There’s benefits on benefits with this invoice Factoring company! - Finrock Capital

There’s benefits on benefits with this invoice Factoring company!

Jan 9, 2023 | Factoring

There’s benefits on benefits with this invoice Factoring company!

There’s nothing better than when you engage a service that provides a very real need for you and your business and on top of this, you get a lot of additional benefits thrown in. Cash flow is a major problem for many SME’s and in these tight economic times, it is not likely to ease up either.

Invoice factoring, simply put, is a way for a business to create cash flow by selling their invoices to a third party – a factoring company like Finrock Capital, at a discount. It’s important to remember though that Invoice Factoring is not a loan. You sell your invoices at a discount to a factoring company in exchange for a lump sum of cash. The factoring company then owns the invoices and gets paid when it collects from your customers, typically in 30 to 90 days.

There are many benefits to this service from a business point of view and we listed a few of these in a previous article on how we assisted a transport business. Not the least of these of course is that your cash flow problems are greatly alleviated but that still leaves many small business owners, already too stretched to handle their administration correctly, with the problem of managing their financial requirements.

Benefits on benefits

Imagine the relief then that many of our customers experience when they discover that Finrock Capital do a full debtor administration service, and this is all thrown in as part of the deal when they engage with us to provide their Invoice Factoring service. This includes…

Credit assessment and management – For a sustainable business, it is critical that one only sells on credit when there is the certainty that your customer can make payment. One must never forget that a sale is not a sale until the cash payment is in your bank. Included as part of the invoice factoring service we assist with…

  • Credit Bureau reports and assessments
  • Trade Credit References
  • Payment history reviews

Sending out statements to your customer – This is a laborious but absolutely necessary admin that needs to be on time and regular. Our part of this service includes sending statements to customers each month with outstanding invoices due.

Confirming payments – Before month end, about 5 days before payment is due, we check with customers that they will be making payments on the due date. If not paid on the due date, we get commitments of when they will be paying and if there is a credit note request then we engage with you, our client, to finalise and thereby prevent delays in payments.

Allocating payments – This free service includes obtaining proof of payments and remittances from customers. We then allocate these payments to invoices and follow up on short payments.

Following up on delayed payments – Follow-up is essential and if any commitment is not met we follow up and ascertain why. We even provide letters of demand if necessary, as an additional part of the service.

The benefits of these add-on services to our customers are multiple, so watch this space to learn more about them .

The Factoring business that factors in benefits for you!

When you engage the services of Finrock Capital all these bonus services are included as part of the factoring fee so there’s no additional cost to you. You not only get increased cash flow by turning your business into a cash-on-delivery business but you get a professional team of credit managers to look after your debtors and collections.

Contact us today for a no-obligation consultation and let us assess your cash flow issues or requirements so you can begin to experience the many benefits on benefits with this invoice Factoring company!

Related posts

Keen to share? Go for it.

Facebook Posts

Finrock is passionate about South Africa’s SME’s, providing them with the cash flow and working capital they need to thrive and grow.This Valentine’s month, we’re celebrating the vital role these businesses play in strengthening our economy. With the right support, every SME can flourish and we’re here to provide the support they need to succeed.Connect with us to find out how Invoice Factoring can provide your business with the cash flow it needs in 2025.info@finrock.co.za | 021 137 5450 #workingcapital #businesscapital #businessgrowth #cashflow #invoicefactoring #invoicefinancing #invoicefinance #debtorfinance #monthoflove ... See MoreSee Less
View on Facebook
𝘚𝘵𝘳𝘶𝘨𝘨𝘭𝘪𝘯𝘨 𝘸𝘪𝘵𝘩 𝘭𝘢𝘵𝘦 𝘱𝘢𝘺𝘮𝘦𝘯𝘵𝘴 𝘧𝘳𝘰𝘮 𝘤𝘶𝘴𝘵𝘰𝘮𝘦𝘳𝘴?We specialize in efficient debtor administration, ensuring smooth cashflow for your business. With our expert debtor administration provided to our clients more than 95% of our clients’ invoices are collected and paid within agreed terms. We help you maintain cashflow stability and certainty which allows you to focus on growth.info@finrock.co.za | 021 137 5450 #finrock #finrockcapital #workingcapital #businesscapital #businessgrowth #invoicediscounting #cashflow ... See MoreSee Less
View on Facebook
"𝘠𝘰𝘶 𝘢𝘳𝘦 𝘯𝘦𝘷𝘦𝘳 𝘵𝘰𝘰 𝘰𝘭𝘥 𝘵𝘰 𝘴𝘦𝘵 𝘢𝘯𝘰𝘵𝘩𝘦𝘳 𝘨𝘰𝘢𝘭 𝘰𝘳 𝘵𝘰 𝘥𝘳𝘦𝘢𝘮 𝘢 𝘯𝘦𝘸 𝘥𝘳𝘦𝘢𝘮." – C.S. Lewis It’s the perfect time to reflect, reset and refocus on your goals. Whether you’re launching to a new customer, expanding your current operations, or taking steps to grow your business, we are here to support you. Dream big, plan smart and take that first step today by contacting us to see how we can help you achieve your dreams.info@finrock.co.za | 021 137 5450 #finrock #finrockcapital #workingcapital #businesscapital #businessgrowth #invoicediscounting #cashflow ... See MoreSee Less
View on Facebook
𝘓𝘰𝘰𝘬𝘪𝘯𝘨 𝘧𝘰𝘳 𝘵𝘢𝘪𝘭𝘰𝘳𝘦𝘥 𝘤𝘢𝘴𝘩𝘧𝘭𝘰𝘸 𝘢𝘯𝘥 𝘪𝘯𝘷𝘰𝘪𝘤𝘦 𝘥𝘪𝘴𝘤𝘰𝘶𝘯𝘵𝘪𝘯𝘨 𝘴𝘰𝘭𝘶𝘵𝘪𝘰𝘯𝘴 𝘵𝘰 𝘨𝘳𝘰𝘸 𝘺𝘰𝘶𝘳 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴? Visit our website to explore what we offer. Our tailored invoice discounting facility provides an exceptional working capital solution. Our talented team has over 60 years of experience and will provide you with an expert debtor administration service.We specialize in empowering businesses with the cashflow and resources they need to succeed in today’s dynamic market. www.finrock.co.za#finrock #finrockcapital #workingcapital #businesscapital #businessgrowth #invoicediscounting #cashflow ... See MoreSee Less
View on Facebook
Access to working capital is one of the biggest challenges businesses face when trying to grow. Let’s explore how we can support your cashflow needs and drive your business forward. Connect with us today!info@finrock.co.za | 021 137 5450 #finrock #finrockcapital #workingcapital #businesscapital #businessgrowth #invoicediscounting #cashflow ... See MoreSee Less
View on Facebook
Is Finrock Capital the right fit for your business?◾ If your business sells on credit and your payment extend up to 90 days◾ If you primarily sell to other companies◾ If your sales are made outright, without sale-or-return or consignment arrangementsIf this sounds like your business model, we are here to support your growth with tailored invoice discounting solutions. Let’s work together to unlock valuable cashflow to enable your sustainable growth and profitability.info@finrock.co.za | 021 137 5450 #finrock #finrockcapital #workingcapital #businesscapital #businessgrowth #invoicediscounting #cashflow ... See MoreSee Less
View on Facebook
Growing your business or bringing your big idea to life is an exciting way to kick off the year. However, if lack of working capital and cashflow is holding you back, we are here to assist. Our tailored invoice discounting solutions are designed to give entrepreneurs the boost they need to turn their visions into reality. By providing cashflow to bridge the gap until your credit sales are paid, we’re committed to supporting your journey. info@finrock.co.za | 021 137 5450 #finrock #finrockcapital #workingcapital #businesscapital #businessgrowth #invoicediscounting #cashflow ... See MoreSee Less
View on Facebook
We understand that every business has unique challenges and goals, which is why we tailor our services and invoice discounting solutions to meet your specific needs. Our invoice discounting solution and relationship-based debtor administration provide flexible solutions to grow your business. This provides you with the flexibility to adapt your business and help it thrive. info@finrock.co.za | 021 137 5450 #finrock #finrockcapital #workingcapital #businesscapital #businessgrowth #InvoiceDiscounting #cashflow #flexibility ... See MoreSee Less
View on Facebook
A New Year brings new opportunities for growth and success. As we step into 2025, it’s time to focus on setting strong financial plans, supported by access to cashflow which will unlock your business goals. Let’s work together to make 2025 your most profitable year yet. Feel free to connect with us to find out how we can assist your cashflow with an invoice discounting solutions.info@finrock.co.za | 021 137 5450 #finrock #finrockcapital #workingcapital #businesscapital #businessgrowth #invoicediscounting #cashflow ... See MoreSee Less
View on Facebook
Share This