Invoice Factoring

Don’t let slow-paying customers slow your business down.

Miami, Florida

Understanding invoice factoring

Invoice factoring is a type of invoice financing in which a company sells its unpaid invoices (accounts receivable) to a third-party factoring company (factor) in order to gain urgent cash flow to match its business requirements.

Factoring companies buy your invoices at a percentage and provides you the invoiced amount immediately, and collects the payment later, directly from your clients. Invoice factoring is also termed receivable factoring and debt factoring.

Factoring in detail

As mentioned earlier, when a third party factoring company buys your company’s invoices at a fixed percentage, it is referred to as factoring. Since many clients take a longer time than expected to pay their dues, factoring helps your business with regular cash requirements and to maintain its growth and performance.

Selecting the number of invoices to be factored in completely depends upon the company. Some companies even factor in all their invoices, while some prefer to factor only those invoices that are consistently paid later.

Scale your work!

Invoice factoring is used to fulfill a company’s cash requirements in order to pay its staff, take new orders from clients, and work on the previous or pending orders as a company keeps matching and satisfying its customer’s expectations and demands, its reputation, and value increase in the market. More and more customers start getting attracted to the company, which helps to scale the sales and revenue.

One of the best advantages of factoring is that you instantly get the cash on your invoice. The factor takes the responsibility of collecting the payments from your customers on your behalf.

Reliable Pricing

We bring you the best services and products at the most reasonable price guaranteeing price deals that you will not find anywhere else. Investing in our services will never make you feel regret for even a single moment.

Fastest Support

We are at the service of our customers all day and night irrespective of the time, and whenever you need any support with business funding or financial factoring, we are just a call away.

Best Experience

With competitive pricing, quality services, and a robust support system, you get the best factoring experience when you choose us. At Factoring compass, we formulate quick solutions to all or any invoicing problem you may face.
Invoices are rapidly and easily factored in invoice factoring. In some cases, factoring companies provide 100% payment on your invoices.

Our invoice factoring services

Being one of the best factoring companies, our factoring services extend to several industries. Some of the factoring services we provide includes:

Authentication of invoices

Every document provided to us, like invoices, bills, financial documents, etc., is cross-checked and verified. Each document is properly analyzed so that there is no chance of any error or threat in the future. This may be a reason for delayed payments.

Invoice data entry

Every bill received by us is carefully examined and verified before it is entered into our system. After verification, the next step is to enter the data in our invoice discounting software, which makes it easily accessible and can also be analyzed in a proper way. All the data is safe as it is protected by a password and is sent to you in the format you like.

Invoice factoring

We take care of your unpaid invoices on your behalf. When you sell your invoices to us, you get instant funding to run your business smoothly. We serve both recourse and non-recourse invoice factoring. We also provide a reasonable and attractive value for your invoices.

Staffing factoring

This type of invoice factoring is also known as payroll factoring. It helps convert your unpaid invoices into instant money, which can help you to manage services and overcome the problems arisen due to irregular cash flow. Generally, we provide this particular service to new start-ups, IT, and many more industries.

Invoice discounting

The discount provided at the unpaid invoices is kept confidential. When it comes to invoice factoring, one of the major things to keep in mind is that a factoring company never discloses personal data.

Quality checks

Our group looks at whether all work is conducted according to the concurred quality principles or not. We guarantee that all game plans of documents and records are secure, simple to draw out, and legitimately positioned.

Data repository

We have an efficient database system in which all the data is stored safe and secure. We maintain an electronic record of all data your company has provided, and it can also be retrieved whenever needed. Furthermore, we offer you an analysis of your customers based on their payment cycles, which can allow you to run your business accordingly.

Advantages of factoring

Immediate cash flow

Invoices are paid almost instantly, and in most cases, within 24 hours.

Keeps companies running

Many businesses fail due to poor cash flow. But factoring helps a business to survive even in the most difficult times.

Cheaper than a bank loan

Invoice factoring is much cheaper and easier to get than a bank loan. This makes factoring a good option for urgent business fundings.

Reduces the workload of staff

Since factoring is responsible for collecting payments from your clients, your staff doesn’t need to look for small payments and get stressed.

What companies use factoring?

Organizations utilize the services of factoring companies to ease their cash flow. From single-individual and small to midsize businesses to around 500 enterprises, several businesses utilize factoring services.

Factoring costs

For each invoice you sell to a factor, you get instant cash as a factoring agency factor invoices for you.

Factoring types

Factoring companies offer two types of factoring services: recourse and non-recourse invoice factoring.

How does invoice factoring work?

Basically, invoice factoring works on two major concepts that include – the factoring cost and types of invoice factoring. The factoring cost or the money received from the third party factoring company is based on every single customer invoice. The more invoices a company sells, the larger the amount that is received. Secondly, there are two types of invoice factoring – recourse and non-recourse factoring.

Steps involved in invoice factoring are:

  • Raising invoice: Businesses raise customer invoices for the services rendered by them.
  • Factoring: The invoices are sold to factoring companies that pay you the invoiced amount immediately. Sometimes, the payment is 100% of the value of the invoices.
  • Credit checks: The factory company checks the creditworthiness of the customers (for whom the invoices are raised) before making the payment.
  • Collection: Factoring companies collect the invoice payment from the customers.

Our mission

Our mission is to help you meet all your monthly commitments by streamlining cash flow through our invoice factoring services.