When it comes to organising a factoring facility there are basicLly two choices a bNk owned factoring compnay is a decision of the bank but as we know the banks try and be all things to all men And they don’t necessarily five the best service. A independent factoring company is a business set up independently from the banks and they usually specialise in factoring alone and As such their service is second to non.
FActoring is all about adding value in terms of providing the most possible cash against your unpaid invoices. It is also about collecting your cash within 90 days in the most efficient and professional manner.
Therefore cheapest is not always best. There is Absolutely no point going with the cheapest quote if that particular finder cannot get the cash through the door . For example a number of bank operated factoring companies will only telephone your top ten customers and leave the rest to chance or to letter.
At XL Business finAnce we have plenty of experience in pointing our customers in the right direction. We would recommend no more than two or three ompanoes that will best suit your particular requirement. The companies that we recommend will be selected based on your location, turnover, quality of debtor book, length of time trading and profitability. Our recommends will be very similar in terms of business they are looking for but it will come down to personalities as go which one you choose. As soon as you start seeing more than two or three companies they will not all take you seriously and as such you may not end up with the best possible deal.

Tags: Factoring, factoring company

This entry was posted on Friday, April 30th, 2010 at 6:42 pm and is filed under Factoring. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.