Features of Receivables Factoring
By H Addington
Featured Factoring Services
Invoice Processing – In most cases, the factoring service will mail out their client's invoices to customers, pay postage, post invoices to the computer, deposit checks, enter payments and produce regular reports. All the client needs to do is generate an invoice as they normally would and the factoring company takes care of the rest.
Credit Receivable Management and Consulting – The factoring company’s extensive credit and accounts receivable assistance is available at no charge and is often less costly than the client maintaining their own in-house credit department. The factor serves as your credit department, accounts receivable department, and collection department.
Courteous Collection - All factor funding companies understand the relationship you have with your customers. Heavy handed techniques to collect your invoices are not used. They work with your customers so they understand factoring and how it helps you serve them better.
Back Office Support - This helps the client reduce the mailing, time and collections on your accounts receivables.
Plus Much More
Factoring Receivables Features Same Day Invoice Funding – Factoring entities will buy an invoice and give the client an advance, up to 70, 80 or 90%, depending on the circumstances. In the first 12 to 24 hours that the client supplies them with invoices for goods and services that have been shipped and accepted.
Processing Receivables - Factors will buy the clients invoices from a faxed copy of the invoice. Clients send them the original invoices in the envelopes provided so they can mail out the originals for you.
No Long Term Contracts - Clients can give thirty days written notice to terminate the services any time
No Start up Fees - Clients are charged only for the invoices that are bought by the factoring company. In some cases a small application fee is requested.
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