What Sets the Best Invoice Factoring Companies Apart?
There are many small details which set the best invoice factoring companies apart — small details that turn into big advantages when you choose to work with one of the best invoice factoring companies. These are all the same details we incorporate into our invoice factoring program so that we can help our clients grow more quickly.
The best invoice factoring companies have transparent fee structures.
Some invoice factoring companies seem to offer a low factoring fee on the surface; however, when additional fees (application fees, funding and notification fees, account handing and scheduled processing fees, etc.) are tallied up, the cost of factoring invoices with these companies is actually much higher. We can help you find factoring companies that never tack on hidden fees, where the factoring fee will be your all-in cost when factoring.
The best invoice factoring companies offer competitive fees and high advances.
Organizations that factor invoices usually do so in order to free up working capital by expediting – or speeding up – business cash flow. High factoring fees, large reserve amounts held back and low advance rates can all reduce the benefits of invoice factoring. We can help you find factoring companies that offer competitive factoring fees and high advances so you can grow your business more quickly.
The best invoice factoring companies provide professional customer service and knowledgeable account managers.
Invoice factoring companies with poor customer service can have a negative effect on your business, since they will be interacting with your customers, too. Having a knowledgeable account manager means that you will be working with someone who will be held accountable to providing a high level of customer service. We can help you find factoring companies that provide great customer care, with knowledgeable account managers. Dedicated account managers who deliver great customer care will service your account based on your preferences and strive to learn more about the unique needs of a your business, in part, to make sure you’re getting the maximum benefits from factoring.
The best invoice factoring companies don’t require long term contracts or hidden fees.
When a factoring company is truly delivering when it comes to low fees, high advances, fast funding and professional customer service, they become a true financing partner who is invested in earning repeat business and referrals. Locking clients in to long term contracts or requiring clients to factor a monthly minimum amount of customer invoices may not be what is best for their business. We can help you find factoring companies that let you retain control of when to factor and operate transparently, so you won’t be surprised with hidden fees or penalties.