Are you doing business with a city, county, state or federal government? Can't wait until 45 days to get paid? Consider financing your government bond.
It's tough. :
Invoice factoring, government contract factoring, factoring company
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Are you selling products or services to the federal government? Every year, cities, counties, states and the federal government buy billions of dollars of goods and services from all types of businesses.
Doing business with the government is big and financially rewarding, but it can also be tough with your cash flow. why? Government agencies, on average, take about 40 days to pay their bills. On the one hand, you need to cover all the regular expenses such as payroll, rent and supplier payments.
This is not a problem if you have 60 days worth of working capital in your bank account. But what if you do not? In that case, many business owners will try to get a business loan. It may help, but getting a business loan and taking time to setup is difficult. Also set the limits for business loans.
What a business owner needs, exclusively a business opportunity – is a product that provides funding based on sales potential. This product exists and is called invoice factoring. There are many friaring companies that specialize in government builders and sellers factoring.
Accelerated payment is already a month from the date of payment. It's a form of funding that factoring companies advance money on your government debt. Immediately waiting for funds to use in the game. The transaction is settled when the government pays.
If you are reselling products to the government, you should also consider funding for purchase orders. In this case, the factoring company will provide funding to pay your supplier and allow you to sell. Funding for purchase orders works well with invoice factoring and can also grow your company – exponentially.
So, if you own a business that sells to the government, look at factoring and funding purchase orders.
Faster payments for agencies-Digitize hard copy, delivery certificate
Resellers can resolve dispute claims by speeding up cash flow conversion when hardcopy, delivery documents in digital form.
It's tough. :
Hard copy, proof of delivery, payment dispute, scan, shipping, unstructured document, form processing, pending invoice, MRO supply,
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Every day, a typical distributor ships hundreds of products to the customer. For each delivery, a tow copy of the receipt is provided-one is left to the customer, the second is the "delivery proof" copy, signed by the recipient and held by the driver
In some cases, at the shipping point, the shipping notation is handwritten in the document and includes quality corrections, product status, recipient phone number and department's printed name.
The documents are then returned to the distributor's office for filing and are often submitted manually. So far so good.
However, a few weeks have passed and product invoices are due. Curiously, it remains unpaid-prompting the credit department to call the customer for payment. You dispute the invoice and claim that no payment will be made until a proof of delivery is provided.
Thus, the distributor searches under the signed delivery certificate and provides it to the customer. After a few days, the customer pays the bill. It all ends well, right? It's different. If the distributor is underfunded, DSO will be affected by these pending totals. Many increased credit lines to pay dealers other than credit risk risk prevented.
But what happens if no delivery certificate is found? What if it was misfiled, lost or damaged. These things happen occasionally and when you do that, they can negatively affect the salient mean day and bottom line.
There is a better way.
Unstructured documents (that is, documents not generated from the billing and inventory management system) or generated once from the billing and inventory system
Proof of delivery receipts, signed sales tax forms, customer purchase orders, customer fax releases / orders, customer provided specifications, and citation requirements are accepted in the distribution transaction.
Digitizing these hardcopy documents saves organization time, reduces losses, and reduces production time through multifunction devices that scan and convert documents automatically.
For example, a delivery person returning from the root can scan a delivery certificate document into a multifunction document processing system and send the document to a designated folder. Post-processing, delivery number, shipping date, invoice number, and customer order Once processed, the entire organization can access the document.
Digital certificate delivery note storage network folder and price link, the invoice number of the distributor. In advanced implementations, proof of delivery can transfer a copy of the matched invoice and its purchase order to the client.
There is a document library where you can search for groups as a piece of paper on acquisition by implementing that all hard copy systems are prepared. These systems track documents at the point of printing. Database At one time printing, cycling, reading, writing electronically other unstructured documents. Customers, suppliers and employees who are organized with all valuable work documents.
Incoming faxes can also be captured, organized and automatically processed as part of a strategy. Fax orders can be routed to different departments simultaneously-to sales, customer service, and credit-faster shipments and breaks for agents
Ten years ago, a system for processing documents was not practical for small to medium-sized agencies-but today's technology is for virtually $ 45 under a distributor of virtually any size Two strategies can easily be deployed: Delivery copy proof capture and inbound fax automation.
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