Testimonials

	What Octet offers my business: An importer of emergency lighting and exit systems for the past four years, Joel Moss, CEO of Evolt, explains how Octet’s business transaction facility has positively impacted his dealings with Chinese suppliers. “China is the logical choice to source our products. There are certainly advantages to working with China, however distance, finance and logistics can make it challenging. Octet has provided solutions for my business to overcome many of these obstacles.” “The extra finance that Octet provides is essential for our business, and the system of document tracking, digital authorisation together with all the other checks and balances that Octet established for our suppliers, has meant that each purchase from China has become more cost effective streamlined and efficient. I think that because our suppliers know that they will be paid within a prescribed timeframe as a result of Octet’s immediate cash transaction process, they more readily work to our deadlines.” Mr Moss says, “We deal principally with large international manufacturers in China, but everyone is vulnerable in this economic climate, so you can never be too sure of. Some of the smaller manufacturers we deal with in China – their credit quite literally evaporated in the recent credit crunch. The visibility of Octet’s overarching finance reassured our Chinese sellers. Essentially, they know that Octet can pay them the total amount upfront. Our suppliers know when they are getting paid and can adjust their production processes accordingly.”
	Joel Moss Evolt - Importer of Commercial Lighting

	What Octet offers my business: The China Beckman Group has been in the export business for over ten years and has developed its services to offer an array of goods ranging from garments, textiles, printing & dyeing and packing supplements. Ms Jinglan Xiang, Sales Manager, says that Beckman was introduced to Octet through an Australian client who was importing from them. “Last year we were negotiating a large purchase order with an importer based in Australia. When we reached the subject of payment, the importer mentioned that they would like to use Octet’s business transaction financing facility to pay for the goods. Octet’s business development managers immediately contacted us. It was not long before we decided to trial the product. “Since then, we have a seen a significant boost in both the volume and frequency of purchases from our importers. Based on these positive experiences, we now recommend Octet to all our overseas buyers as long as they are in the countries where the Octet service is available. We have found that the Octet service is especially useful for importers who have a tight cash flow, but would like to increase their purchasing power via financing at a reasonable cost. The advantage of Octet is that it relieves the importer’s cash flow pressure by providing them with up to a 120-day open account payment term, with the first 60 days being interest free. “An unsecured revolving credit line assigned to the importers achieves this. It allows importers to break the constraints on their buying power to purchase more. This in turn benefits exporters like us. We will receive larger orders and payment is streamlined. Octet’s internet based electronic trading portal allows both buyers and sellers to track the status of transactions from beginning to the end, which makes dealing with overseas buyers more convenient, more secure and more likely,” says Ms Xiang.
	Jinglan Xiang China Beckman Group - exporter of textiles from China

	What Octet offers my business: Ari Amoils, Managing Director of Golden Steel International, has been importing construction materials from China for over seven years. He was introduced to Octet by his accountant and has found that the Octet Trading Card has provided his business with the ability to grow with security and greater financial freedom. Mr Amoils says, “The best feature about Octet for my business has been the bridging period it provides Golden Steel to buy and sell, and possibly even buy some more, before we have sold all our product back in Australia. I also find the fact that I didn’t have to offer up assets as security to be very rewarding, freeing up my capital flow and allowing the business to grow at optimum levels. Also, taking advantage of Octet’s interest free period is particularly beneficial to allow us to better manage our finances.” Trading with China can be quite a struggle for growing SME’s because of the settlement demands of Chinese exporters. Octet provides importers, like Golden Steel, with immediate access to credit through a secure closed community portal. This allows for settlement requests such as payment on delivery or establishing Letters of Credit through Octet’s online payment process. A facility like Octet gives SME’s extra time to off-load their purchased goods at the best possible price.
	Ari Amoils Golden Steel International - Importer of steel wire and other construction materials

	Austrade-Global News: Octet is a financial service provider for Chinese suppliers and Australian buyers. In order to help Octet identify potential customers, Austrade Guangzhou successfully established 'Australian Breakout Room' at each phase of the Canton Fair with the support of China Foreign Trade Centre. The China Foreign Trade Centre not only provided the venue within the complex of the Canton Fair, but also sent out the invitations to the targeted Australian buyers and their Chinese suppliers on behalf of Austrade Guangzhou. The breakout room provided the perfect place for Australian buyers and Chinese suppliers to relax and network during the fair, enabling Octet to successfully introduce their financial services to Chinese suppliers and Australian buyers. The feedback from both the Chinese suppliers and Australian buyers was positive, with many feeling they discovered a very useful financial service provided by Octet. “It is a small platform within the big platform, just like a little Australian Island in the Canton Fair” commented one Aussie buyer. Guangzhou TV Finance Channel and English Channel made special reports on the event. This helped Octet greatly in the promotion of their financial services among the Chinese suppliers and Australian buyers.
	Austrade Global News