How to Choose a Factoring Company That Stands out?
Why a company should use a factoring service and what they get from it is fairly obvious. What a company should look for in a factoring service is also pretty obvious. What, though, separates a factoring broker in Roswell, GA from other factoring services though?
Superlative Customer Service
A good factoring company will assign a single account executive to your account. A great factoring company will assign someone who really understands your business and its cash flow needs. A factoring company that sets itself apart will build and maintain a relationship with you and your clients so that any invoicing or payment issues can be quickly resolved.
A Dedicated Account Representative
If you have ever been at the customer service desk of a box store, you understand the “pick a number” approach to customer service. This works if you deal with thousands of customers a day, but not if you are involved in a very personal business relationship with a factoring broker. Your broker does not have to work exclusively with you, but they should be able to dedicate the time needed to work with you one-on-one.
Easy-to-Navigate Factoring Management System
In this day and age, the factoring companies that do not have an online management system are in the minority. What sets a great factoring service apart, though, is a system that is nearly flawless in operation and ease of access and use. It should let you do everything, from sending in invoices and reviewing account balance sheets to tracking payments and generating management reports of your account activity. It also should allow you to do all that online, from anywhere there is a connection to the Internet.
Anyone with funding can theoretically start a factoring company, but what you want and need is a company with a history of success. Companies that have accumulated years of experience and multiple clients in dozens of industries will be better able to handle any issues that arise with your business without wasting a lot of time trying to figure it out.
The needs of industries vary greatly. A computer technical support service has much different needs than a freight delivery service. You need to have a factoring service that understands your business and your industry. Industry-intelligent factoring companies will be able to tailor solutions to you unique needs and will be able to anticipate business cycles that someone without experience simply will not be able to do.
There are factoring companies and then there are those factoring companies that set themselves apart. These attributes will be present in the company that stands out. You should use this as a checklist when choosing your factoring broker in Roswell, GA.