to pay a fee, the ROI is so much higher – you have to pay a little bit to get a lot. We can go to the Bank but we wouldn’t get the funds we needed. And the great thing is since our invoices are quite large they give us more wiggle room for growth”, says Scott. “Accelerated Payments can also facilitate us trading in the US, so the money does not have to be transferred back and forth into different currencies. And the EDC protects 90% of the invoice value which gives us peace of mind if a company were to go bankrupt.”

Scott also values the partnership nature of the arrangement with Accelerated Payments. “We are partners in this process. Accelerated Payments are taking risks on our invoices, so communication both ways is really important. They are easy people to talk to, transparent and very supportive of our business. If we do want to escalate our growth, we can do that because we will have the cash flow. We wouldn’t be in this position without them”.

Click here to learn more about how Invoice Finance can help your business.

Benefits for AG Globe Services at a glance

English (United States)