Prefer to talk to someone first? Call 587-470-6088 to get your questions answered right away!
Why Ignoring Building Products & Technologies in Alberta Will Cost You Time & Sales
Canada is the second-largest country in the world and has been endowed with an abundance of forests. This has created the foundation for Western Canadian wood building products. The nation is also attempting to lead the world with sustainable, green technologies.
Technology moves at the speed of light. If you do not keep your building products up-to-date, then you might find yourself behind the eight ball. Learn how the top Western Canadian building products firms are getting the capital, they need to grow.
Building Products & Technologies
The Alberta building products industry has more than 1,200 listed companies that employ more than 33,000 workers. These businesses are experts in cold-weather construction and leading-edge green technologies.
With annual revenues of more than $8.7 billion and exports worth $1.6 billion, Alberta, Canada is leading the world in Green Building Technologies and Building Information Modeling (BIM). These eco-friendly building products and technologies include the following:
Builders can use cutting-edge technologies to create more energy-efficient structures. Heating and cooling costs are dramatically reduced, resulting in lower utility bills. Recycled tires are used for roofing shingles. Individuals, construction firms and the community benefit from these sustainable building technologies.
Nowadays, robotics have revolutionized the way that businesses manufacture their products. Western Canadian businesses might need to compete with international companies. By upgrading their manufacturing facilities, they can lower their costs, dramatically.
Faster assembly lines allow you to manufacture more products in a shorter amount of time. Robotics is boosting productivity in Canada and all around the world. The Canadian firm, Etalex installed Japanese FANUC robots in 2004 to boost production.
Some of the manufacturing processes are tedious and can be hazardous for humans. The Etalex FANUC robots perform “assembly, spot welding, cutting with plasma and palletizing" tasks, says plant engineer Jean Francois Rousseau. "According to proponents, robots will make North American manufacturers more productive and therefore more competitive against off-shore companies."
Most businesses will allow their customers to pay in 30-, 60- or 90-day increments. While this is the industry standard, it can slow down your cash flow. Modern accounts receivable accounting gives you access to capital at the speed of business.
With the non-traditional accounts receivable method, you can get cash, immediately. Your customers are happy. And you are happy because you have the money you need to grow your business, in your hands immediately.
Sometimes, small Calgary, Edmonton, and Fort McMurray businesses might not enjoy the long history, asset base or credit rating of the large multinational corporations. Nevertheless, these small companies still need capital.
Small businesses have a more even playing ground with alternative financing. This allows them to compete with the big boys. Invoice factoring helps them solve cash flow problems.
While large banks might not give you an answer for 8 weeks, some of the top alternative lenders will give you an answer within 8 hours. They give you access to cash fast. They understand the speed of Western Canada businesses.
Cash to Grow Business
Has there been any equipment that you could not purchase due to cash flow problems? Do you have plenty of promises in your accounts receivable stack? Would you rather have real money?
You might feel like you have the money, but it is not quite real. It is an IOU. The problem is that you need real money now.
With accounts receivable accounting, you get real money in your hands, right now. You can start production right away with accounts receivable financing.
Time is of the essence in modern business. When you get your product to market faster, you become the industry leader. That could increase the value of your brand tremendously.
Handling Late Payments
It can take a long time to build up a great relationship with your customers. All it takes is one misstep to ruin it. Small businesses must be careful when it comes to late invoice payments.
First of all, the industry norm might allow for 90-day payment. Technically, these would not be deemed as late. But, what if you need the money in your hands today?
Secondly, it can be difficult to pay your bills when you must wait for 3 months before payment. Rent is due every month. Wise businesses improve their cash flow.
Thirdly, all business owners know that times might be tough. You don't want to try to call in other's loans, because it can cause bad feelings. What is the answer?
Accounts receivable factoring solves cash flow problems.
First of all, you can continue to allow your customers to pay within 90 days. This helps you maintain customer relationships and adhere to industry standards.
Secondly, you can get money in your hands, faster. This is a key pillar of solid cash flow. With capital in your bank accounts, you can grow your business.
Thirdly, there is no need to call in any loans. You need money, you have invoices. Alternative funding sources buy your invoices and provide you with cash, immediately.
While capital has always been required for business, its allocation has changed, over time. The successful Canadian company turns to cutting-edge financing techniques to optimize their cash flow. Invoice factoring is one such funding innovation.
Money has a time component to it.
Western Canada building products and technologies need capital to compete with global firms. With accounts receivable factoring, they can get the financing, they need. You can even keep your own company letterhead on invoices to your clients. Maintain your privacy and keep everyone happy with AR financing in Canada.
Discover what AR finacing in Alberta can do for you. Give us a call or email us to get started now.