Case study: Empowering Growth and Flexibility for Project Partners
Project Partners, a specialist business transformation consultancy, found itself facing significant challenges when transitioning from being part of a group of companies to standing on its own. They needed to secure flexible funding that aligned with their unique operating model to support their growth, project trends, and day-to-day operations. In their quest for a financial solution, they discovered Sonovate, a platform that stood out for its flexibility and alignment with Project Partners’ needs. This case study explores how Project Partners overcame their challenges with Sonovate’s support and how this partnership is reshaping their future.
Before partnering with Sonovate, Project Partners relied on their group parent for working capital. When it came time for them to trade independently, the need for funding became clear, as they grew very rapidly. They explored traditional lending options, and also spoke to some of Sonovate’s market peers, but found them to be either inflexible or unsuitable for their dynamic business model.
Project Partners discovered Sonovate’s unique financing platform, which addressed their specific needs. Mark Pratt, CEO of Project Partners, noted that the flexibility and alignment with their operating model were the key differentiators. The Sonovate platform’s ability to provide funding based on the invoiceable value allowed Project Partners to manage their working capital according to their business’s natural fluctuations, providing them with the control they needed.
Flexibility and User-Friendly Interface:
An additional significant advantage of Sonovate was its user-friendly platform. “The other benefit is from a day to day operational angle, I know from Kelly on our team who deals with your platform on regular basis that it’s quite a simple to use platform. So operationally, it’s not a tedious to use platform whereas our incumbent, a large banking provider, were quite inflexible and didn’t have an understanding of what we needed or how we needed to operate” said Mark.
Supporting Growth with Control:
Sonovate’s approach enabled Project Partners to secure working capital for immediate use, supporting their growth plans. When Mark was asked why he picked Sonovate he said ‘I think fundamentally at its core it was the flexibility and alignment with our operating model.’
Automation and Integration:
Project Partners is focused on automation and AI integration. They are working towards integrating their processes with Sonovate’s platform for a seamless experience, from client approval to released funds. This automation will streamline their operations, providing a smooth and efficient finance operation.
With Sonovate’s support, Project Partners has ambitious plans. They are launching a ground-breaking platform called PPV2 (Project Partners Version Two) that promises to revolutionise the consulting industry. This platform will provide an AI powered platform which will recreate CVs, delivering a consistent format to be presented to clients, allowing them to better assess different candidates for specific roles, helping them to choose those best fitted to work on their projects.
Benefits and Outcomes:
The flexible, tailored financing model is helping Project Partners to navigate the unpredictable path of business growth while maintaining control over their finances.
‘Well, really (the Sonovate platform) gives us the security and assurance that as we ebb and flow through our growth journey. Growth is never linear. By working with Sonovate, we know that whatever the weather we’ll be able to access the capital we need to trade.’ Mark Pratt, CEO and founder of Project Partners.
The collaboration between Project Partners and Sonovate has transformed the way Project Partners secures working capital, providing them with the flexibility and financial control they need to support their growth and innovation initiatives. As Project Partners looks forward to launching their ground-breaking PPV2 platform, Sonovate remains a strategic partner, offering not just financial support but also a shared vision of disrupting and reshaping the consultancy industry through innovation and service quality. This partnership reflects a commitment to shaking up established norms and driving industry evolution.
Watch the full testimonial below.