While factoring is a valuable source of working capital for businesses it is also an excellent way of reducing the administration burden a business owner can face. By outsourcing the credit control function you are putting it in the hands of the professionals.
Factoring companies have systems that can easily send out reminder letters and end of month statements. Combine this with their experience in collecting in debts and you will probably agree they are well placed to provide your credit control.
It is however worth noting that different companies operate in a very different way. Some will only send out letters and statements, others will telephone your largest debtors and others will chase every single invoice that becomes overdue by telephone. It is important to understand this when comparing any quote.
Ask yourself what type of service you really want and whether or not that represents good value?
By outsourcing the credit control it frees up more time for you to do what you do best which is growing your business.
Welcome to the Invoice Factoring Quotes Blog. We aim to provide up to date topical information to business owners who are looking for an invoice finance facility.
