Over a decade ago, Simon Magner founded Iridium from his dining room table because he realised the SME space needed high-quality accounting and compliance advisory services — especially from people that entrepreneurs were keen to work with. Iridium’s clients value the control that entrepreneurship gives them over their lives and businesses.

However, one thing that business owners often don’t have much control over is cash flow, especially for South African SMEs. “Cash flow is a major challenge for most SMEs,” reflects Simon. “Many clients would come to us pleading for our help fixing their cash flow problems. We realised a need to solve this, to ensure continued business growth for these SME clients.” 

Iridium already knew about the cash flow challenges that affected their clients, but they were able to level up their customer service when they discovered Bridgement through network connections. “The SME community is small and well-connected, and people love referring within if they know the product or the solution is good,” says Simon. “We were encouraged to check out Bridgement due to their user-friendliness and ability to deliver financing quickly to our clients. This was the exact solution that we knew so many of our clients needed, and so began our partnership with Bridgement!” 

How Iridium diversified its offerings and strengthened client relationships through a Bridgement partnership  

Since joining Bridgement’s referral partnership program, Iridium has been able to diversify its offerings. In addition to accounting and compliance support , the business  now connects clients to SME funding solutions too. This has been a serious value-add for clients, especially those looking for fast and flexible cash flow solutions to support business growth. Most of Iridium’s clients need speedy funding to settle SARS-related payments or purchase store inventory. 

Iridium has always known about the common cash flow issues affecting their SME clients, but now they have the ideal solution for them. “We can now confidently direct our clients to Bridgement knowing that they will be helped timeously and professionally, and receive the funding they need to help support business growth,” says Simon. 

The partnership between Iridium and Bridgement has been a synergistic one because both businesses are thoroughly committed to building up local SMEs. While the referral commission that Brigement offers through the referral partnership was a welcome perk for Iridium, it was just that — a perk. “[Getting a referral commission] was a nice bonus for doing the work that we wanted to do in the first place — which was helping our clients,” says Simon.   

For Iridium, the true value of partnering with Bridgement lies in the fact that they are in a better position to help their SME clients attain sustainable business growth without compromising cash flow. Furthermore, through partnering with Bridgement, Iridium  has been able to invest further in building client relationships. “Having the ability to offer potential solutions to clients helps us build that personal relationship, which is key to providing a personalised service for our clients,” says Simon. 

Plus, the fact that clients don’t pay for advisory services around Bridgement’s funding solutions just reinforces the trust that Iridium has built over years of service. “Our clients trust our advice and recommendations knowing there’s no ulterior motive or extra cost for them in the recommendation we are making,” says Simon. “We are just here to make things work better!”

What about Bridgement’s impact on Iridium’s clients? 

According to Simon, many of Iridium’s clients appreciate Bridgement’s facilities for their accessibility, transparency, and flexibility. Many of Iridium’s SME clients struggled to access business funding from traditional lenders who are hamstrung by stringent risk thresholds and, more often than not, can’t help smaller businesses out. The fact that Bridgement can facilitate access to business funding in a matter of hours without compromising security or compliance is a huge win for time-strapped SMEs. 

It’s only natural that Bridgement’s flexible and transparent facilities appeal to entrepreneurial people, who place a lot of value in financial autonomy. “Entrepreneurs appreciate transparency and control over their spending,” says Simon. “Bridgement’s pricing structure is simple and 100% transparent. If you like to do business that way, they’re probably a good match.”

Bridgement only charges a single, simple fee per withdrawal on an approved facility. Not only does that bring some much-needed simplicity to the world of business funding, but it also gives entrepreneurs the oversight they need to plan cash flow and maintain complete control of business spending. “Also,” Simon adds, “if our clients settle early, the ability to close out the facility early is great — and getting a rebate or a discount on the fees helps things.” 

Bridgement and Iridium: a partnership founded on a shared passion for growing South African SMEs 

“We love partnering with Bridgement in so many spheres of business,” concludes Simon. “We share such similar client bases, aspirations and values that our paths cross in so many different ways. This has opened up many doors for both our businesses, and we are excited for this relationship to continue long into the future.” 

When asked if he would recommend Bridgement to other advisors, Simon responded, “Oh, absolutely! [They are a] great bunch of people who genuinely care for SMEs in South Africa, and who will help you in supporting your clients’ growth aspirations and success.” 

Thanks, Simon! We also love working with people who are just here to make things better for their clients. 

Interested in partnering with Bridgement? Register as a referral partner today.