Our relationship with Accelerated Payments allows for invoice Factoring done differently. In our last blog we talked about our new relationship with Accelerated Payments.Factoring is when a business sells their accounts receivables to a third part at discount. Invoice factoring has been around for years but hasn’t advanced much on the processes that are used by factoring companies.
Accelerated Payments does invoice factoring differently:
No personal guarantees: Accelerated Payments does not require a personal guarantee from the business owner. They are able to truly leverage your customers balance sheet and credit worthiness. This not only provides peace of mind for the entrepreneur, but also allows for them to deal with traditional financial institutions that require personal guarantees.
Leverage technology: Accelerated Payments leverages OnePosting to deliver invoices to the customer. Customers can approve digitally, thus kicking off the funding process.
Less disruption for your clients: They make the approval of invoices, banking information, and delivery of invoices easy for you and your customer.
More choice: Clients can pick and choose which invoices they decide to finance. This allows choice and flexibility in using Accelerated Payments. The technology that helps to drive this is built on OnePosting.
Transparency and reporting: Accelerated Payments provides an on-line portal that allows the client to understand what invoices are financed and where they are with being paid to Accelerated Payments. This is an on demand feature that gives the control and transparency to the customer.
Competitive rates: Accelerated Payments can offer very competitive rates by helping to drive down the administration costs based on OnePosting and our processes.
To find out if Accelerated Payments is right for your organization visiting them online.