Factoring - also known as invoice factoring and invoice discounting - can provide businesses with a much-needed cash flow boost.
Factoring allows your business to raise finance from the unpaid invoices owed to you. Depending on the deal you reach with a factoring company, you can access up to 90 per cent of the invoice value within a day of raising the invoice, while the remaining percentage - minus the service fee - is paid to you once the invoice has been settled.
Factoring may also be a resource-savvy way to manage debt collection and ledger management. A bad debt protection service is also offered as a bolt-on to many invoice discounting agreements.
At Business Credit Express, we believe that one of the best ways to support your company's continued positive cash flow is to conduct thorough credit checks on new clients before you enter into any credit agreements. Our industry-leading credit reports will reveal potential areas of concern such as payment disputes, late payments, payment defaults, or even insolvency. Identifying these issues in advance should enable you to offer payment terms to specific clients that minimise your company's exposure to potential bad debt.
Business Credit Express is part of Veda (formerly Baycorp Advantage) a leading name in the credit industry. Veda is responsible for Australia's largest database of consumer and business information - a resource that Business Credit Express utilises in its world-class credit reports.
In addition we use public record data, government information, and in-house analysts.
Our Business Credit Express reports include:
Company Credit Report
Suitable for low-to-mid exposure accounts. The Company Credit Report uses Veda credit data and public record information to quickly establish creditworthiness.
ASIC Company Report
The Australian Securities and Investments Commission (ASIC) Company Report (Basic) and ASIC Company Report list information like company registration, director details and shareholder structure.
The Business Credit Express Investigative Report is intended for higher-risk accounts. It's compiled by analysts from the Australian Bureau Research division of Veda.
All Business Credit Express reports are available to purchase online.
Invoice factoring - also known as invoice discounting - can boost businesses cash flow while at the same time effectively outsourcing debt collection and ledger management.
Debtor Finance allows businesses to boost their cash flow by leveraging their accounts receivables assets.
Invoice discounting enables businesses to boost their cash flow by leveraging their accounts receivables invoices, effectively outsourcing your debt collection at the same time.
For many small-to-medium enterprises, invoice financing is the solution to cash flow inconsistencies.
Receivable factoring is essentially the sale of one of your business' most valuable assets - your invoices.