Archive for May 2018

Best Results Of E-Invoicing With the Account Receivable Financing

You probably know now the benefits of e-invoicing. We have already presented them in an article of this blog. But how do you convince your customers and suppliers to follow you? Here are some tips to help you.

Inform your customers

Nobody likes to be faced with a fait accompli. Start by taking the time to inform your customers and suppliers and explain to them that you would like to switch to electronic invoicing. Of course, you do not have to ask everyone directly to change the system.

Start with customers and vendors who seem interested in e-billing or who do not think you will. You can then create on your website a page where they can give you all the information you need.

Make sure it only takes a few minutes. Also make sure your customers have to change as little as possible. E-invoicing should not waste time or money. She would not really have any more interest. So remember to give them all the information they need to make this transition as simple as possible. You can get the options for the accounts receivable financing now.

Keep things simple

Use simple and understandable terms. Often, the way this system is presented – when it comes to XML or EDI files – is enough to discourage many people. Naturally, be sure to highlight its advantages: saving time, reducing errors, simplicity, etc.

For example, most accounting software makes it possible to create a PDF , a format that almost everyone knows today. So your supplier only has to send you a PDF document by e-mail, a solution that is clearly easier and faster than printing an invoice and sending it by post.

Reward your customers

Why would not you give your customers a small discount when they accept an electronic invoice? This discount will be quickly offset by the benefits of this system.

You can also organize actions in parallel: for each customer or supplier who will switch to electronic invoicing, you will for example donate to a good cause, or put into play gifts that participants can try to win. Let your imagination be free!

Start with yourself

If two people wish to switch to electronic billing, one will have to comply with the terms and method of the other. Rather than expecting your customers and suppliers to make every effort, ask them how they are doing exactly and adapt your procedures to their own. They will then show themselves probably much more conciliatory.

Tips To Find The Right Budget Friendly Factoring Company

If you have a small business and you are unable to collect the credit from your clients, then you should seek help from a factoring company. There are multiple factoring companies are present in the market and they offer invoice financing at a low-interest rate. There is no doubt that, the factoring companies offer the invoice financing at a lower interest rate than the commercial banks, but that is not sufficient for a business which has a lot of bad credit. If you are dealing with bad credit and get out that situation as fast as possible, then you should hire a budget-friendly factoring company for your business. Choosing the budget-friendly service provider doesn’t mean you have to compromise on the quality of the services. If you are willing to hire a budget-friendly factoring company, then you have to consider certain things before hiring the company.

Compare The Interest Rate: Comparing the interest rates of the factoring company will help you to get the best quality services at a competitive price point. Asking friends and subordinates to find a factoring company is the most common way to get recommendations. But this is not sufficient if you want to hire the best factoring organization for your business. use the internet to make your search and try to collect the contact number of at least 10 different factoring company. This will help you to get the contact number of best factoring company in a convenient manner. Now ask the companies for a quote and compare their interest rates. Different factoring companies offer their services at different interest rates, and comparing the rates will help you to find the most budget-friendly organization for your business.

CollectReviews: Hiring the budget-friendly factoring company will not be enough if they are unable to collect the bad credit from your clients. That is why before hiring any factoring company, collect reviews from their previous clients. This step will help you to avoid complications, which may arise in the future. The reviews will also help you to get a clear idea about the success rate of the factoring company.

Following the above-mentioned tips will help you to find the budget-friendly factoring company for your business.

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