Case Study: Standard Bank’s BizFlex Accelerates Alpha Secure Networks’ 500% Turnover Growth
Standard Bank’s innovative BizFlex solution provided Alpha Secure Networks with rapid, flexible funding, enabling the company to confidently fulfil new contracts and helping them to achieve an incredible 500% turnover growth in five years.
Challenges
- The ability to secure large contracts required Alpha Secure Networks to purchase expensive software licenses and computer hardware upfront, before receiving payment, which could take up to six months to be processed.
- These extended payment terms create significant strain for suppliers like Alpha Secure Networks, who must ensure upfront procurement before receiving payment, and so without adequate funding, these business owners may be forced to decline new opportunities.
- Accessing capital via traditional loans can take longer than the time-sensitive demands of supplying tenders.
Solutions
- As a long-standing Standard Bank client, the founder, Itumeleng Mohlahlo, was introduced to the unsecured BizFlex funding solution by his Relationship Manager in October 2020.
- The fully digital process provided fast access to finance, with funds secured and available within minutes.
- The unique pay-as-you-earn feature of BizFlex, where a selected percentage is automatically deducted from revenue earned, eliminates the stress of a fixed monthly debit order
- Alpha Secure Networks has since used the automated ‘top-up’ feature available to qualifying clients, which allows them to access additional BizFlex funds.
Outcomes
The flexible and immediate access to capital empowered Alpha Secure Networks to stabilise operations and pursue an aggressive expansion strategy, resulting in the following:
- Unlocking high-value deals: BizFlex enabled the delivery of major projects, including a recent contract with a large government agency.
- Improved stability: Ensuring the business could consistently meet its commitments and deliver on contracts without disruption.
- Exceptional turnover growth: The business has grown its annual turnover by an incredible 500% in five years.
- Future-proofing: This stable financial foundation has enabled Itumeleng to plan his next phase of growth, including developing proprietary software, exploring payment gateway systems, and building advanced Security Operations Centres (SOCs).
Interested in learning more?
- Click here to watch our Alpha Secure Networks case study video
- Click here to download the full written case study
- *Browse our BizFlex funding solution online
- Reach out to your Relationship Manager
- Or email us at [email protected] for more information.
*Ts&Cs apply.