Time is money – this statement, still persisting in business has two sides. Many enterprises currently experience badly the prolonged repayment deadlines of their invoices. They are waiting longer and longer for their money, thus, they more often think about making use of a factoring service which helps to reduce negative consequences of payment jams. By contrast, entrepreneurs wait a very short time for factoring, at least in our company. Hundreds of documents and many formalities? That belongs to the past. We do not need much time to get factoring and its later handling will be limited only to some non-committal activities.
The first contact with our specialists will show the standard we prefer in our cooperation. It may be summarised in three words: simple, fast and effective. A potential customer sends all documents required to get a decision on granting the funds by electronic mail and the documents are verified are most frequently on the day on contract signing. Only 48 hours are needed since the moment a set of required documents is sent to the decision on granting the factoring limit.
Similarly, some time ago we resigned from demanding paper documents to be sent by the entrepreneurs, either their own or those issued by their customers. There are publicly available databases in the internet that enable us to safely verify correct representation of companies or other parameters identifying a given entity, regardless of its legal form. In many cases, we only need declarations from our customers, thanks to which they save time needed to get the documents most often required by banks, e.g. certificates of no arrears in public and legal charges from the Social Insurance Institution or Tax Office.
Further handling of the factoring services also requires, as a matter of fact, only access to the Internet. A factorer may virtually get all the information 24h a day, through an on-line system, where it can check payments from its customers or the amount of funds available towards invoices it has previously introduced to the system.
Consequently, either the procedure of granting the factoring or the control over its further course will not give rise to additional duties, even if so – they will be incommensurate to the benefits gained.
Published on: 14 November 2016