For most growing businesses, there comes a time when your cash flow is under strain. Invoice Discounting can be your saving grace.
It is often not an option to get into debt by using a traditional overdraft facility or a credit card to cover the shortfalls.
Sometimes, the company credit card is already maxed, and you are waiting for a customer to pay you.
This is where a cash flow solution like invoice discounting can help you. If you already know that the customer will only pay you on 30/60 or 90 days, this is worth considering.
What is Invoice Discounting?
Invoice discounting is where you can work with a company like Bizcash to get paid earlier on your customer invoices.
Fees are negotiated upfront, so there are no surprises down the line.
Bizcash would front you the money and then get paid back once the customer has settled the invoice.
It is a solution that works well for businesses that need that cashflow earlier, as they are too small to foot the bill long term.
Knowing that the payment will happen according to plan allows you to allocate the invoice upfront for payment by Bizcash for the set fee.
Selective Invoice Discounting, the type offered by Bizcash, lets you choose which invoices to discount. So you do not have to discount your entire debtor’s book. This level of control over your finances and cash flow can change how your business grows and thrives.
The benefits of using a Selective Invoice Discounting facility is there is no long term commitment. You can use it where and when you need to.
If you feel your business can benefit from this kind of financial solution, please get in touch with our team by clicking here or calling us on 0861 93 93 93.
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