Meet the Expert: Ryan Coughlan

Here he discusses his favourite part of the role and his predictions for the sector over the coming 12 months.

Briefly tell us about your role and what you do…

My current role is Regional Sales Manager within the Print team, I manage a team of Area Sales Managers whilst also looking after my own customers. A large part of my role involves building my network of customer relationships across the UK, providing them with asset finance solutions. I spend a lot of time on the road visiting customers, being able to meet face to face works really well as it really helps us to understand their business needs, we can look at their biggest hurdles and pinch points so we can provide a tailor-made facility. I also spend a lot of time building relationships with industry contacts to continuously understand the changes in the Print industry. This also allows me to gain knowledge on new assets and new technologies which can both benefit and impact our customers.

What was your journey to Close Brothers Asset Finance?

I started with Close Brothers after finishing my A-Levels, joining the Aspire school leaver programme in January 2014. The Aspire programme gave me the opportunity to work in various divisions of the bank, gaining experience in different departments. Following this, I began a sales support role in the print and packaging team, shortly after I joined the Close Brothers Sales Academy in 2017. I was an Area Sales Manager for 6 years before starting my current role as Regional Sales Manager. As I look toward 10 years at the bank in January 2024, I look back on my journey with a great sense of pride and gratitude thanks to the bank always encouraging internal progression and self-growth.

What’s your favourite part of the role?

The best part of my role is being able to immerse myself in an industry which has such a diverse range of businesses, from large entities or small SMEs to long standing family run business with vast histories. I have had the pleasure of meeting many incredible business owners, this has allowed me to see first-hand the day-to-day successes and challenges faced when running a business in these sectors. Creating long-standing relationships where you assist customers on their growth journey is a very rewarding experience.

Give us an example of a deal structure that demonstrates how you can you help a customer

We recently assisted a fast-growing specialist packaging company who were investing heavily into their production facilities. The investment requirement arose due to an increase in revenue the business was experiencing both during and after the pandemic. However, the fast growth not only required a large capex investment to improve overall efficiencies and output improvements, but the business required a large amount of forward buying stock, this would reduce costs and alleviate cash reserve pressures later in the year. Given that the business experienced seasonal revenue spikes due to the nature of their products, we were able to provide a flexible funding product with a ‘seasonal’ payment profile. This was done whilst also raising equity from their existing unencumbered machinery through a refinance agreement, this allowed the business to raise the cash to purchase stock upfront. These two facilities not only provided a solution to the business but were tailored to their needs, protecting cash reserves, and matching their seasonal cash flow trends. This is just one example of where Close Brothers Asset Finance has provided a tailored facility to suit the customers specific business needs.

What are your top 2 predictions for your sector in the coming 12 months?

A large challenge many will face is inflation, the aftermath of the pandemic has resulted in rising costs of materials, energy bills and rent rises. Inevitable cash flow has been a common topic for many businesses over the last year, which is where Close Brothers Asset Finance can assist with the many products we have available for SMEs. However, these challenges have resulted in businesses becoming more cost focused. For some this has resulted in a need to invest to further increase efficiencies on their production, replacing older technologies with new to combat these pressures. For others, the need to streamline and restructure has forced changes and a new direction of focus for many. I see this continuing over the next 12 months.

We have also seen a trend in mergers and acquisitions within the industry as some businesses seek to consolidate and restructure. However, for many others there has been a change in direction with regards to the products they produce. With wide format and packaging sectors displaying a lot of growth we have seen many of our traditional print customers diversify their portfolio to enter these growing markets whilst maintaining their original. This has led to many businesses investing in newer technologies and providing a wider range of printing capabilities. I would expect this trend to continue over the next 12 months.