How Roster Right Built a Multi-Year Growth Strategy on Smarter R&D Cash Flow
When traditional banks couldn’t fund an early-stage R&D organisation, Roster Right founder Lisa Spiden discovered a financing partner that understood her business model. Over several years of partnership, she’s transformed year-end tax refunds into year-round working capital, accelerating both product development and commercialisation without touching operating cash flow.
“The team is fantastic to work with. Very knowledgeable, supportive, and responsive. In addition to a solid product offering, I have had a wonderful experience with Rocking Horse and would highly recommend them for any business looking to forward fund their R&D.”
— Lisa Spiden, Founder and CEO, Workforce Analytics (Roster Right)
Case Study
Q1. What is your name, title and workplace?
A1. Lisa Spiden, Founder and CEO of Roster Right.
Q2. What problems were you having before you used R&D Finance?
A2. It’s difficult for an early-stage R&D organisation to get funding from traditional funding institutions such as banks.
Q3. Why did you choose Rocking Horse over other providers?
A3. I was initially referred to Rocking Horse by our accounting firm, and I’ve been using them for quite a few years now.
Q4. How did you use Rocking Horse’s R&D Finance?
A4. We used Rocking Horse’s R&D Finance to access funds throughout the year that would otherwise only come back to us at year-end. This allowed us to continuously invest in the development and commercialisation of our products without waiting.
Q5. What advantages did you see for using R&D Finance?
A5. It provides fast access to cash that allows you to grow and evolve your business and products quickly. It also means you’re accessing cash that would be coming back to you at financial year-end anyway, so you’re not depleting the operating cash flow you need for day-to-day business.
Q6. On a scale of 1-10, how likely are you to recommend Rocking Horse to a friend, family or colleague?
A6. 10.
Q7. What would you tell someone if you were recommending Rocking Horse?
A7. The team are fantastic to work with—very knowledgeable, supportive, and responsive. They combine that excellent service with a solid product offering.
Q8. How would you rate your overall experience with Rocking Horse?
A8. I’ve had a wonderful experience with Rocking Horse and would highly recommend them for any business looking to forward fund their R&D.
Our Innovative Solutions
Early-Stage R&D Funding When Banks Say No
Early-stage R&D organisations can face a structural problem: Traditional banks don’t understand your business model. You’re investing heavily in development and commercialisation before revenue scales. Your assets are intellectual property, not equipment or real estate. Lisa describes this challenge directly: “It’s difficult for an early-stage R&D organisation to get funding from traditional funding institutions such as banks.”
We specialise in exactly what banks don’t: Financing R&D-intensive businesses based on the value of your qualifying expenditure and anticipated tax refunds. No property collateral required. No personal guarantees. Just access to capital secured against your earned R&D tax incentive, the government receivable you’ve already generated through qualifying work. For early-stage companies where every dollar of operating cash flow matters, this structure solves the funding problem banks can’t address.
Year-Round Capital Access, Not Year-End Waiting
Here’s what makes Lisa’s approach strategic: Roster Right doesn’t use our financing to replace other funding sources. They use it to access funds throughout the year that would otherwise only arrive at the end of the financial year. As Lisa explains: “We access funds that would be coming back to us at year’s end, but we can access them throughout the year to further invest in development and commercialisation of our products.”
This isn’t about borrowing money you don’t have. It’s about timing the money you’ve already earned. The difference? You’re not depleting operating cash flow to fund R&D sprints. You’re converting a year-end lump sum into distributed working capital that aligns with your actual development schedule. The result is what Lisa reports: faster access to cash that allows you to “grow and evolve your business and products quicker” while preserving operating capital for day-to-day operations.
Partnership Built Over Years, Not Transactions
Lisa has been working with Rocking Horse for “quite a few years”, initially referred by her accounting firm. That longevity tells a story single transactions can’t. When you return year after year, it’s because the relationship delivers consistent value beyond just capital provision.
Lisa describes our team as “fantastic to work with”, knowledgeable, supportive, and responsive. That matters enormously for early-stage companies where financing needs evolve as you scale from development to commercialisation. We’ve seen Roster Right’s journey over multiple years, understanding how their R&D patterns shift, when they need capital access, and how to structure facilities that support their growth trajectory. The result is what Lisa calls a “wonderful experience” with a team that combines expertise with genuine partnership.
Speed That Enables Strategic Growth
For early-stage R&D companies, timing determines whether opportunities become achievements or missed chances. Lisa highlights this advantage explicitly: “Fast access to cash that allows you to grow and evolve your business and products quicker.”
Development timelines don’t wait for the financial year-end. Commercialisation opportunities don’t pause for tax refund processing. When you can access your earned R&D capital throughout the year instead of in a single year-end payment, you’re matching funding velocity to business velocity. The compounding effect of that alignment shows up in what Lisa describes: quicker growth and faster product evolution. Not because you’re spending more, but because you’re spending at the right time.
Why Wait Until Year-End for Capital You’ve Already Earned?
Traditional financing structures force early-stage R&D companies into impossible choices: Deplete operating cash to fund development, or wait until the financial year-end for tax refunds while opportunities pass by. Lisa Spiden faced this constraint until she discovered a third option.
Roster Right now accesses their R&D tax incentive funds throughout the year as advance access to their own earned capital. The advantages compound: Faster growth velocity, quicker product evolution, and preserved operating cash flow for actual business operations. Lisa’s been using this approach for years because it solves a structural problem banks can’t address: Funding innovation before revenue scales.
If you’re an early-stage R&D organisation struggling to get traditional bank funding, or if you’re waiting until year-end to access capital you’ve already earned, that constraint has a solution.
Forward Fund Your R&D. Accelerate Your Growth.
You’re investing in development and commercialisation that will create future value. Your R&D tax incentive recognises that investment, but only pays it back at financial year-end. The question Lisa Spiden answered years ago: Why wait?
She describes working with our team as a “wonderful experience” with people who are “knowledgeable, supportive and responsive” combined with “a solid product offering.” That combination, expertise plus service quality plus the right financing structure, is why she gives us a 10/10 recommendation and why Roster Right has partnered with us for years.
If your development roadmap requires capital access that matches your R&D schedule rather than the ATO’s timeline, we should talk. Fast access to your earned tax incentive can be the difference between evolving your business quicker and waiting for opportunities to pass.