You might wonder, besides getting money right away, what else a factoring company can do for you. If you’re working with a limited service factor the answer is, not much! However, Universal Funding is a full-service factor and offers a wide range of services that can be tailored to meet your needs. A limited service factor typically will not do much more than buy your invoices and collect the money. Here are some of the benefits you should look for when choosing a factoring company:
Perhaps the biggest benefit achieved through invoice factoring is establishing a schedule of predictable cash flow. Cash runs business, every one knows that, and being able to rely on a consistent source of money keeps you productive. Factoring can help companies build more accurate budgets and keep projects on schedule. More cash can increase purchasing power with suppliers, increase production, purchase valuable business assets and much more.
Oversight of Accounts Receivable
Universal Funding also offer complete oversight of your company’s accounts receivable department. This can include everything from billing, follow up, and collections. This service can be especially useful for small and midsize businesses that usually do not have a dedicated A/R department or staff. Small business owners and managers wear a lot of hats and having to allocate time for managing customer accounts can be distracting to say the least.
Valuable Tool for Growth
In contrast to a bank loan with the interest and fees that go along with it, factoring is a much better value. Instead of paying a bank for the privilege of borrowing money, factoring fees include additional services from people genuinely interested in you and your company. Factoring is a finance tool that grows along with your business and provides debt-free cash when you need it.
Universal Funding keeps companies moving forward by relieving the worry associated with sporadic cash flow. Give us a call today at 800-405-6035 or complete a rate form and a factoring specialist will get in touch with you right away to see if factoring can assist you with your cash flow needs.