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5 Secrets: How to Use Factoring to Create a Successful Business in Edmonton
Oilfield companies routinely work under dangerous weather conditions under tight deadlines. As a result, oilfield companies can experience a lag in business due to adverse weather conditions and weather related expenses. Peak winter season can spell disaster for oilfield transportation companies in Edmonton.
Combine weather conditions with delayed payments, and your business is left searching for money to cover bulls and unexpected costs.
Instead of calling clients to pressure them for faster payment and jeopardize the business relationship, Calgary Cash can help oil field businesses like yours get access to payments, get cash flow, and make purchases without stress of worrying when clients will pay.
Instead of focusing your efforts on collection, concentrate on marketing, growth, and increasing resources, such as staff and other resources.
What is invoice factoring?
Invoice factoring, also known as A/R Financing, allows you to get quick access to outstanding invoices, more specifically, the money owed to you by your customers.
How Does Invoice Factoring Work?
You can factor your receivables (outstanding invoices) for immediate cash by following these simple steps:
1. Submit your outstanding invoices for invoice factoring in Alberta after delivering your product or service. Upon approval, you will be able to get access to your receivables instead of waiting for customers to make their payments.
2. Wait for us to quickly verify the invoices with your customer.
3. Get access to your funds. Upon verification, the funds will be transferred into your bank account as soon as the next business day! This mean that you can buy that equipment, make payroll, increase business operations, or catch up on your bills.
How to Use Invoice Factoring For a Successful Business
Factor invoices with Calgary Cash and watch your cash flow increase as your opportunities to increase growth and profits continues to expand! Along with invoice factoring in Alberta, use the following strategies to leverage your business for the highest level of value:
Increase Your Capacity for New Business
With invoice factoring, our Edmonton clients have the ability to conduct efficient business practices if they have better cash flow to help them focus their resources from collection to marketing and generating revenue. You can also be more flexible with customers who need to make payment arrangements for larger balances. With better cash flow, you will also be able to invest in business equipment that will increase your revenues.
Calculate and Minimize Your Expenses
By freeing up cash flow with accounts receivable factoring, many clients report that they have reduced the accumulation of debt through invoice factoring. With increased cash flow, clients also benefit from cash discounts from suppliers and eliminate supplier constraints.
Aside from cash flow, if you calculate how much you need to efficiently operate your business, you can use the money to anticipate and proactively pay expenses instead of waiting for expenses and debt to pile up. Depending on your financial needs and the economic climate surrounding your business, you can factor some or all of your invoices.
Strengthen Your Business' Financial Health
If you are behind on bills, factoring will help you close the gap or get current on all bills and outstanding accounts with creditors. If you have good credit, maintain your credit rating by using invoice factoring to cover any gaps in your cash flow. As a result, factoring can improve your credit rating, and also helps you pay your recurring business expenses, such as payroll and payroll taxes.
How Invoice Factoring Can Help Your Business
Before you sign up for A/R financing, determine how much money you need to maintain a healthy level of cash flow so that you can make the most of your situation. If you know you need to make a large purchase that offers cash discounts, you will need more cash flow. Whatever situation you are in, call a Calgary Business Cash representative today to get answers to your questions!
About Calgary Business Cash
Calgary Business Cash is an accounts receivable factoring company that serves Western Canadian business owners and business owners in Edmonton. As a top Calgary factoring company, we purchase your invoices so that you can get paid today rather than waiting for clients to slow pay their invoices.
Ready to get started? Get a Free Quote from Calgary Business Cash today by calling now 587-410-6088 or filling out our quick no obligation form located on this page!