Building A Customer Focused Business
How Technology Has Improved Invoice Factoring
In today’s time, many people cannot imagine running a business without the aid of technology, and the evolution of technology has changed the way we do business on a daily basis. Computers, software, apps, video, etc. have allowed companies to expand their businesses well beyond the borders of their home base. For factoring, it has created endless possibilities for how and where business can be done.
In the late 70’s early 80’s as factoring was just coming to light as one of the newest options to assist businesses with cash flow, everything, for the most part, was done by hand, limiting the amount of business that a factoring company could take on. Because computers were relatively new to the business world and incredibly expensive, many companies used what they knew best, pen and paper. It took hours to process schedules, write checks, post payments and create and sign contracts. Face to face time was not lacking and allowed companies to build relationships with their clients, but it limited the number of clients one could take on.
As technology advanced, the factoring industry began to explode. Software programs began to take the place of pen and paper, allowing for more information to be processed faster, giving companies the ability to take on more clients. The use of email was a game changer for all industries. Faster communication with their clients created an avenue for growth. While face-to-face time is often lost, factoring companies could now expand their factoring efforts across the US and beyond. Online banking has given clients the ability to be funded immediately, right into their bank accounts. Social media has given the freedom to advertise and reach mass markets reducing marketing budgets.
Technology is an ever-advancing force that will continue to allow companies and industries to push beyond what they ever thought was possible. Factoring has grown exponentially and will only continue to reap the benefits that technology has to offer benefiting small businesses across the world. While technology has its positives and negatives, in the world of business, it’s again for everyone.
American Receivable Remains #1 for Third Consecutive Year
Dallas, Texas– For the third consecutive year, Top Ten Reviews has ranked American Receivable as the #1 factoring company in the U.S. American Receivable was one of the first factoring companies in the DFW metroplex, and for the last 39 years, American Receivable has provided cash flow solutions to businesses across the nation.
American Receivable offers custom tailored working capital for each client at some of the lowest and most competitive rates in the industry starting at .8% with up to 95% advances. American Receivable offers a quick and seamless application process with no upfront or hidden fees. Clients can receive funding in as little as 24 hours and require no monthly minimums or maximums.
If you need financing call American Receivable at 972.404.4726 or on the web at www.americanreceivable.com
A Record Month for New Factoring Clients
American Receivable Corporation is excited to announce its biggest month of 2017. We welcomed twelve new clients for the month of April.
April’s new clients include:
- A Mesquite, TX environmental contracting company
- A Williston, ND based oilfield maintenance company
- A Richardson, TX telecom company
- A Plano, TX computer programming company
- A Des Peres, CA water system supply maintenance company
- A Hawley, PA low voltage wiring and cabling installation company
- A Conneaut, Ohio based hydraulic hose fabrication company
- A Santee, CA hospitality staffing agency
- A Bristol, CT courier and delivery service company
- A Frisco, TX electrical staffing agency
- A Wilmington, DE based seasonal wholesale importing firm
We would like to offer special thanks to our sales team and network of bankers and brokers for all the April generated leads who helped make April successful. Here’s to a continued prosperous 2017!