
CSols
“Thanks to Kriya, we weathered the Covid storm - we were able to invest in our technology, and there was no need for redundancies. And we are again growing in a sustainable way.”

Covering unexpected drop in cash flow
Kriya Lending - invoice finance
CSols unblocks cashflow pinch points thanks to invoice finance from Kriya
The last couple of years have been challenging for businesses of all sizes, primarily due to Brexit and the Covid-19 pandemic, and they are now navigating a period of economic instability. The smaller firms have faced some of the toughest challenges, with cash flow pinch points affecting their ability to operate effectively. CSols, a laboratory informatics company, has found a way to unblock these cash flow pinch points, thanks to its collaboration with Kriya - namely, invoice finance.
What’s the CSols story?
CSols is a software solutions provider for laboratory data management, laboratory automation, and instrument integration. Since 1990, their software solutions have helped laboratories to improve their productivity, efficiency, and data quality.
CSols provide solutions for industries such as pharmaceuticals, biotechnology, food and beverage, oil and gas, environmental, and more. They also offer consultation and support services for their software solutions.
CSols was established over three decades ago with the aim of providing analytical laboratory automation solutions to organisations worldwide. Over the years, the company has expanded and diversified its product offerings to include sample tracking, instrument interfacing, and laboratory quality control systems.
As a result of its unique and innovative approach, CSols has become a leading provider of laboratory informatics solutions, primarily in the UK but with an increasing presence in Europe, North America, and Asia-Pacific.
Challenges along the way
Despite its success, CSols has not been immune to the challenges faced by businesses in recent years. In 2016, the company faced a significant setback when the UK voted to leave the European Union, leading to a decline in orders and uncertainty in the business environment.
Then, in 2020, the Covid-19 pandemic hit, leading to widespread lockdowns, travel restrictions, and reduced demand for laboratory automation solutions. As a result, CSols, like many other businesses, faced significant cash flow pinch points, which impacted its ability to pay suppliers, and invest in research and development. With the energy crisis and the conflict in Ukraine, there has been a need for simple funding for complex times.
As Phil Goddard, Director at CSols, recalls: “Big projects and larger contracts were few and far between. So revenues suffered, and planning became harder month-to-month. In turn, this made it harder to secure funding from traditional sources such as banks. We managed to receive a small grant from the EU of less than £10,000, which in-turn allowed us to access £250,000 from Innovate UK but I knew that even this would not go far.”
Invoice finance unblocks cash flow pinch points
And so they turned to invoice finance to ease cash flow challenges, and access the funds they needed. Fortunately, they chose Kriya after comparing against another lender - flexibility and credibility were key in the decision.
By using Kriya’s invoice finance solution, CSols was able to receive upfront cash for their outstanding invoices, which helped to improve their cash flow and secure the working capital needed to continue operation. Invoice financing allowed them to invest in business growth, their technology and pay salaries without any risk being passed on to their customers and staff.
They found that the process was relatively hassle-free and helped them to maintain good relationships with their customers and employees during what was a challenging time for everyone.
As Phil explained: “Invoice factoring via Kriya is a straightforward mechanism for getting an extra month’s cash into a company. I must also say Kriya’s invoice finance requires a lower level of management effort than I have experienced with other cash sources we have used.”
CSols has partnered with Kriya since 2016, with an invoice finance facility that has grown year-on-year in line with their growing business. They work with a number of different clients across the UK and Europe, and Kriya funds these invoices through the facility.
This means that CSols can access the cash otherwise locked up in these invoices straight away rather than waiting for the payments. This generates cash flow that can be used to invest in their cutting edge technology.
Fast-forward to 2022 and Kriya is proud to have played a small role in the success of CSols, currently growing at 25% year-on-year.
Helping CSols deliver big impact in meaningful ways
CSols collaborates with the Computer Science Department at the University of Liverpool in research and development projects. The university has conducted an impact study on CSols, which examines the influence of their software solutions on laboratory productivity, efficiency, and data quality.
CSols also works with the university on research projects related to laboratory data management and automation. This collaboration allows CSols to stay up-to-date with the latest developments in software technology and to improve their laboratory focussed solutions to meet the changing needs of the industry.
What’s next for CSols?
Looking to the future, CSols is confident about its prospects, despite the challenges of the last few years. The company is focused on expanding its global presence and continuing to innovate and develop new laboratory automation solutions.
Thanks to its collaboration with Kriya and invoice finance, CSols has the working capital it needs to achieve its goals and continue providing its customers with the best possible laboratory informatics solutions.