Case Study

Smart Car UK

  • Industry: Bodyshop
  • Product: Authorised Funding
  • Owner: Phil Merritt

Tell us about your company?

Originally operating as a mobile smart repair business, Smart Car UK has gone from strength to strength, and since 2019, we have operated out of our modern, custom-built premises in Swindon. Over the years, we have built up a good network of customers (both private and dealership). However, the pandemic was a wake-up call. When we were all told to stay home, cars were off the road, and work stopped coming in, but the bills didn’t. Thankfully, we managed to pivot and secure regular insurance work to keep the business running.

Why did you choose to work with ACG?

Through the additional repair jobs, we were taking on from insurance networks, bringing ACG on board just made perfect sense. We knew that ACG is an expert in their field, and unlike any other factoring company, they’re specialists in dealing with insurers and have a knowledgeable team who are on hand to support. Working with ACG meant that we weren’t stuck in the middle chasing repair invoices, and the money would be in the bank quickly.

How as ACG addressed challenges in your business?

Coming out of the pandemic, we’ve grown at an amazing rate. Taking on the additional insurer work has kept the lights on and the business going. However, bringing in ACG to support our invoice processing has meant that we’re not bound to the lengthy payment terms involved with insurance and network repairs, meaning our money is in the bank. Having ACG on our side has meant we’ve avoided taking out expensive loans and other debts to fund growth.

What features or aspects of ACG do you find most valuable and unique to your needs?

The impact ACG has had on our cash flow has been incredible! Cash flow is critical to a healthy business wanting to grow. You could be a multi-million-pound company operating in different countries but still have cash flow problems. However, in our case, our cash flow has never been in such a strong position, enabling us to run the business effectively and develop long-term strategies for growth.

How has it been working with ACG?

Working with ACG means that I’m not stressing about money. We do the job; we get paid in 24 hours. I know how much working capital we have as a business, giving me the opportunity to step back and see where I can invest in Smart Car UK’s future – if you’re not investing in your business, you’re stagnant.

Would you recommend working with ACG?

Absolutely! They’re a lifeline for us. They’re part of the team. We trust them with our money and to pay us quickly – oiling the wheels for success.

What advice would you give other companies considering working with them?

Don’t hesitate to start the conversation. Being the boss, I have to be cynical, look for a downside or a negative. However with ACG, there isn’t one. I wish I had done it sooner.

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