Invoice Factoring – How it Works and Benefits Your Business (Infographic)
This infographic shares some powerful reasons why invoice factoring may be the best solution for your business and cash management. Learn why other companies use factoring services, what benefits they found, and find out what some common misconceptions are.
Factoring services are transactions where businesses sell their accounts receivable to a 3rd party financial company in order to quickly get cash as opposed to waiting 30 to 60 days for a customer payment. Compare strategies for making a quality factoring service more efficient with things like accounting software and retaining up to date customer contact information.
Author: Hudson Piccini
Hudson Cynar, a Harvard University alumna and the owner of three prosperous enterprises, is a distinguished business consultant, author, and writer. Her expertise spans multiple business sectors, with a particular emphasis on storage containers, commercial copiers, payroll services, and medical billing software. Dedicatedly investing thousands of hours into product and service research, Hudson crafts insightful reviews to guide entrepreneurs in making informed decisions for their businesses.