The Best Factoring Companies
When it comes to deciding which invoice factoring company is the right one for you and your business, everyone agrees…you want the best! But who is the best and how does one even go about making that distinction? Before we delve into that search, it’s first important to fully realize that finding the Best Factoring Company is an important decision that will have both an immediate and long term impact on your business. As a result, it’s imperative to get this decision right the first time. As Brian Bass states in his article about the Difference Between Strategy & Operational Decisions:
“The success of a business depends on the decisions made by key personnel in the organization. However, these individuals can make poor decisions that will be detrimental to the organization.”
Nobody wants to make the “wrong” decision when it comes to something as important as the livelihood of their business, and we hope that the following advice will help ensure you make the “right” decision when you’re ready.
Obvious but Essential
So what distinguishes the best factoring companies from the others? First and foremost are the items that we all know are obvious but essential. These are all the terms that are easy to research and make “apples to apples” comparisons on. For example, we’d include details like advance rate, factoring fees, payment terms, and credit limits in this category to name just a few. In our experience, comparing these “tangible” differences between factors helps you quickly weed out the less than ideal choices and narrow your list down to just the factors that have the mix of offerings that will work for you and your business. As an example, if you decide that your business absolutely requires a freight factoring company that provides quick-pay options, fuel cards, and 100% advances, you’ll be able to quickly weed out the vast majority of factors that simply can’t or won’t provide these solutions.
Difference Maker
By performing an “obvious but essential” comparison, you’ll narrow your choices down to just a handful of factors that will work for you on paper, but how do you get from there to finding the best of the best factoring companies? The truth is that in this industry, the best of the best are those rare factors that cannot only meet your tangible requirements, but that are also fully invested in seeing your business succeed. Too many factors view their clients as simply another number on a spreadsheet. As a result, what looks great on paper ends up being a disaster because the factor isn’t actually willing to work with their clients. In other words, it’s the factor’s way or the highway. What you really need is a factoring partner that values your relationship, is willing to work with you, and that places a priority on serving the needs of your business. Like most things, the real difference between the best factoring companies and all the rest comes down to one simple fact…they care about their clients!
Best Factoring Companies Conclusion
As cheesy as it may sound, at Orion Business Capital we care about our clients and their success. In fact, we care enough that if we are unable to meet your obvious but essential needs, we’ll help you find a factoring partner that can. If you’d like to learn more about whether our programs are right for your business or you’d just like to get to know us better, feel free to contact us at anytime. We look forward to hearing from you and wish you the best of luck in your search for the best factoring company.