Business Owners Access Capital Here

Unlock business capital trapped in your Accounts Receivable Invoices. Don’t wait 30, 45 or even 90 days, get paid for your outstanding invoices as soon as today!

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How?

Go to Factor bid – where you’ll get a few offers from factor finance companies to buy your accounts receivable invoices for immediate cash. Factors compete for the opportunity to buy your invoices, and within an hour of submitting an open invoice, you’ll receive a few offers from the top factor finance companies to buy your invoices.

In More Depth -WHAT IS INVOICE FACTORING for Small Business Owners?

When a business creates the option for a customer to pay later or on terms, it’s known as (invoicing) – Accounts Receivable Invoicing.  Accounts Receivable is a legitimate form of revenue for all businesses and is listed as an asset in the company’s balance sheet.

Why would a company agree to allow a customer to pay on terms and at a later date rather than COD (cash on deliver) or even up front, out of pocket?

The idea behind offering your customers the ability to pay on terms is;

  1. Customers today demand flexibility.  If a business does not have the ability to be flexible- they risk losing sales to competitors in their industry.
  2. Offering terms through invoicing enables the business owner to finalize the sale-agreement rather than allowing the customer to walk out the door to another business.
  3. Customers typically buy more (of whatever it is you offer), when they have more time to pay.  

As such many business owners understand that their Accounts Receivable Invoices are a promise from a customer to pay at a later date and time.  Yet many business owners have little of no idea the same Accounts Receivable Invoices are in high demand by third parties (called factors) that are interested in purchasing invoices (at a discount) for immediate capital.  In many cases cash is made available to the business owner selling their invoices, within 24-48 hours.  This practice of purchasing a company’s Accounts Receivable invoices at a discount is known as Invoice Factoring.

BENEFITS OF INVOICE FACTORING include but are not limited to:

  1. The ability for a business to acquire cash (capital) quickly to be used for necessary expenses.  Often times small businesses need immediate cash flow to assist in keeping the doors open until they build up a stockpile of available cash flow
  2. The means of using invoice factoring to generate capital is more attractive than applying for a loan at the bank which can require time and high risk contracts.
  3. Invoice financing (factoring) is considered an asset, and does not add any additional debt to your company books.
  4.  Factor finance companies can also assist your business in the accounts receivable collection process, including back end office and bookkeeping help.
  5. Factors can provide access to credit checking of new potential customers you’re thinking about working with, to help reduce your liability in working with bad companies that may not pay their bills on time. 

Before now – locating a factor finance company that specializes in and even services your industry –as well as getting the best deal when factoring our receivables was extremely difficult; leaving business owners thinking, ‘Did I get a fair deal when signing on with my new factor finance company.. ?’

But today, locating a factor finance partner has gotten much easier, a lot faster and more convenient; not to mention being able to get a few competitive offers to make sure you’re getting the best deal when factoring.

Tell Me How?

FACTOR BID quickly matches your business with the top factor finance companies in your specific business industry, providing you multiple offers from competing factors, eager to earn your business and buy your open accounts receivable invoices for immediate cash!

When factoring companies compete to win your Accounts Receivable Invoices- you get the knowledge you need to negotiate the best deal when factoring.  You’re under no obligation at any time to factor and the cost to use factor bid is free and may result in an immediate increase in your business cash flow on hand, in which you can use for whatever you want. 

Are You Ready?

Access working business capital today that’s sitting around on your desk or stuck in your online accounting software (in the form of open invoices).  Your open invoices are an asset – start treating them as so! Get paid as soon as today! Factor bid

On the Go? Get Factor App and submit your invoices from your Smartphone!

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When your business partners with a factor to finance your accounts receivables, your customers are most likely already familiar with factor financing.

Factor finance has been around for thousands of years! When you partner with a factor to finance your receivables, your customers are most likely already familiar with factor financing.

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Invoice factoring creates capital on invoices already billed or outstanding invoices. Financing your receivable invoices increases your immediate cash flow and can help with covering day-to-day expenditures like, fuel, maintenance, payroll, purchasing of supplies and even investments to keep your business competitive in your industry.

With factor invoice financing your business will have predictable cash flow to purchase additional inventory, maintain employee costs and even earn vendor discounts. Factoring can be a short term or long term solution for assisting business growth. Don’t turn down new customers and business growth because you’re afraid you may not have enough cash on hand to pay the bills.

Invoice factoring creates capital on invoices already billed. You’re not borrowing money (like with a bank loan) that you haven’t earned yet. When you inform your customers you are partnering with a firm to handle your accounts receivables, the customer is most likely already familiar with factoring and treat it as normal course of business.

If you’re tired of waiting 30-90 days to get paid, then use Factor.bid to submit an invoice and let the top factors compete to earn your business and buy your outstanding open invoices for immediate cash!

Don’t make factoring harder than it is. Use Factor bid to help you get the leverage you need to negotiate the best deal when factoring!

Download Factor App for your mobile devices and find the top factor in your industry for free!

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for Apple Smartphones

for Android Smartphones

The International Factoring Association (IFA) Annual Factor Finance Conference 2016 Fairmont Princess Factor Bid Exhibitor Scottsdale, AZ

The International Factoring Association (IFA) Annual Factor Finance Conference 2016 Fairmont Princess Scottsdale, AZ 85255 Factor Bid Exhibitor booth #3

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Factors (factor finance companies) -are you attending the IFA 2016 annual factoring conference? Stop by and meet the team behind Factor.bid – Accounts receivable invoice marketplace. Find out how you can get new invoice finance customers every day, right in your inbox. Simple, Smart Factor Finance Customer Acquisition Strategy.

Address: Fairmont Scottsdale Princess,7575 E Princess Dr, Scottsdale, AZ 85255 -Thursday April 14 – Friday April 15

Grow your Factoring business today with Factor.bid

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The best way to collect on your open accounts receivable invoices

Collecting on unpaid invoices can be one of the most tedious tasks in running a business. If you’ve got open accounts receivable invoices and slow-paying customers, you’re probably faced with a cash crunch within your organization.

There is a sense of accomplishment and pride when you invoice a customer. The feeling that you’ve done your job and delivered on what you promised. But how do you add a sense of urgency to your invoice collection process, and get customers to pay on-time or even a little early?

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Collections should be seen as one of the most important functions in your business, second only to client services. Spending time in collecting open invoices brings in much needed cash your business uses to pay bills, cover payroll, hire more employees and stay competitive in your industry. Without a good collection plan in place, outstanding invoices will pile up and may even force your company out of business.

factor app,factor finance,factor bid,invoice finance,invoice factoring,accounts receivable finance,receivable finance,asset lendingSo what’s the best way to collect on those slow pay or open invoices? First off we need to start with a collection system. A system that helps with vetting potential new customers and even existing customers you’re working with today!

DESIGN & IMPLEMENT A SMART COLLECTION SYSTEM

Step 1  -Avoid bad paying clients by checking their credit and payment history. Before agreeing to offer a net 30 payment plan to a client, check their recent and previous payment activity.

Commercial credit reports are inexpensive and can be purchased quickly from companies such as Experian, Dun & Bradstreet and Ansonia. These reporting companies offer assistance and can even help with establishing a suggested credit line.

Once you’ve established they are credit worthy, establish a good follow-up process to make sure you’re always in front of any potential future issues.

Step 2 -Use the correct contracts for your business. Every sale you make should be governed by contract.  Contracts should be designed by an attorney and should outline deliverables, time frames, how any dispute may be handled and payment terms and expectations.

You need to have it writing! The contract must outline when payment is due and what expectations are required to earn such payment. If you’re offering terms and you don’t have your agreement in writing, you’ll have little recourse if legal action is required.

Step 3 -Use a delivery acceptance letter for services rendered. The letter should state the work has been completed and/or products have been delivered to the client’s satisfaction! The client should sign the acceptance letter to verify their satisfied with your work.

An acceptance letter will help you identify any potential issues between you and you client at time of delivery. If your clients does not want to sign the acceptance letter, then you have a big problem. It’s better to know there is a problem immediately, in hopes that you can fix the problem right away and get back to business as usual in the days ahead.

The acceptance letter may also come in handy at a later date, in the event you have to send your customer to collections for non-payment. Remember the objective to having an acceptance letter, is to prevent collection problems from happening in the first place.

Step 4 -Send the Invoice and job paperwork promptly. As soon as the work is completed, send an invoice and any related paperwork that is needed to supports the invoice. For example the acceptance letter would be a smart supporting document that you could include when sending the invoice for payment.

Follow the payment proceedings outlined in the agreed contract. If your client requires open invoices to be sent to their accounts payable department, with a copy to the owner or project manager (or someone else), do so. Not following the payment clause listed in the contract my cause payment delays.

Step 5 -Follow up! It’s always a good idea to follow up with clients on a regular basis. On the same day you’ve sent the invoice out for payment, follow up to make sure the client has received your request along with all of the necessary documentation they need to close and pay the invoice.

fast cash, immediate cash flow,invoice finance,debtor finance,accounts receivables,factor app,factor bid,get best deal when factoring,invoice factoringLATE PAY OR PAST DUE INVOICES -Once an invoice is 5 days past due, pick up the telephone and call the client to see what the issue is. Follow up the call with an email about what you and the client talked about on the phone and ask for their confirmation in the email. Make sure you’re both on the same page and have come to a conclusion, so you can get paid.

If there was no issue and the client is simply behind, make sure and secure a new payment date. Lock it in and send that new payment date in the follow up email as well.

If the payment date is missed for a second time, wait a few days and repeat the above process. If the client misses multiple payment dates, then you may need to submit to collections.

It’s important that you always remain professional and treat your clients with respect. You will have better luck collecting slow-paying invoices by remaining professional and keeping your composure throughout.

KNOW WHEN TO USE OUTSIDE HELP -There is always a chance some clients will not pay. In this case you may need to hire an attorney or start working with a collections agency. These methods can be expensive and take time away from running your current business operations. Dealing with past due and unpaid invoices as well as collection issues distract you from focusing on business growth. You may need a professional third party to help handle it with you and their best interests in mind.

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Factor App – Invoice Factor Finance

PROFESSIONAL THIRD PARTY -Factor finance companies can help in designing and implementing a smart collection system. In some cases a Factor can become an intricate part of your back office. Why would they do this you may wonder? Because when a Factor is providing you up-front cash flow for your open invoices, they want to make sure the invoice is paid on time and no additional collections are needed.

Factors can help with quick credit checks, providing payment history and a good risk assessment of the customer. A Factors recommendations may even prevent you from having bad customers, and allow you to focus on growing your business as quickly as possible. It’s always nice to have a reserve of cash you can tap at a moments notice.

Factors have been collecting payment on invoices for years and know what to look for in customers that pay slow or have some type of issue in making payment. There experience may lend some solutions that you may not have thought of.

So if you’re looking for some back end office assistance in collecting your accounts receivable invoices and need more cash flow to grow your business, cover expenditures and make payroll; use Factor.bid to match your business with the right factoring company today.

Factor.bid -enables you to shop your open invoices. Factors compete for the opportunity to earn your business and buy your accounts receivable invoices for immediate cash.

Factor.bid is free to use and is an essential part of deciding which Factor is right for your business. Which factor can provide the correct financing for the industry that your business services. Not all Factors are the same. Make sure you’re getting competitive bids to buy your invoices.

Check out www.Factor.bid for back end office support when designing and implementing your accounts receivable collection system and get paid for your open invoices as soon as today.

What is Accounts Receivable A/R discount finance and how can it help your business outperform your competition?

Outstanding and/or ‘open invoices’ represent invoices that have been sent out to a client for payment, but have not yet been satisfied/paid by the client. These invoices can be financed or A/R discounted for less than the face value to quickly raise capital and increase cash flow.

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The buyer of the A/R Invoices also know as the (factor) purchases the financial obligation at a discounted rate providing the selling firm (that’s you) with immediate cash. The factor now assumes responsibility in collecting the money owned by the original debtor (or the company you originally provided your product or services for.)

The invoice is sold at a discount, which is typically 85-90 percent of face value. The Factor requires a percentage of the invoice remains in reserve in order to reduce their total risk, in assuming responsibility for collecting the outstanding debt. Once the debt is collected by the Factor, you’ll receive the reserve amount of the invoice or the percent that was held back -minus any service fees.

Here is just one example of the fee scale from one small factoring company. Every Factor is different and you should use Factor.bid to shop your open invoices for the best deal when factoring.

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If this fee structure seems high, what is the costs of not factoring?

The Costs of not Factoring:

  1. Time value of money
  2. Benefit of improved cash flow
  3. Cash within 24 hours
  4. Pay Suppliers faster
  5. Receive discounts from suppliers
  6. Make payroll without using personal finances
  7. Offer longer terms to larger customers
  8. Attract more business
  9. Business growth without incurring more debt at your bank
  10. Lowers your business liability / risk in collecting payments

Will the financial benefit of improved cash flow to your business offset the fees associated with Factoring, And then some? In many cases Factoring is a smart business decision and can aid your company in growth and new found business opportunity.

 

Staffing Companies can cover expenses with Payroll Funding

Need Payroll funding for your Staffing Company. We can help! Factor App has hundreds of Factors looking to finance your accounts receivable invoices. You submit your Accounts Receivable Invoices using Factor App and within minutes you’ll have 3 highly respected and trusted Factors competing for your business and to Factor your accounts receivable Staffing Invoices.

We understand that making payroll is the most important task for any successful and growing staffing agency. Helps retain high quality talent by offering good salaries and always paying on time. Could you imagine what may happen to the trust between you and your staff if you missed payroll.

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As a fail safe, you should be set up with a Factor incase one or more of your customers have slow paying invoices.

Making payroll remains a serious problem for staffing agencies. In most cases, payroll problems stem from slow pay clients waiting 30-60 days to pay their invoices. When your client pays you in 30-60 days, and you have to pay your employees every two weeks, you’ve now become the lender, plus you’re holding all of the liability.

SOLUTION:

Finance your payroll with invoice factoring – Invoice factoring solves the problem of slow paying customers and decreases liability on your open invoices. Get immediate funds you need to cover payroll, pay for business expenses and grow your business marketshare.

Transactions are fairly simple. Once you’re set up with a factoring account with the Payroll Factor Funding Company, you submit an invoice along with a copy of the time cards (or similar). When they have your invoices, the payroll factor finance company advances 90-95 percent of the invoices and deposits the funds into your company bank account. Problem solved, you now have plenty of cash to cover payroll weekly or bi-weekly.

Once your client pays in full, the factor funding company settles the transaction by depositing the remaining percentage of the invoice, less their fee.

The cost of factoring varies and on average is between 1.5-3.5 percent per month based on your sales volume and of course the credit worthiness of your invoices.  Setting up your account with a factor is easy and usually takes just a few days. Most companies today factor their invoices regularly to improve their cash flow and business practices.

Make sure you’re getting a few offers for your receivables when you’re ready to start Factoring. Download Factor App and snap a picture of an open invoice you need to factor and within minutes you’ll have trust worth and industry specific Factors competing to buy your invoices. Get the best deal when factoring, make Factors compete for your business!

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Android Factor App

Apple Factor App

Why now? Factor App for AR Financing and the more money for your Receivables when Factoring!

Why now – Factor App

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Technology is turning workflow and processes in the financial services industry upside down. Tasks once handled with paper money, bulky computers, and human interaction are now being completed entirely on digital interfaces.

Given how financial services are spreading widely throughout the world, the disruption opportunity for fintech startups is huge.

Almost every type of financial activity — from banking to payments to wealth management and more — is being re-imagined by startups. Meanwhile, the traditional Corporate financial sector is trying to solve a puzzle presented by the fintech revolution: How can they benefit from the rise of digital, and how can they avoid becoming obsolete?

Describe Fintech:

  • Fintech — financial technology — is an umbrella term describing disruptive technologies in financial services. Fintech has transformed the way money is managed. It affects almost every financial activity, from banking to payments to wealth management. Startups are re-imagining financial services processes, while incumbent financial services firms are following suit with new products of their own.

If you need immediate CASH FLOW for your business, download Factor App today and start Factoring your Accounts Receivable Invoices for Immediate Cash.

  • Reduce Liability
  • Increase Cash Flow
  • Get Paid as Soon as Today!

for iPhone – https://itunes.apple.com/us/app/factor-app/id986225387?ls=1&mt=8 (download link)

for Android – https://play.google.com/store/apps/details?id=com.factor.bid           (download link)

Why Choose Factor App? Because one Factor does not fit all!

As a business owner, being able to choose who you work with is important. People are different and sometimes won’t see eye to eye.  That is why we created Factor App!

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If you’re thinking about Factoring your accounts receivable invoices, shouldn’t you get to pick and choose who you’re work with? I mean we’re talking about your business and most important your Money!

Factor App – is the fastest and easiest way to Factor your receivables.

1.) Snap a picture of your Invoice

2.) Tell us the amount of the invoice

3.) Submit invoice

Factors COMPETE to buy your invoices, so you get the best deal and most money when Factoring.

Factor App is a simple and FREE way to Vet New Factors, to see which business style most closely matches your way of doing business. Take advantage of Factor App now and get paid as soon as today for your accounts receivable invoices.

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“Having influence over your important decisions, makes the business – well, yours.”

Mobile Growth Summit 2016 San Francisco California Feb 17 & 18

Are you focused on mobile tech? Check out the Mobile Growth Summit, February 17 – 18 in San Francisco, CA.

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Watch – Youtube (Mobile Growth Summit) video

Say hi, Factor App is attending!

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2016 TOPICS INCLUDE:

Running A Successful App Business
Growth Hacking
App Store Optimization (ASO)
Paid Mobile User Acquisition in 2016
25 Mobile SEO Hacks
Leveraging Mobile Web
Building Better Customer Relationships
Trends in Influencer Marketing
Messaging Apps & Growth Opportunities
3 Ways to Drive Down Your Uninstall Rates
Monetization
Expert Mobile Predictions for 2016
Special Ad Mediation Hot Seat!

VENUE

Mission Bay Conference Center
1675 Owens St, #251
San Francisco, CA 94158

 

Turn Bill of Lading, Invoices and Pick-up Orders into immediate CASH

Download Factor App

Factor your receivable invoices, bill of lading and/or pick-up orders.

Factor App makes factoring fast and easy!

BONUS:

When Factors compete to buy your invoices, you get more money! Try Factor App today!

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Download Factor App

for Android – https://play.google.com/store/apps/details?id=com.factor.bid

for iPhone – https://itunes.apple.com/us/app/factor-app/id986225387?ls=1&mt=8