Is your business’s cashflow causing you to ask for pro-forma payments from your clients? Are you struggling to offer the same credit terms as your competitors? There is an alternative… through invoice finance.
Receive the cash you need whilst offering longer terms to your customers
Invoice finance will allow you to move away from asking payment in advance by providing you with the cash you need to cover the costs involved in completing a job. In addition to this, you can now offer credit terms to your clients without impacting on cashflow. Whether 30, 60 or 90 days, you can now use these payment terms to improve your competitive edge against any competition as you become the firm of choice in your industry. Invoice finance works by advancing credit terms so you have cash instantly when the invoice is raised. You receive around 80% of the cash value of the invoice raised to your customer within 24 hours so you can immediately reinvest the cash in the next upcoming job. Once the prearranged credit terms between you and you customer are up, the lender passes over the remaining value of the invoice which was not initially advance, minus fees. You now have the ability to offer competitive credit terms whilst securing a stronger cash flow. What’s more, you have a few options to decide upon when choosing a facility. Do you wish for invoice finance to remain confidential so you customer do not know you are using it? Do you want extra support included such as backend payroll support? Are you in the construction industry and rather have cash advanced against your uncertified applications for payment? These are all areas where we at Touch Financial can help… If you’d like to receive the peace of mind and the competitive edge invoice finance could bring, you can learn more for free, with a no obligation chat to a consultant at Touch Financial.