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...]
Medical Staffing Invoice Funding – Tips For Managing Customer Fears
Many medical staffing business owners worry that their customers (hospitals, nursing homes, medical clinics, etc.) will misinterpret their decision to factor as a signal of financial instability. In reality, deciding to get medical staffing invoice funding help is an encouraging indication that your medical staffing business is stable, rapidly growing, and in high demand. To help alleviate your concerns and to educate your customers about medical staffing invoice funding, consider the following: … [Read more...]
How Medical Supplies Companies Benefit From Factoring
Now more than ever, medical supplies companies are looking for alternative financing sources. Banks are not approving loans like they used to and recurring cash flow challenges for medical supplies companies are not going away. Medical supplies factoring has been evaluated in the past, but this alternative financing option is becoming a popular and convenient solution to cash flow problems. … [Read more...]
Factoring Medical Billing Companies – Frequently Asked Questions
A lot of questions can come up when a business owner starts researching medical billing funding solutions - the idea of selling their invoices to a factor or medical billing funding agency. This article addresses some of the more frequently asked questions … [Read more...]
Factoring Training: Social Media and Small Business
Whether you are in the factoring business or cater to another industry, without customers your chance of survival is basically nil. The cornerstone of any business consists of … [Read more...]
Healthcare Staffing Funding – Bank Loan or Accounts Receivable Factoring?
When prospective healthcare staffing businesses compare factoring fees to bank lending rates, factoring almost always seems more expensive. Oftentimes, factoring prospects annualize the percentage charged by factors, extrapolating three percent per month to an interest rate of 36 percent per year. In the world of healthcare staffing financing, this scenario is like comparing apples to oranges. … [Read more...]
Factoring – How Medical Billing Companies Can Avoid the Double Credit Crunch
In this economy, many service-oriented small businesses are struggling to obtain cash on two fronts - (1) Acquiring or extending a line of credit and (2) Getting their customers to pay in a timely manner. Outsourced medical billing providers are just one type of business that is being affected by the "double credit crunch." On the one hand, banks have … [Read more...]