Do you need to unlock the value in unpaid invoices? If so, invoice discounting could be for you. With invoice discounting, you borrow money against invoices which are yet to be paid and settle up once payment has been sent to you. You can usually expect to receive the cash you need to borrow within as little as 24-48 hours. There are many reputable and reliable invoice finance companies on the market who can assist you if you do need to raise cash using these methods. Invoice financing can give you the cash flow boost you need, help you settle debts and allow you to take advantage of any investment opportunities that have been presented to you.
Weighing up your options
Invoice discounting could be for you if you don’t want your client to know you’ve used an invoice finance company. It could also be ideal if you have a good relationship with the client, don’t mind chasing up the payment yourself and expect to trade with the client in future. If you’ve struggled to get the invoice paid, and it has become overdue, you don’t think you’ll be selling products or services to the company in question in the future or would rather free up time and resources to focus on other duties, invoice factoring could be a better option.
Get the right deal for you
With invoice factoring, you sell your invoice to a financier who then chases up the payment themselves. A rising number of companies are now generating the finances they need to keep business moving via invoice factoring and discounting. Why not speak to a number of invoice finance companies to see what they have to offer if you are interested in factoring or discounting but wish to come to an informed decision?