In part one, we explained why non-recourse invoice factoring can be a powerful tool for your business. In this article, we discuss how a non-recourse factoring program can make your customers happy!
A good non-recourse program delivers three services: cash flow, credit services and accounts receivable management. All three provide direct benefit not just to you, but to your customers.
Cash Flow Services
Cash Flow: Invoice factoring clients receive up to 95% on factored receivables within 24 hours.
Ability to fill larger orders without delays: Your customers will have more confidence in your ability to fill high-volume requests, translating in trade discounts and better product planning.
Better product quality: Better cash flow always translates into better product quality. Your customers will consistently rank you at the top of their vendor list.
Less urgency for payment: By having reliable cash flow, you’ll eliminate frantic calls to your customers for payment. Customers will begin answering the phones again!
Less overall stress in customer relations: Improved cash flow means reduced stress overall. This means less screaming and more smiling.
Better customer service: By investing cash flow in customer support, you’ll deliver top quality service. This translates to more orders and more referrals.
Credit Services: Your non-recourse factoring company analyzes, manages, and guarantees credit on client customers.
Enhanced credit rating: Your customer’s good credit standing with the invoice factoring company will improved their published credit and reputation in the industry.
Better credit terms: By receiving competitive terms and higher credit limits, your customers will improve their own cash flow and bottom line.
Less hassle: You won’t be tying up your customer’s time with requests for bank, trade references, requests for financial statements, etc.
Account Receivable Management Services
Accounts Receivable Management: A full-service invoice factoring company will be your receivables back-office.
Efficient and organized: You and your customer will waste less time on errors and mixups, and have more time to do business together.
Professional staff: Your customers’ accounts payable manager will appreciate working with a professional staff representing your company.
Consider the benefits of non-recourse factoring – a win-win for you and your customers. Contact Riviera Finance to get a quote today.
Next up – Part Three: How to Make Your Suppliers Happy with Non-Recourse Factoring.