Enhancing Customer Relationships
Above all, your factor wants you to be successful, therefore the relationship they forge with your customers, as well as you, will be of a positive, professional and helpful nature. You ultimately work to make money, and your relationship with your customer is obviously key. It is important to understand that your factor will work with you to make sure your customers are comfortable with the payment process. More importantly, the factor can actually enhance your relationship with your customers.
- Your factor is working for you—they will discuss the accounts receivable process with you once you decide to factor your invoices and answer any concerns you may have regarding the payment process.
- The ultimate goal is to help you improve your cash flow, and part of the process is to help you maintain good relationships with your customers.
- Factors will always provide professional and polite reminders when invoices are overdue.
- Factors understand how to forge and maintain good relationships; it is an important part of their job.
The best part of using a factor is that they take the emotion out of invoice payment. They are not afraid to ask for payment on your behalf, in a professional and courteous manner.
Factors are there to work for you, and they offer a professional service that helps to ease the business of invoice payment, leaving you free to concentrate on other aspects of your business.