- 13 Jul
What Is The Invoice Finance Sales Process?
The sales process involved with being approved for an invoice finance facility, such as factoring or invoice discounting, can vary between different providers. A generic overview of the process would be as follows: 1) Initial contact, normally by phone. 2) Meeting with a Sales representative. This will normally involve general discussion about your business and what you need. 3) Survey - this may be combined with the sales visit, as the some sales people can also conduct surveys. The survey is a detailed review of your business sales ledger and other records. 4) Documents - normally a formal offer letter and legal agreement that you sign if you wish to proceed. You should take legal advice regarding this step. 5) Take-on - this can be conducted by post in some cases but often involves a visit to pick up the existing sales ledger of the business. In some cases the sales ledger can be uploaded electronically. The entire process can be completed within just a few days if necessary.