In very simple terms, invoice discounting allows you to receive up to 90% of the money you're owed within 24 hours of submitting an invoice. We advance monies against invoices without your customer knowing.
Who is invoice discounting for?
Invoice discounting is mostly aimed at larger businesses (typically above £2m annual turnover). You must have well-established systems and procedures in credit control and sales ledger management.
So why use invoice discounting?
Many businesses like the anonymity offered by invoice discounting. With invoice discounting, your customers need never know that you're using our services. This is particularly important if you have good, solid, long-lasting relationships with your customers: it's not that you have a problem getting the cash from your customers; it's just that you need it now, and not in 30, 60, or 90 days.
Why invoice discounting could work for you
Invoice discounting is an excellent way to give your business a vital cash injection. You're effectively borrowing your own money - it's just that you haven't had that money paid to you yet. Invoice discounting is ideal if you're eager to expand your business, but need a little help with the funds required to get you there. We will work with you to ensure the service is simple to operate alongside your existing systems.
Invoice Discounting with Credit Protection
Although no business likes to think about it, it's a fact of life that every day, companies go into formal insolvency. In the case where one of these companies is a customer of yours, it can prove extremely difficult to recover what you are owed - or indeed recover anything at all. If your customer fails to pay and you do not have credit protection in place, you will have to repay the funds we have provided against their outstanding invoices.
For larger businesses this may not be a problem. But for many smaller companies, even a relatively minor cash flow crisis could prove to be a major worry. This is where Invoice Discounting with Credit Protection product steps in - to protect your business from the formal insolvency of a customer.
How Invoice Discounting with Credit Protection works
Designed to complement your invoice discounting facility, credit protection is an affordable solution that mitigates the impact of bad debt caused by the formal insolvency of a customer, giving you certainty of payment when things go wrong. Invoice Discounting with Credit Protection can put you ahead of your competitors, allowing you to take on more business and grow with confidence.
Reducing the risks
Invoice Discounting with Credit Protection includes built-in credit limit analysis for all your customers. This simple step can often help to reduce the risk of bad debts in the first place.