Case Study – Edgematics

Edgematics - Case Study - Customer Finance

Customer Finance Case Study: Edgematics

The Challenge

Headquartered in the UAE, with operations expanding across the UK, US, India, and Germany, Edgematics is a multinational All-in-Data company specializing in providing data monetization and services frameworks to support its clients through digital transformation and change management initiatives. As a small and midsize business in the space of Data, Artificial Intelligence, and Machine Learning, Edgematics is in expansion mode.

 

One of the biggest challenges Edgematics faced, especially during the COVID-19 pandemic, was the delay in payments from their customers. Invoices were not being paid on time resulting in delays in their projects’ completion which caused a strain on the company’s cash flow and operating budget and unnecessary stress in the day-to-day running of the business. They needed a short-term financing solution to cover the gaps in their working capital.

Edgematics - Case Study - Customer Finance 1

What Beehive did

Beehive worked with Edgematics to fully understand their business needs in order to generate positive cash flow. Beehive offered Customer Finance (CF), part of the Working Capital Finance suite of products, which directly connects businesses with investors willing to lend against the monetary inflow of invoices 

Icon Submit Documents

Edgematics sent their financial documents and invoices

Icon Review Document

Beehive reviewed application to give a decision in 48 hours

Icon Upload Document

Edgematics uploaded their invoices for investors to finance

Icon Funds released

Beehive transferred funds in 24-48 hours

The approval process for Edgematics was fast and easy. The company submitted the necessary financial and business documentation so Beehive could complete the full risk assessment. Edgematics then used Beehive’s online platform to upload multiple outstanding invoices that were due within 30-90 days. The company received the funds the same day after uploading the invoice before 11 am and could then use the cash to cover the gaps in their working capital. 

Result

Edgematics improved its cash flow against slow-paying customers, significantly improving the day-to-day running of business operations. The company was able to diversify its product offerings, creating more cost-effective offshore support and service centers for their customers. Edgematics found the system functionality of Beehive’s CF reporting very easy to use, and they particularly liked that it can be accessed online without any hassle.

“Beehive’s transparency, low-interest rate, and most importantly their engagement management extended by Mark are some of the reasons why we chose Beehive. We can rely on Beehive to solve funding challenges so we can focus more on the business. With that kind of experience, it was a no-brainer to make Beehive our strategic partner for our funding needs.” 

 

– Bharat Phadke, CEO, Edgematics