A business finance product developed in Wales has been heralded by one of the financial industry's top journals as 'the most exciting product to hit the market in a long time'.

Wageroller, a product of Tredomen-based Quest4Finance Ltd, pays companies' wage, national insurance and PAYE tax commitments for up to nine weeks, providing valuable cashflow for the business.

Importantly, the finance does not require personal guarantees from company directors and works alongside existing facilities such as bank overdrafts and invoice factoring.

Following three years in development, the innovative Wageroller product has been on the market for just 15 months and is already paying salaries for more than 50 companies totalling in excess of £7.5m each month.

Paul Breen, the leading figure behind Wageroller, is proud of what the product has achieved in such a short space of time.

He said: "Wageroller turns the funds normally tied up in the payroll into a powerful cashflow stream. It smoothes out the peaks and troughs caused by overtime and bonus payments, and late payment by clients, giving businesses space to manoeuvre within a manageable cashflow."

In December's Business Money Magazine, Wageroller was acclaimed for its simplicity, flexibility and the freedom it gave business owners. The Wageroller solution is incredibly cost effective, having been positioned so that it normally works out cheaper than a factoring or unsecured overdraft facility.