Considering invoice factoring, but worried about the implications if a customer does not pay? Allow Bay View funding provide some clarification the process.
Firstly, to put your mind at ease before we go into details, an efficient invoice factoring company will thoroughly vet your customers for reliability to reduce the risks associated with non-payment. An invoice factoring company should always:
- Run a credit check on customers
- Provide accounts receivable reporting and invoice management throughout the factoring process from invoice in to payment out