Invoice Factoring Online
Invoice factoring online has two different interpretations. The first is that the application for the factoring facility can be conducted online, the second is that the facility can be operated online. The term invoice factoring is also limiting as it is often used to descibe invoice finance which includes invoice discounting (similar to factoring but without credit control support). Therefore looking at each of those interpretations in turn:
Applying For Invoice Factoring Online
Most factoring companies have online applications but the reality is that most will need to complete the process with contact that is not just online. The degree to which you complete the process online varies between providers. Some of the receivables financing auction sites are largely online and some of the small independent factoring companies pride themselves on having personal contact throughout the process. We can help you access either, and all points in between.
Conducting Invoice Factoring Online
Again the degree to which one can conduct a factoring, or invoice discounitng, facility online differs between providers. At one end of the spectrum there are products that work largely online. You can upload your entire sales ledger electronically, and without user intervention, and draw down your payments via an electronic interface - you can even automate the drawdowns! Again there are invoice trading platforms that allow you to sell invoices online with minimal offline interaction. At the other end of the spectrum there are factoring companies that require invoices to be submitted by email. Again, whatever your requirements, we can help.