Companies from all different industries and of all sizes can benefit from using invoice factoring to grow their business.
Some business owners worry that using invoice factoring will hurt their relationships with customers; they assume that customers will think a business that uses invoice factoring isn’t doing well. However, in many cases, the opposite is true.
Topics: Business Growth, Accounts Receivable Management, Cash Advance, Financial goals, Invoice factoring
Large government contracts can be a boon for your company, as they provide generous amounts of revenue. Unfortunately, government contract payments can be far from reliable. Since government contracts depend on collaboration between multiple governmental agencies, payment can take longer than with other kinds of businesses. Sluggish payment processes can disrupt cash flow and even jeopardize your own timely payments to employees, suppliers, vendors, or subcontractors. This is where the process of invoice factoring comes in. Learn if you can apply it to your government contract and how to use invoice factoring for your municipal clients.
Topics: Factoring Accounts Receivable, Government Contract Financing, Business Financing, Invoice factoring
Among the many impactful factors, the oil and gas industry is heavily dependent on the economic climate. As one of the leading indicators of global economy and relations, it is also one of the mostly closely watched and hotly debated. Knowing where the industry is headed can help businesses make informed decisions about an industry that is historically volatile and forever changing.
Topics: Financing for the Oil and Gas industry, Invoice factoring
By 2020, almost half of all workers in the United States will be millennials, individuals born between 1980 and 2004. Millennials are distinct from other generations having grown up in the internet age, with information technology that was not available to previous generations shaping their unique interests and motivations. This means that strategies that worked for recruiting previous generations may no longer be as effective for securing the top talent. Staffing businesses that adapt to millennials’ needs are more likely to attract this team-oriented and tech-savvy group of candidates.
Topics: Payroll Funding for Staffing Companies, Factoring Accounts Receivable, Staffing Industry, Invoice factoring
Invoice factoring provides businesses with quick cash they can use to invest in expansion or cover expenses. However, business owners often wonder if it’s the most cost-effective way to obtain funding. Here’s a breakdown of the process, a comparison of recourse and non-recourse factoring, and a look at factoring fees.
Topics: About Invoice Factoring, Cash Flow management, Invoice Factoring Costs, Invoice factoring
You start a business because you’re passionate about what you do. You stay in business because you’re good at it. However, no matter how much you contribute to your industry or how much you excel, you still face challenges managing cash flow. The time between the date you submit your invoices for payment and the time you receive payment often impacts your potential for growth.
Generally speaking, it is easy for business costs to quickly escalate. Often, companies find themselves needing more employees or materials than they have the cash for, and the shortage can get in the way of growth.
Improving cash flow can make it possible to act decisively when there is an opportunity for growth or a chance for a business to improve product development.
