Business owner X is fed up with waiting lengthy periods before his invoices are paid. Drafting and sending reminders takes a lot of time and money and his suppliers want cash payment, which inevitably squeezes his cash flow.
He therefore opts for factoring, which means he can outsource the monitoring of invoices to his customers in accordance with the procedures agreed in advance. He then doesn't have to be concerned with monitoring payment and can check the status of his portfolio of debtors online.
To resolve his cash flow problem, he also uses flexible advance financing based on the amount of his invoices. This means he can make up for fluctuations in turnover and negotiate advantageous terms for cash payment with his suppliers.
What's more, the 100% payment risk cover means he no longer has to worry about unpaid invoices.
The result is: Business owner X can focus entirely on the day-to-day running of his business. He doesn't have to worry about payment arrears because he knows he's dealing with experts and he has access to sufficient working capital at all times.