For businesses of all sizes, a lag in payment from customers can cause a severe strain on cash flow. Companies that have open invoices with aging periods of 30 days or longer will sometimes see payment remittance of one month, at best. Others have to resort to collection services, which can further delay payments. Instead of playing the waiting game, smart business owners are monetizing invoices to ensure fast payment.
Monetizing Invoices: An Overview
When monetizing invoices, a business uses AR financing, or factoring services. This gives businesses the power to exchange their open invoices for immediate working capital (within 24 hours). Additionally, businesses using these services are monetizing invoices as they are generated. This completely eliminates the lag in customer payments and keeps business finances on track.
This Is Not A Loan
One of the great things about monetizing invoices is that it is not a loan. There is no debt placed on the balance sheets. No credit checks run on your business. No red tape. Qualifying applicants can begin offloading their backlog of open invoices, and get the payment they are owed. No longer will they have to send out friendly reminders of unpaid balances to customers. Nor will they have to resort to collection agencies. Monetizing invoices is a simple sale on receivables, which expedites accounts receivable to ensure a healthy cash flow.
Enjoy Streamlined Accounting
By monetizing invoices, a lot of the burden is lifted off of the accounting department. Instead of tracking payments from multiple customer accounts, all revenue will come in from a centralized source. This allows the accounting department to focus on budgeting and forecasting – planning for business growth, rather than hunting down every dollar owed to your business.
Get Started Today
Eagle Business Credit has the capital resources to help businesses monetize their invoices, regardless of volume or amount owed. We will work with you directly to set up factoring services so your business can get out from under all of your unpaid customer invoices, and get your receivables in order. We provide the quickest turnaround on submitted invoices, so your business can thrive and grow fro the influx of revenue. Contact us today to get started, so you can breathe easier with a strong and steady cash flow.