JasonL has been providing full service office fit-outs since 2009, with showrooms in Sydney and Melbourne. As a young, ambitious business, the directors needed growth capital that would increase their buying power.
In addition, dealing with suppliers overseas meant that they needed to streamline their international transaction capability, looking to improve foreign exchange rates.
In 2011, Octet partnered with JasonL to offer the business an unsecured Trade Finance facility. This solution meant that JasonL’s directors wouldn’t need to tie assets to their facility. It has helped support the business’ 30% growth rate year on year, with flexibility that allows their funding to grow along with them.
The Trade Finance arrangement with Octet ensures JasonL’s suppliers are paid promptly, which in turn unlocks early settlement discounts and enables early shipment of goods. The faster arrival goods upon order means JasonL can start an office fit out within a shorter turnaround time. Meanwhile, the business can make the most of 120 days’ credit to place more and larger orders, chase new deals and fund growth. This creates a win-win situation where the needs and expectations of all parties are exceeded.
Whilst initially Octet’s financial backing was the key driver behind the partnership, over time the relationship has deepened to include support of their entire supply chain.
Using Octet’s digital wallet to manage international payments makes the process much more efficient, transparent and secure. Transactions are able to take place far quicker through the platform and, when combined with Octet’s customer support, the directors report an improvement to their timeline of four weeks as a minimum. All this has fostered closer relationships between the business and their suppliers, as well as improved customer relations with faster turnarounds enabled for JasonL services.
Additional benefits of partnering with Octet include highly competitive foreign exchange rates, the ability to pay with credit cards to earn valuable points and access to Qantas Business Rewards opportunities through transactions made using the digital platform.
All in all, the partnership continues to be of greater and greater value to JasonL over time, allowing them to maintain their impressive growth trajectory and strengthen their business relationships.
“We want to have showrooms in each major city and be the go-to office furniture supplier. Octet is a partner for the journey of our business life. It’s definitely an ace up our sleeve, whenever we need it. As the business grows I have no doubt we’ll have Octet there.” – Marc Levin, Co-founder and CFO