No more waiting for invoice collection

One of the biggest problems for small and micro business owners is the lack of liquidity. Even when a client is a regular payer, deferred payment is usually agreed upon, so entrepreneurs wait for payment for 30, and sometimes up to 60 days. This practice is slowly going to history, because it has recently become possible to cash in an invoice within just one day.

Few people know what factoring is. Although this service has been on our market for ten years, and it has been mainly provided by banks, it was not available to the owners of small and micro businesses.

Factoring is a service of the fast sale of invoices and it is very widespread everywhere in the world because it makes business easier for businessmen. This means that clients can use their money immediately, i.e. without waiting for a month or more to realize the payment of their invoices. This service can be used by companies that do business exclusively with legal entities, and the good news is that it can also be used by the agencies that pay lump-sum tax.

One of the best examples of how to cash in an invoice quickly and easily is the digital platform of the Instant Factoring company. On the company’s website www.instantfactoring.rs, every legal entity can create its account in 5 minutes and immediately send an invoice that it wants to cash in. When the validity of the invoice itself is checked, as well as the authenticity of the buyer, the businessman receives money within 24 hours.

Just like any financial service, this one also carries certain costs. Until now, banks have paid 80% of the value of the invoice to the owners of receivables for this type of collection. Instant Factoring, unlike banks, pays 100% of the money, which is minimally reduced for the service fee. For example, if your invoice to the customer is RSD 100,000, with the payment period of 30 days, you will be paid RSD 97,000.

Izvor: BIZLIfe

Foto: Pixels