At some point as a business owner, the bad news is that you’re likely to be faced with a customer failing to pay for a service or product. The good news? This is where Invoice Factoring (also known as debt factoring) proves invaluable. Using this process, a third party steps in to purchase your outstanding invoices for around 85% of their value. Once bought, the invoice financier then pursues the customer for the owed money, so you don’t have to. When this debt has been collected, the remaining balance is presented to you, rapidly enhancing your revenue. An added benefit to Invoice Factoring is that you’re significantly less likely to encounter delayed payments thanks to the financier completing credit checks on prospective customers.
Depending on which invoice financier you select for this process, you’ll have a differing level of interest to pay for the recovery of the money. In this way, our specialist advisors help select the most cost-effective and suitable financier for your Invoice Factoring. If outstanding invoices have thrown your business objectives into disarray, get in touch with our expert team on 01782 617600 or send any questions to firstname.lastname@example.org.