Making the switch saved Energy Technologies

In the competitive and ever-changing landscape of the power industry, maintaining consistent cash flow is vital for success — especially when navigating periods of growth or unexpected challenges. For Energy Technologies, a leading Australian manufacturer specialising in innovative wires and cables, this need became increasingly urgent as they expanded into the booming renewable energy market.

That’s where Earlypay stepped in.

“Earlypay basically saved the company” says non-executive director of power industry company Energy Technologies, Tony Smith. 

“Without them, Energy Technologies would've been in a lot of trouble.” 

Local manufacturers of a range of power industry products although specialising in innovative wires and cables, the company tapped into the renewable energy boom but needed to ensure they had the necessary cash flow to expand. 

According to Smith, the company had already utilised invoice financing but Earlypay took the service to a new level and “we found it really easy to deal with them”.  

The big switch from the old provider occurred around four years ago says Smith and it was a seamless process. 

“We basically closed off with one provider one night and started up with Earlypay the next day,” Smith says.  

“What also set them apart is they didn't just look at a spreadsheet but developed a strong understanding of our business and were willing to work with us as a partner as opposed to a lender. 

“Furthermore, their due diligence is very robust and they’ve kind of acted like an unofficial advisor as the company has expanded.” 

And as the company has grown, consistent cash flow became more vital as suppliers and employees need to be paid as the order book grows larger. 

Smith said as sales grew, the company needed to really increase working capital and Earlypay’s invoice financing facility allowed them to essentially fund the business. 

“This was not only important as sales grew but also when things contracted during Covid. We had to change the business plan and through Earlypay’s assistance we were able to do that,” Smith said. 

“I’ll often ask our management team when they ask for something on behalf of a client ‘what’s Earlypay’s advice’ and then we follow the path Earlypay suggest when it comes to finance decisions and that has gone really well for us,” Smith said. 

“They have been fantastic”. 

If you'd like to learn how Earlypay's Invoice Finance & Equipment Finance can help you boost your working capital to fund growth or keep on top of day-to-day operations of your business, contact Earlypay's helpful team today on 1300 760 205, visit our sign-up form or contact [email protected].