Choosing to work with a partner to set up a receivables factoring strategy does more than just allow you to benefit from the receivables before your customers send in payments. This approach also helps to relieve you and your employees of a task that is often unpleasant and time consuming. That task has to do with the collection of past due invoices.
When your funding partner purchases a batch of invoices, that partner also assumes the task of receiving and posting payments on those invoices. As part of the arrangement, the partner will also take on the task of reminding customers when their invoices drift past the thirty and forty-five day mark. These activities are time consuming and require a delicate approach to maintain customer relations. Receivables factoring frees you from this task and allows you to focus on other aspects of your business.
This leaves you and your employees free to concentrate on activities that ultimately produce more revenue. The time that is normally devoted to issuing statements and collection efforts can be redirected toward up-selling new products to your existing clients, or supporting the sales effort to bring in new ones. More clients and increased billing helps your business to become more profitable and provides a greater measure of security for you and for everyone who works at your company.
If you are ready for Universal Funding to turn your invoices into fast cash, give us a call today at 1-800-405-6035 or submit a rate form for a free consult on your financing options.