The Convertibill® Webinar Programme got off to a flying start this week. Excellent insight into the running of services was provided by Convertibill® finance specialists Seamus Beirne and Jason Sheehy, alongside managing director Harry Parkinson. The engaging presentation threw up some insightful questions from the audience. The Questions and answers section at the end of the presentation gave viewers an excellent opportunity to engage with the team, and give some valuable feedback as well as ask some pressing questions relating to the services that Convertibill® provide.
Why Should I Tune In To This Webinar?
Whether you are a financial advisor, existing client or considering doing business with Convertibill®, this webinar programme provides you direct access to our team. The presentations themselves will cover core aspects of the business, and the opportunity to engage directly with the team on any topic means you will gain valuable insight into how Convertibill® services can be best utilised to suit your needs.
Overview : Week One
This week’s installment introduced Convertibill®, managing director Harry Parkinson joking that it is “Ireland’s best kept secret”. Harry, Seamus and Jason spoke briefly on their own backgrounds and credentials before joining the team. Addressing the financial advisors tuned in, Jason summarised the dynamic relationship between advisor, client and Convertibill®. “Your clients have a requirement. You, as the trusted advisor have the relationship and we have the resources. In my mind that is a match made in heaven”.
The opening segment set out clearly the goal to provide as smooth and straightforward as possible an experience to clients. Central to this is the investment in technology, to ensure a seamless process from application to first trade. Jason eluded to this as a core aspect of the business. “To make the process for you as the advisor, and more importantly your clients, as seamless and painless as possible”. What sets Convertibill® apart is that we engage directly with clients, and decisions are made on a case by case basis. Our mission is to provide flexible solutions to our client’s trade. We won’t leave you tied up in long, drawn out applications. A heavy investment in technology coupled with our flat structure allows for quick decisions, something banks and other lenders cannot offer.
Key Aspects Of Convertibill®
Finance specialist Seamus Beirne led the second segment, and quickly eluded to the emphasis on streamlining the application process. Seamus pointed to the heavy investment in technology as key to this. The ability to complete documentation electronically allows for quick decisions to be made. “If there’s something we can’t do, we will tell you without dragging it out. If there’s something we can do we’ll process it quickly and efficiently”.
Seamus divided Convertibill® services into three key headings:
1. Trade Finance
2. Asset Finance
3. Innovative Financing
Trade Finance : A core product, offering end to end solutions to a customers trade. Existing businesses use this facility to grow, where constraints around cash flow may hold them back. New businesses use this facility to kick start trade, where it may not be possible to get the capital elsewhere. “Endeavouring to help businesses convert their operations and sales into ongoing, steady and seamless cash flow, so they can continue to do what they do best – manage their business”.
Asset Finance : Allows clients to purchase assets that are repaid by installments using a lease or hire agreement. Specialised more so in financing heavy duty assets. Worked examples of this product were given, to demonstrate real life applications.
Innovative Financing : A conversation takes place to determine the following – Who are your customers? What type of cash flow pattern you have? Where can we help your business? Worked examples provided of Convertibill® branching into renewable energy and environmental funding. We pride ourselves on the flexible solutions we provide to clients, and will always try to create a plan that suits both parties, on a case by case basis.
Questions And Answers
The open forum segment concluding this week’s webinar proved extremely valuable. Many insightful questions were posed and the audience engaged well with Seamus, Jason and Harry. Some of the standout questions, along with the answers provided are listed below.
“Are there geographical limits to the trade Convertibill® will do?”
Answer : “There are no geographical limits. We look at the fundamentals in terms of the trade. The trade could be originated in Ireland, but the product may be going anywhere in the world, this could be Germany, South Africa, Kazakhstan or elsewhere. We are not confined by geographical constraints at all.”
“What sectors do you want to be involved in?”
Answer : “The only sector we are not currently involved in is property development and property financing, unless there is a peculiarity where we can provide a service. Every other sector that involves trading and trading businesses is where our orientation lies. Any business that is generating steady and identifiable cash flow patterns is the sort of business we like.”
“How long does a deal normally take?”
Answer : “We have a very flat structure, meaning we can make decisions very quickly. Once we get all the information, we would expect to have a decision within 48 hours. From start until first trade we would expect a period of about 2 weeks.”
Tune In Next Week
This is only the start of the Convertibill® Webinar programme. Each week we will run a new session, covering different aspects of the business and offering direct access to our team of finance specialists. Each session will run for approximately 30 minutes. Details of next week’s webinar are as follows. 4th June 2020 (11am) – Flexible Business: Sources of Funding for Your Clients. To join, simply follow the link provided. Join The Convertibill® Webinar