United Merchants plc (Unimer) is expecting the current financial turmoil to increase its business yet further, after recording an 11.3% increase in annual transactions during the last financial year.
Unimer, the UK’s largest invoice clearing house and e-commerce conduit for the building products sector, handled more than 1.25 million transactions valued at a record £855m up to April.
Managing director Howard Grant said the economic climate would make it more important for merchants and other building firms to process their invoices efficiently and ensure they are paid on time, making Unimer’s services more sought-after.
“Clearly we can all recognise now that the current financial year is going to present some unique challenges and a potential slowdown in activity, which will be at a rate the sector has not seen for a long time,” said Mr Grant.
“In a declining market, cash flow management becomes paramount, and therefore Unimer’s role as an invoice clearing house, and underwriter of credit risk, will increase in importance as a means of suppliers to get paid and so that merchants optimise their bottom line performance.”
Unimer added the launch of a recent online system further helps merchants and suppliers ensure their financial security by speeding up the invoice query process and reducing the administrative burden on companies.
