What we love at TREIF is how easy it is. Using White Oak UK’s mobile & desktop apps means our representatives can give an indicative quote for a finance arrangement, refer the opportunity to White Oak UK to follow up.
Arthur Pynenburg, Managing Director, TREIF UK
TREIF UK makes food cutting machinery for companies specialising in meat, cheese and bread products and other niches. In late 2015 it started offering a financing option to let customers spread the cost of a purchase and ease pressure on working capital.
The move has made certain sales easier for TREIF in the UK, as well as enabling it to pick up service contracts on its cutting machines where it sells with finance attached.
For many business owners, questions around finance and ensuring a good flow of working capital loom large. Without just the right financing arrangements in place, the business would soon start to suffer.
This challenge is keenly felt in industries where occasional big investments in plant and machinery are a given, such as in food manufacture. It’s a niche where investments are necessary and commonplace, given the throughput of even smaller food businesses, and machinery investments are also informed by the need to keep pace with national and international competition.
Where there is a potential capital investment on the table, what’s the likely payback on this cost to the business because it is enabling a new revenue stream? And what pressure does it put on working capital without finance? (Is it even an option?)
The solution was for TREIF to join White Oak UK's Partner Programme. We created a vendor finance solution that was to implement and did not disrupt their existing sales processes.
Increasing business is made simple with the White Oak UK Partner App. The days of a Supplier having to call their finance consultant to generate quotes or even generating the quote themselves from templates and charts has passed. The faster your solution is delivered, the more likely you are to close your sale.
TREIF sells into a very particular market niche, so understanding the opportunities being pursued by the convenience food businesses it targets, and how to finance such opportunities, is essential.
“We started offering interested would-be customers financing using the White Oak UK Partner Programme,” says Arthur Pynenburg. “Before that, we did not have a partner in place to finance our equipment, so all our sales were made by companies paying out of their reserves or making their own financing arrangements.”
The transition to partnering with White Oak UK has been simple. In the year the service has been live for TREIF, Pynenburg says the company has certainly secured sales using financing that would otherwise have been lost.
“It’s also just a way of clarifying a company’s options, which helps to get a deal done."
We could not have been happier. Banks as usual were a nightmare - they took over six weeks to eventually refuse for vague reasons unexplained. White Oak UK were professional, helpful, friendly, and best of all, fast.