Can accounts receivable factoring save my company money?
Yes, although there is a cost involved, for many businesses the small fee paid for factoring is often less than the saving benefits factoring provides. Some of these savings include:
- having the cash to avoid late penalties for bills overdue
- having the cash to make early payment or bulk purchase discounts from vendors
- avoid fees charged when paying for supplies with credit cards
- avoid labour costs for checking credit scores and chasing receivables
- avoid the costs of a tarnished credit score
Additionally, Accutrac Capital provides supplementary cost saving services such as Fuel Discounts and discounted Currency Exchange to further benefit your bottom line.