ABOUT BENETEL LIMITEDBenetel Limited is based in Dublin, Ireland, and was founded in 2001 by a team of highly skilled engineers with extensive experience of base station design & deployment at major multinational companies who understood the growing importance of wireless connectivity. Benetel’s focus on Small Cells dates back to 2006, when it was among the first developers of 3G Femto cells. Benetel today develops leading edge hardware platform solutions for 4G/LTE eNodeB Small Cells. With a highly skilled team specialised in RF Design and Design Verification Testing (DVT) and over 15 years’ experience developing ultra-efficient and compact hardware powered by industry-leading chipsets, Benetel eNodeB solutions support increasingly challenging wireless applications in areas such as Public Protection and Disaster Relief and remote connectivity.
CHALLENGEThe company has a rapidly growing international client base of blue chip debtors. As a result, they require a flexible invoice finance solution to assist with this growth into international markets such as the USA and France. The current options available from mainstream banks did not meet their requirements so they approached Accelerated Payments to see if they could offer a workable solution.
BENEFITAccelerated Payments selective invoice payment solution empowers Benetel to access unrestricted capital at their convenience. By completing a simple registration process with Accelerated Payments Benetel obtained access to a large pool of capital with which to selectively receive early payment on their invoices against debtors such as Intel. In addition, they were able to receive funding in USD allowing them to minimise their foreign exchange risk. Benetel can now pre-screen debtors to know if they are of sufficient credit quality. As a result they know that once an invoice is raised and approved by the debtor they can receive funds within 24 hours allowing them to concentrate on the their business and not worry about their working capital requirements. Benetel intend to use the platform going forward to expand their operations across the globe.
“We can now take on new contracts with the comfort of knowing that our working capital requirements are being met by a reliable partner. The fact that Accelerated Payments can fund invoices in key export markets for us like the USA is a major advantage. The key aspect of the offering for us is the speed of deployment of funds and we were very happy with how quick and efficient the process was from start to finish”.