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IODM LIMITED — Capital/Financing Update 2020
Aug 2, 2020
65131_rns_2020-08-02_d36d4eb5-6032-4055-83cd-2995b3fa33ab.pdf
Capital/Financing Update
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3 August 2020
Company Announcements Office Australian Securities Exchange Rialto Tower, 525 Collins Street, Melbourne, Vic, 3000
By Email
Dear Sir
IODM expands Accounts Receivable Offering with Grow Finance
Pursuant to the requirements of Listing Rules, please find attached announcement regarding IODM expansion of Account Receivable Offering for immediate release to the market.
This announcement has been authorised for release by the Board.
Yours sincerely,
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Petrina Halsall
Company Secretary
IODM Limited
For further information please contact
Tony Smith
IODM Limited
ABN : 28 102 747 133 ASX Code : IOD
Registered Address: Level 5, 22 Albert Road, South Melbourne, Vic, 3205 Contact Details: 03 8396 5890 Email: [email protected] Website: www.iodm.com.au
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IODM Limited
Media Release – IODM expands Accounts Receivable Offering with Grow Finance
3 August 2020 - Leading accounts receivable and operational efficiency solution IODM Limited (ASX: IOD) (“IODM” and “Company”) is pleased to announce that today it has launched an invoice funding capability to its platform.
Invoice funding is a line of credit offered against a business’ accounts receivable ledger, so a business can support its cash flow and the line of credit has the capability of growing as the business grows.
Using IODM’s Accounts Receivable platform allows both a business and funder to have in depth transparency over a company’s outstanding invoices that isn’t usually enjoyed by either.
IODM is now able to offer this service seamlessly through its platform with Grow Finance, a Sydney based multi-product non-bank SME financier.
IODM CEO Mark Reilly commented “We are very excited about this new offering as IODM has always been committed to helping businesses manage their cash flow to achieve the most optimum use of working capital and the ability to offer a straight though digital solution for our clients is very satisfying. Grow Finance is not only professional and well respected in this area but their attention to the automated technological needs of our clients made this a very easy process.
Grow Finance Director Greg Woszczalski commented “assisting businesses with releasing funds tied up in their account receivables is a key driver for Grow Finance. For all our invoice, trade and asset finance products, speed of delivery is a critical part of that process which is why we are very pleased to partner with IODM through Grow’s Invoice Finance product. IODM’s platform is leading edge which allows businesses to manage and fund their cash flow efficiently, a philosophy which is core at Grow Finance.”
For further information, please contact Anthony Smith at [email protected].
About IODM
IODM is an Australian leading accounts receivable solution that goes beyond chasing debt. Powered by technology, IODM streamlines the AR workflow to drive operational efficiencies and significantly improve cashflow. IODM offers a customisable application that seamlessly works with any accounting and ERP software package.
IODM Limited
ABN : 28 102 747 133 ASX Code : IOD
Registered Address: Level 5, 22 Albert Road, South Melbourne, Vic, 3205 Contact Details: 03 8396 5890 Email: [email protected] Website: www.iodm.com.au