Whenever you hear someone say they are going to give you the straight truth about a person or particular subject it usually isn’t good news. In a world where we are inundated with posts, tweets and instantaneous information it’s very easy to only get the information people want you to hear. When it comes to the factoring industry it’s very easy to get roped into thinking that it’s just about getting some capital, advance on receivables and make huge returns. What is the actual truth about the factoring industry? Anyone who works in this industry is entitled to their own opinion therefore, I will go on record and say that the views below are only mine based on my experiences as a broker, funder and due diligence coordinator. Truth #1 – … [Read more...]
Archives for January 2014
5 Business Cash Flow Resolutions for 2014
January offers the first opportunity for businesses to evaluate their performance during the busy holiday season and, for many, to consider and commit to a plan for the coming year. Unfortunately, if cash flow is tight during this critical time then it can set a business up for failure. Whether you believe in making resolutions or are afraid of breaking them, we have five business cash flow resolutions that companies can use to eliminate (or greatly reduce) their cash flow concerns. Resolution #1: Control your outward cash flow Are you overpaying for services or, worse, paying for services you don’t even need? As service contracts come up for renewal, look carefully at your expenses and decide if you are getting the best value for your … [Read more...]
How To Select A Market For Your Factoring Company
As far as I can tell, every factoring company is an expert and is also the best in the market when it comes to transportation, staffing, and security guard deals. Everyone offers the best terms, service, and turnaround times. At least, that is what they claim. Unfortunately, from a client’s perspective, there is little difference between factors. They all offer similar plans with similar benefits. So, factoring companies fight tooth and nail for every deal in these industries. However, every year, new factoring companies flock to those industries because they are coveted by factoring companies. In doing so, they face brutal competition from more established and better funded factoring companies. They usually lose. In reality, they … [Read more...]