ITA Electrical was founded in 2005 by Mike Andrews, a seasoned electrician passionate about energy management and home automation. Over the years, ITA Electrical built a solid reputation across Melbourne, serving commercial, industrial, and residential clients. Despite their expertise and dedication, the company faced financial challenges that threatened its growth and stability.
Hours delivered back to the business
SOX compliance in Settlement process automation
Success rate of bot case completion
For functional release of OBT, RTS and OGS
The Chalange
ITA Electrical experienced a significant financial setback due to a series of unfortunate events, including a major client defaulting on a payment and unexpected equipment failures. These incidents left the business with a bad credit score, making it difficult to secure financing from traditional lenders. The inability to access funds led to cash flow issues, hindering their ability to invest in new technology and meet increasing customer demands.
What did
Tecnologia do
Mike Andrews reached out to us through a recommendation from a fellow business owner in Melbourne who had faced similar financial challenges with a poor credit score.
After evaluating the company’s potential and industry reputation, we offered Mike a working capital loan specifically designed for businesses with bad credit scores. The loan featured:
- Flexible repayment terms: tailored to match ITA Electrical’s cash flow.
- Competitive interest rates: despite the bad credit score, to ensure affordability.
- Quick approval process: To provide immediate financial relief.
Implementation
Upon receiving the funds, ITA Electrical strategically allocated the resources to address critical needs:
- Upgrading Equipment: Replacing outdated and faulty equipment to enhance service quality.
- Expanding the Workforce: Hiring additional electricians to manage increased demand.
- Marketing Campaign: Investing in a targeted marketing campaign to attract new clients and regain market share.
Mike Andrews, who is the managing director, worked closely with his team to implement these changes efficiently. They also maintained transparent communication with us, ensuring adherence to the loan terms and making timely repayments.
The Results
- 30+ processes delivered
- Over 30,000 hrs delivered back to the business
- 100% SOX compliance in Settlement process automation
- >95% success rate of bot case completion
- SDK delivered for native platforms, enabling Virtual & Live agent communications across multiple mobile platforms
