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3 Reasons Why Customers Appreciate Invoice Factoring

Posted by Gil Oliva on Wed, Dec 18, 2019 @ 08:13 AM

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.

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Topics: Business Growth, Accounts Receivable Management, Cash Advance, Financial goals, Invoice factoring

How Do Clients View Companies that Use Factors?

Posted by Gil Oliva on Tue, May 24, 2016 @ 08:30 AM

Cash flow problems plague even the most successful businesses. The lag time between the completion of a project and the point of payment can create cash shortages that hamper your ability to grow your company or capitalize on new opportunities. That’s where invoice factoring comes in.

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Topics: Cash Flow Solution, Business Growth, Accounts Receivable Management, Cash Advance, Cash Crunch, Client Relationships

How Accurate is your Cash Flow Forecast?

Posted by Gil Oliva on Wed, Jul 01, 2015 @ 08:30 AM

It is a common problem for companies to find their cash flow forecast is less than healthy, with errors and discrepancies showing up at the end of the year. Sometimes it comes down to items that are omitted, sometimes it is elements that take you by surprise, or sometimes it is simply that you have not been conservative enough in your estimation, assuming a higher percentage of sales than actually occurs. So what are some of the most common reasons for inaccuracy?  

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Topics: Accounts Receivable Management, Cash Flow management

How Healthy is your Cash Flow Forecasting?

Posted by Steve Barthol on Fri, Jan 23, 2015 @ 08:00 AM

The start of a new year seems to ring in a plethora of resolutions encouraging healthy eating and exercise. What a great opportunity to check the health of your business working capital and make sure you have the reserves you need to stay in business if your customers delay payment, or simply cannot pay due to an unexpected emergency. 

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Topics: About Invoice Factoring, Accounts Receivable Management, Cash Flow management

Is your Outdated Finance Management System Hurting your Business?

Posted by Gil Oliva on Fri, Oct 03, 2014 @ 08:00 AM

How long do you spend working on invoicing and all the related spreadsheets and paperwork inherent in the process? Is this the most effective use of your time? 

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Topics: Factoring Accounts Receivable, Accounts Receivable Management, Client Center

Why Should my Customers Have to Apply for Credit?

Posted by Gil Oliva on Wed, Sep 03, 2014 @ 08:11 AM

Every time you offer your customer terms on their invoices, you are extending credit. Do you have an application procedure in place in order for your customers to qualify for extended payment? Or do you offer 30-day payment terms or longer as a matter of course?

If the answer to the last question is yes, you may want to rethink your policy. No matter what, your customers should be applying for the privilege of paying anything from 30 to up to 90 days past the due date of their invoice. A well-constructed credit application tells your customers you are serious, and may also make them feel more comfortable about doing business with you.

Establishing that your customer is creditworthy means collecting all the information needed should the account become delinquent. It is always prudent to be prepared for late or non-payment from any of your customers. There are certain references that help establish the security of each account, such as bank references and trade references. Using these references enables you to establish past history with creditors, and also how well financial commitments are handled. In some instances, it may also be worth asking if good customers with less than healthy references are prepared to sign a personal guarantee. Should their business go into default, they will be held personally responsible for any outstanding payments.

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Topics: Cash Flow, Accounts Receivable Management, Credit Application

How do I pick a Collection Agency? – Five Hot Tips

Posted by Gil Oliva on Wed, Aug 27, 2014 @ 08:00 AM

Collection agencies can play a valuable role in accounts receivable management. The rules of engagement are not always clearly explained. Here are a few tips about when to use a collection agency, and how to go about picking the right one.

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Topics: About Invoice Factoring, Accounts Receivable Management, Collection Agency

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