Point Duty

When Point Duty’s international projects delayed due to COVID-19, we provided working capital support to manage their business costs and retain their staff.

Point Duty is a software development business specialising in intelligence analytics. Since 2004, the Queensland-based business has helped global governments, agencies and enterprises find and make sense of data. The business offers intelligence and data solutions to help identify threats such as child exploitation, fraud, terrorism and more.

Point Duty has subsidiaries in the US, UK and UAE. After COVID-19 closed international borders, some of the business’ existing projects were delayed and staff were relocated back to Australia. Non-Executive Director Gary Morgan explained that this had an immediate impact on their working capital.

“Contract payments were delayed on works in progress, and significant nation state and jurisdictional agency procurement contracts were held back in the US, Europe and the Middle East,” he said. “Jurisdictional issues meant our bank couldn’t help with finance for the project delays.”

Successfully navigating unchartered waters

Gary found out about Export Finance Australia through our social media channels and approached us for support. Our Business Development Director Adam Pearce worked with Point Duty to identify the right finance solution for their need. 

“The process was made easy by having Adam as a partner manager,” said Gary. “He understood what we were doing, and he thought the COVID-19 Export Capital Facility would be the right loan for us – as it has proved to be.”

With a finance solution in place, Point Duty has been able to manage its business costs, take care of its staff and get ready to be back on site in the Middle East later this year when their contracts resume.

Managing Director Stan Kaine said that without Export Finance Australia, sourcing finance for their COVID-19 impacted projects across the world would have been difficult and extremely expensive.

“You can have the best plans in place for managing your business risk globally, but when the pandemic hit, we were in unchartered waters,” he said.