Amicus Commercial Finance has agreed an invoice discounting package with global logistics company DMS International.
DMS International is based out of three strategic locations, with two around the main London airports of Heathrow and Gatwick and another in Los Angeles. Its services include supply chain management, warehousing, fulfillment, distribution and global transportation.
DMS assignments have included the logistics for the artefacts of the Star Wars exhibition at the O2, London.
Having invested in state of the art customer portal tracking technology, DMS is set for strong growth over the coming years, which requires additional funding.
Nicola Judd, finance manager at DMS International, said: “We face a large and varied number of calls on our working capital.
“These range from seeking to fund an increased level of growth as the result of winning substantial new contracts, investing in cutting edge customer portal tracking technology, making advance payments to airlines and discharging HMRC duties which enables goods to be cleared through customs.
“The working capital injection and continuous funding that Amicus Commercial Finance provides enables us to drive the business forward.”
Amicus Commercial Finance is a specialist lender offering flexible invoice discounting to SMEs.
It was established by John Wilde, whose previous experience include roles as vice president in the securitisation markets for JP Morgan, having previously been divisional general manager for UCB Bank.
DMS has a direct link between its accounting software and the Amicus Intelligent Cashflow system.
Judd added: “We don't have to do anything differently. We post payments as we would normally and the system updates automatically.
“Plus we always have the option available of hitting the extract button, which brings our available cash position up to date instantly on demand. We always know our cash availability for the following day and exactly what is in our trust account.”
DMS says personal relationships have formed a key part of the relationship between the two businesses.
Judd said: “Rather than deal with our enquiry over the phone, Amicus Commercial Finance took the time to visit us to learn about our business and responded with a complete funding package that meets our needs.
“We never felt any pressure to sign up and have also found the service that we receive from Amicus is a lot more personal than you would receive from a traditional bank, where it is easy to feel that you could be swallowed up.
“We know we can speak to our account manager at any time in the knowledge that they will always come back to us quickly with the information we need.”