What to Tell Your Clients About Factoring
One of the biggest questions business owners have about factoring is: what do I tell my clients?
In other words, “how do I notify my clients that a factor is involved?” The unspoken concern here is whether clients will get confused or misunderstand.
The fine folks at Facteon have come up with a set of 5 tips for what to say to your clients to make them comfortable with your decision to factor your accounts receivable invoices.
Perhaps the most important thing is how to position your decision properly right from the get go. This tip is especially important:
Tip #1:
Working with Facteon helps me fuel my Company’s growth.
Selling invoices (receivables) to a third party like Facteon has been a standard business practice for hundreds of years. Our business is not in trouble. In fact, it’s just the opposite: it is growing fast and Facteon accelerates my cash flow to fuel that growth.
It’s like anything else in business: you set the expectations with your clients. How you choose to present the decision to clients will shape how they perceive the news. And to your clients it really is just business as usual, except for where they send their payment.
Read all five tips: What to tell your clients about accounts receivable invoice factoring.
