So, you decided to factor your invoices. You’ve discovered that factoring your invoices allows you to get funds immediately without the worry of acquiring debt. You’ve applied for accounts receivable factoring through a factoring company and you’ve been approved. Now that the hard part is over, what’s next? Many businesses aren’t sure what the next steps to take after being approved for invoice factoring and receiving cash. There are some smart ways to use the funds as a means to your cash flow problems and essential needs. 5 Steps to Take After Being Approved for Invoice Factoring 1. Assess the Needs of the Business It is important to assess what your company needs over what you want. The difference between wants and needs is … [Read more...]
Tax Deductibles and Factoring Fees
In the spirit of the season, it’s time to file your taxes. Your tax returns verify your previous income level and are proof of the tax obligations you have fulfilled – both filing and payment. It is recommended to turn to a creditable tax agent to ensure everything is done correctly. For better understanding of your invoice factoring terms of agreement, reach out to your factoring company. There is a lot to be determined when determining if the receivables you factored are taxable. How a company treats its accounts receivable depends on what accounting method the company takes. If it uses the accrual method, then the company records revenue as soon as it makes a sale, which means accounts receivable get counted as income. The general … [Read more...]
2019 International Factoring Conference
The 25th Annual Factoring Conference will be held at the Manchester Hyatt in San Diego, CA! The event is hosted by the International Factoring Association and features industry information from accredited speakers, expert panels and roundtable events, networking opportunities and evening receptions. 2019 Factoring Speakers, Panels, Roundtable and More Speakers Erik Wahl - UNthink Simon Anderson - Recognizing the Technologies and Trends That Are Transforming Factoring and Techniques to Make Your Company Future-Ready Cynthia Hetherington, CFE - Searching in the Dark Web: Finding Fraud Online Brian Center - Factoring 101 Pedro Armada, CFE - Unique Challenge of Factoring in Latin America Matt Baker - Sales 101 Elliot … [Read more...]
5 Tips for a Successful Freight Broker Social Media Strategy
Having a strong social media presence is no longer an option for freight brokers; it is a need. Social media for B2B has become an essential method of marketing. It has its leverage in every industry you can think of. While the common B2B marketing tactics include email and website marketing, the power of social media should not be forgotten. It is a missed opportunity when B2B companies don’t take advantage of the perks that comes with social media. It’s a great way to get information out fast to your target audiences. With the proper digital marketing strategies, your business can assist prospects in researching purchase decisions, improve search engine optimization (SEO), generate leads and drive business. Social media platforms … [Read more...]
Best Video Marketing Practices for Factoring Companies
Being in the B2B finance industry, sometimes marketing ideas can feel limited. However, social media allows you to market to an audience creatively. With social media and mobile users increasing each year across all industries, it’s important for B2B companies, particularly those in the factoring world, to jump in and engage prospects. One way to reach a new audience, or keep in touch with your current one, is by creating videos. In fact, many marketers consider video as a leading form of lead generation. Even with all the numbers standing for video marketing, it can be hard to get started, especially for factoring companies. Here are some of the best video marketing practices to get your factoring business going. Step 1: Topic … [Read more...]
2018 International Factoring Association Conference
The 24th Annual Factoring Conference will be held at Fontainebleau in Miami Beach, Florida May 9 - 12, 2018! The event, brought to you by the International Factoring Association, features industry information from accredited speakers, expert panels and roundtable events, networking opportunities and evening receptions. 2018 Speakers, Panels, Roundtable and More Speakers Chef Jeff Henderson -Leadership Lessons from a Hustler Robert Stephens - Disruption, One Industry At A Time Michael "Bret" Hood - Using Verbal Statement Analysis to Detect Deception Brian Center - Factoring 101 Ian Varley - Niche Industries 101 Senator Joe Donnelly - Senate Viewpoint on the Regulation and Oversight of the Finance and Small Business … [Read more...]
10 Apps to Help A Factoring Business Stay Organized
Organization can easily slip through the cracks when you’re running a busy factoring business. Perhaps you’ve forgotten to email information to a recent prospect or you’ve missed an important conference call because you lost track of time. If you’ve ever found yourself sitting through piles of paperwork to locate a phone number or accidently throwing away something valuable, you’re not alone. Keeping your documents and to-dos organized may seem like a full-time job on its own, but it doesn’t have to be this way. Why? Because there’s an app for that. An endless variety of mobile apps are available to keep factoring brokers organized. From smartphone apps for note-taking to contact management and mileage tracking, there is bound to be a … [Read more...]
8 Email Marketing Tips For Factoring Brokers
8 Tips to Reach Your Prospects With Email Marketing For Factoring Brokers... It’s not easy to market to new factoring prospects. Many marketing tactics exist to effectively generate new leads including social media, blogging, paid advertising, direct mail and email marketing. While all of these strategies are effective and necessary forms of marketing, email marketing allows factoring brokers to reach prospects in seconds at a very low cost, with more personalization options. It’s an inexpensive and easy to use tool in your advertising arsenal. One of the greatest benefits to email marketing is personalization. It’s important to customize email messages to each prospect to increase open rates and responses. Factors can send … [Read more...]
Home Care is a Great Opportunity for the Factoring Industry
Don’t let the term medical receivable fool you. The rapid growth in home health care is creating opportunity in the factoring industry similar to traditional staffing. According to a (not surprising) 2010 AARP survey, 9 out of 10 older Americans said they’d rather be cared for in their homes than in a nursing home. As the baby boomer generation ages, Medicaid had to evolve to meet the needs of this large demographic. The Affordable Care Act (ACA) introduced a number of new incentives that made it possible for seniors and the developmentally disabled to receive care in the comfort of their homes, rather than moving into nursing home facilities. The ACA created new options and incentives to encourage states to provide home and … [Read more...]
10 Questions to Ask Before Signing a Factoring Contract
If you are considering factoring your receivables, you are probably already aware of its benefits. But other things are essential to know before you sign on the bottom line with a factoring firm. The most important is this: not every factoring firm is the same! Not only does every company have its own procedures and requirements, but some also have more experience in certain industries and factoring methods than others. Here is a list of questions you should ask before signing a factoring contract. 1. How many years has the company been in business? Over the years the factoring industry has grown considerably as more and more people realize factoring is an excellent method for increasing cash flow. However, with the increase in … [Read more...]