subject: Are you looking for Factoring Companies [print this page] Are you looking for Factoring Companies Are you looking for Factoring Companies
How can you tell if a Factoring Company is Great?? How your Customers are Treated
Of the many decisions to think of when selecting a factoring company (the fee you might pay, the speed at which you receive your cash, etc.), in the overall picture, none may be more important than how your customer is treated during the process.
When you factor your invoices, you are in actual fact delivering your client(s) to your factoring company's collections procedure. Bearing in mind that it's likely you wish to sustain a relationship with the customer, the very last thing you would like is for a strong-armed collection agent cause issues between you and your client.
A GREAT FACTORING COMPANY--and you will find only a handful out there--does things in a different way. They do not jump on your customer and insist on payment on your invoices. Nor do they use tactics that in any way might impair the relationships you attach importance to.
AT FACTOR KING we hold ourselves to these highest of standards when it comes to our clients' customers. We handle your customers with the utmost respect all the time. We never push in any way and we don't encourage harassing collection calls.
We contact the client only after a receivable is submitted for purchase by the client. After that we send a letter requesting the customer send all forthcoming payments for that particular vendor to our lockbox address.
We are very flexible on confirmations of good receivables, and we employ all communication channels (email, fax, voice, & online portals) so the transaction is as pleasant as possible for all parties involved.
Of the many decisions to make when deciding on a factoring company (the fee you might pay, the speed at which you receive your cash, etc.), in the general picture, none could possibly be more important than how your customer is handled throughout the process.
THE RELATIONSHIP between you, your factoring company, and your client is a sensitive one. You will need your client to see your factoring company as being a curteous, professional extension of your company--and this is precisely how we handle the relationship. We are representing you, our client, and we also always go to great lengths to ensure your customers are ok with the transaction so that you continue your relationship with them for many years to come.
