When it comes down to choosing an invoice factoring company, there are many questions that need to be addressed, and many concerns to overcome, before there is a mutual decision to move forward. For Bay View Funding, the relationships they forge with their customers, and their customer’s clients are of paramount importance.
There is a lot of talk about the initial decision to factor, and discussion about the process and all the documentation required. But one of the most frequent concerns is ‘How will you treat our customers?’ Do they have to know we are factoring their invoices? This concern is very real, simply because the answer is ‘yes’ they do need to know. Factoring with an experienced company can actually enhance your relationship with your customers.
The team at Bay View Funding does not want your decision to factor to be based upon your concern about how your customers will be treated. Excellent customer service is an integral part of our company philosophy. Professional and friendly service is on going and not just something to be considered on initial contact, in order to get business, or when the first set of invoices are funded.
We believe that when you have your customer’s clients expressing their happiness with the service they receive then you know you are heading down the right path. The initial point of contact sets the scene for more detailed interactions, but it should not be a constant worry that your factor is treating your customers with respect when going through the collections process.
There is a detailed set of procedures in place that allows debtors to pay their invoices. If the payment is late or delayed, they will be contacted and reminded in a professional manner. We will be in constant contact with our customers, letting them know if we have any issues at all with payment from their clients. We are working together as a team. If there are problems, they are normally related to:
- Slow payment that goes beyond credit terms
- Repeated delay in payment
- Any considerable drop in credit rating
When there are issues to be addressed, we will look at them together, and always keep our customers notified of any potential bumps in the road.
During the initial period of contact, Bay View Funding will fight for their customers, not prepared to give up just because a few obstacles get in the way. The underwriting process can take a little time, and there may be a few issues to overcome, but account managers will do all they can in exceptional circumstances to enable their customers to factor as quickly as possible and at the best rates available. Not only have we managed to find answers to challenging problems, we have forged long lasting friendships with many of our customers.