Invoice Factoring Best Practices

Does your invoice factoring company follow the best practices? Many businesses and organizations express concerns over a third party working with their customers. When choosing a factoring company, it’s important to ensure they follow best practices around their clients’ customers to ensure good relationships. Here are some tips to illustrate best practices to look for in a factoring company.  

Invoice Factoring Best Practices

Maintain Good Business Relationships With Customers

Factoring can be a new concept to most of your customers. A factoring company should introduce itself to your customers and explain the factoring process to them. The factoring company will be working with your customers regularly through the customer’s normal accounts payable process, so it’s important that they form a good relationship with them. 

Kore Capital works with your clients to collect outstanding money from them without damaging your relationships with them. 

Minimize Needed Communication

Your customers are busy individuals. They won’t want to be constantly hassled by a factoring company. Ensure the factoring company you choose has minimal communication with your customers.

Kore Capital checks the creditworthiness and invoices of your customers to ensure that they will pay their invoices. Our invoice factoring is a simple process, and we don’t constantly communicate with or hound your customer for payment. 

Dedicated Customer Teams

Is your business new to the factoring process? It can be overwhelming at first, but the factoring company you choose should be able to help you every step of the way. They should have customer service that can answer all of your questions (and those of your customers) to streamline the factoring process.

Kore Capital has a dedicated customer service team that is on standby to help you and your customers out every step of the way. We work with companies and guide them throughout the factoring process. 

Choose an invoice factoring company that understands the importance of good customer relationships—contact Kore Capital today!