Top 3 Tips To Clear Your Tax ArrearsNov 01 2019 in Cash Flow Finance
Tax arrears are an increasing cause for concern among business owners as falling behind has serious repercussions on growth and profitability. According to the Australian Taxation Office (ATO), it is the primary cause of business liquidation.
Aside from the financial stress it can cause, battling tax arrears can divert your energy away from important activities such as growing your business.
Tax arrears can also put you at a disadvantage when seeking finance, as some lenders will consider tax liabilities as added risk and can increase their pricing accordingly.
Here are three ways to get rid of tax arrears and get back in control of business finances:
- Keep On Top Of Your Expenses And Cash Flow
Businesses in the start-up phase often run into financial difficulties during the second year when they receive their provisional tax invoice. Typically, a large amount of money is invested in costs such as equipment purchase, recruitment, rent, salaries, and marketing.
If your business does not have adequate cash reserves, you could struggle to meet your tax obligations. Cash flow is the heart of a healthy business, and one of the ways to ensure you have sufficient cash is to pay your taxes on time is through having the right finances in place.
Cash flow management is important at the operational as well as business level. Both are needed to help you plan your business’ financing needs.
With operational cash flow management, you are essentially mapping out cash coming in and going out of your business weekly for the next 8 to 12 weeks. It helps in identifying any blips in your cash flow from month-to-month.
Strategic cash flow management is about the bigger picture where you look at monthly cash flow for the coming 12 to 18 months. It’s about understanding the cash flow implications of your business strategies. It’s what you need to find out how much cash your new growth strategies will generate. You will also know how much money is required to fund growth objectives.
- Enter Into A Payment Arrangement
If you’ve fallen into tax arrears, it’s important to settle your dues as soon as possible.
One of the ways to reduce your tax outstandings is to enter into a payment arrangement with the ATO. This is essentially an arrangement where you agree to make deferred payments until your tax is paid off.
This will improve your cash flow position and take back control of your business.
- Use Cash Flow Financing To Clear Tax Arrears
An effective strategy to improve cash flow and clear tax arrears is through cash flow financing.
Through cash flow financing, you can receive an immediate inflow of cash from the cash flow finance company. The cash can be used to pay taxes as well as expansion opportunities.
Essentially, cash flow financing allows you to unlock funds owed to you before they are paid by your clients or customers. Cash flow financing can also relieve you of the burden of following up with clients or customers, as this can be taken care of by the cash flow finance company. This can free up your accounting staff’s time and reduce overhead costs.
At BCashflow Positive, we make the process of cash flow financing simple and fast. Up to 90% of your invoice value is made available to you in as quick as 4 hours. The remaining 10% is credited once your client pays us.
There are no hidden costs or quarterly audits required. You choose what invoices you would like funded and leave the rest to us. It is also free to apply and we will get back to you within 24 to 48 hours with a response.
If you’re looking to bring your tax arrears under control and would like to take advantage of supplier early payment discounts, finance business growth or boost cash reserves, then give us a call on 1300 937 292 or Click Here to get a quote.
How Invoice Financing is Saving Small Business From a Cashflow CrunchOct 07 2019 in Invoice Finance
The tightening of the lending criteria by banks is hurting small businesses looking to raise funds for meeting their cash flow needs.
A few years ago, profitable businesses operational for a period of time and with a good credit history found it quite easy to get approved by banks for a loan. This is no longer the case. Banks are making it harder, even for financially sound businesses to borrow money.
It’s not just hurting small businesses. According to the Australian Small Business and Family Enterprise Ombudsman Kate Carnell, the nation is in serious trouble if small businesses aren’t given help to grow in a flat economy.
Large businesses, on the other hand, continue to benefit. According to the RBA, lending to big business in the past five years has increased by a third, while bank lending to small business has been flat.
In 2017, the Reserve Bank had clearly said it wasn’t the lack of entrepreneurial spirit which was responsible for the economy slowing down, but the absence of entrepreneurial finance which was holding back the small-business part of Australia’s economy.
Late Payments Adding to the Cash-Flow Crunch
Compounding the difficulty to borrow funds when required, many small businesses are not getting paid on time. In turn, they aren’t able to pay their suppliers in a timely manner. This often results in supplies being cut off.
A research study carried out by Intuit across the globe found that 61% of small businesses are finding it difficult to manage their cash flow. The survey was carried out among 3,000 business owners from companies based in Australia, U.S., U.K., Canada, and India.
Despite their cash flow being choked, small businesses need to pay staff and their dues to the ATO. The Intuit study found that 32% of the businesses were unable to pay their vendors on time, while 43% had occasionally delayed payments to employees.
In comparison, large businesses have 60 and 90-day payment terms, as well as huge reserves of cash and, are easily able to tide over a short-term cash crunch.
Invoice Financing – Banks are Not the Answer
Small businesses who approach banks complain that banks will lend them money when it’s not needed and ask them to return it when cash reserves are depleted.
With problems such as cash flow and late payments, small businesses are looking for alternative financing solutions to fund their operations and growth.
Among these are invoice financing offered by companies such as BCashflow Positive. Essentially, invoice financing works by unlocking the cash tied up in invoices, thereby speeding up cash flow.
With the growing popularity of invoice financing, small businesses are able to take advantage of competitive rates compared to what’s offered by banks.
Working With BCashflow Positive – A Win-Win Solution
Partnering with a reputable and established invoice financier like BCashflow Positive is a positive step for SME’S. BCashflow Positive takes care to maintain a client/debtor relationship. We work closely with our clients to fully understand their business and customer needs before providing an invoice financing solution.
If you’re looking to have fast access to cash locked up in your invoices, we can get you up to 90% of your invoice value as quickly as 4 hours and the remaining 10% as soon as your customers make payment to us. Call us on 1300 937 292 for more details or CLICK HERE to get a quote.
EOFY 2019: BAS payments due, bills and more bills
As the end of this financial year is almost here, it shouldn’t be a surprise that your BAS statement is due again this 28 July. If you are a business registered for GST, you need to send your business activity statement (BAS) to the Australian Tax Office (ATO). You BAS helps you report GST, pay as you go (PAYG) instalments and other taxes.
ATO payments may become a stress point for your business, but there are simpler and better options other than the ‘Banks’ for helping you meet your ATO commitments. Traditionally, big banks won’t help or lend to small business especially if you have an ATO debt hanging over you.
At BCashflow Positive we specialise in assisting small businesses meet and manage cash flow needs like operating costs and ATO debt. Contacting us may make all the difference to your business cash flow by giving you access to your own funds currently locked up in your unpaid invoices/receivables.
Is Debtor Finance the same as a bank loan?
Debtor Finance is definitely a far cry for the traditional complex and over secured big bank business loan. The paperwork associated with Debtor Finance is simple and it won’t take weeks or months to get an answer.
The amount of cash you can access depends on your current receivables/unpaid invoice ledger, and not what a “back office” big bank credit manager may think they should give you.
Unlike the traditional big bank loans, BCashflow Positive does not take your personal assets and homes as security. You will be able to speak with the person that manages your account and is able to make decisions. The service level we provide will be a pleasant surprise.
Who benefits from Debtor Finance?
If you have outstanding invoices, Debtor Finance may be the answer you have been searching for.
At BCashflow Positive we are happy to look at all industry types so your business may be more than suitable. Some of the industries we have assisted include; Transport & Logistic, IT & Business Services, Earthmoving & Mining, Recruitment & Labour Hire, Manufacturing & Wholesale to name a few.
What are some of the many benefits of Debtor Finance?
The application and approval process is much faster than a bank loan. Instead of waiting weeks or possibly months for bank approval or your customer to pay, your business can access capital in as little as 4 hours once a facility is in place with BCashflow Positive.
Debtor Finance is a flexible alternative to finance business growth. It can cover the gap of slow payments and allows a business to get on top of ATO obligations. Businesses may also have the opportunity to take advantage of any supplier early payment discounts.
How does Debtor Finance work?
At BCashflow Positive you can turn your invoices into cash in three simple steps:
1.Invoice your clients for sales of goods or services.
2.Up to 90% of the invoice value is credited to you in as quick as 4 hours.
3.Receive the remainder less any accrued fees when your customer pays us.
Access funds from a leading Debtor Financing business
BCashflow Positive can work with small businesses experiencing tax difficulties. We can help your business access funding through your outstanding invoices. So take advantage of a debt factoring facility today by calling us on 1300 937 292 or complete our simple and quick contact form.
Are slow payments squeezing your cash flow?
Large powerful companies, corporations and contractors are actively adopting an approach to delay and defer their accounts payable from processing payments to their suppliers, often taking up to four months to pay their bills as a tactic to manage their own cash flow issues. However, although gaining popularity it is also done [often] at the expense of their suppliers, with a report from the small business ombudsman describing it as the “Silent Killer of Modern Business”.
In the past extended payment terms were often seen as a sign that a company was experiencing cash flow problems, but these days, big robust companies are imposing delayed payment strategies to accommodate their own cash flow restraints. These practices are turning suppliers into lenders, forcing the supplier to carry the cost as they wait for their own receivables to come in.
Who really pays the price?
Small businesses Australia wide pay the price. With banks tightening their lending policies and larger corporations exploiting their size and buying power it becomes even harder for the SMEs to navigate the flow on effects these practices are having. You still have a payroll to run, your own suppliers to pay, BAS and other taxes all of which can’t be put on hold whilst waiting months for payment.
An international study of 30,000 invoices from 80 countries found Australia is lagging the rest of the world in terms of late payments. Research by the UK-based Market Invoice found Australian businesses were being paid on average 26.4 days past the due date, far later than the next latest country, Mexico, with 18.6 days, or South Africa at 16.5 days late.
Are there ways to smooth cash flow?
Invoice factoring is an option that can level your cash flow as you move forward. At BCashflow Positive, our clients get up to 90% of the face value of the invoices in as quick as 4 hours instead of waiting for 60, 90 or even 120 days to be paid.
Instead of waiting weeks to receive payment on invoices, Invoice Factoring lets small and medium businesses access cash via their accounts receivables, allowing you to keep investing in your business, as you work out how to navigate the payment delay tactics your customers are undertaking.
Why BCashflow Positive?
BCashflow Positive is a leading provider of invoice factoring with 30 years’ experience in this field. We are a factoring company, that is what we do. Our fast turnaround can see you accessing funds caught up in outstanding invoices in just 4 hours. No hidden fees and the ability to choose what invoices you want funded allows you to control the cost of the facility.
How quickly can you get funds?
At BCashflow Positive, you can get funds in as quick as 4 hours once a facility is in place. For more information on invoice factoring with BCashflow Positive, call us on 1300 937 292, or fill out our quick contact form and we will be in touch.
Invoice financing alternatives in wake of credit squeezeMay 21 2019 in Invoice Factoring
Small businesses say they need loans. Banks say loan demand is slowing down and regulators are making lending standards tougher. What’s the fix?
For small business owners, raising capital has never been tougher than it is today. Banks have tightened credit to small businesses and in the wake of the Royal Commission’s investigations into misconduct in the banking and financial services industry, the banks are overly cautious about their lending practices, with the regulators saying that it is affecting their decisions in giving loans to small businesses.
The financial analysts warn, as banks tighten up lending standards, credit is harder to get. Which is worse for the economy and could lead to a credit crunch.
The important thing to keep in mind, as you prepare for what will be one of the biggest hurdles for small businesses in the event of another credit crunch, is that a painful and significant slowdown in small business financing would be the flow on effect.
How do small businesses obtain external financing?
As small businesses feel the credit crunch, they are opting for alternative ways to fund their growth. Most of the time, just simply to pay their bills.
A business that offers credit terms to their customers will complete jobs and then get paid at a point of time in the future. According to the case studies, it may take up to 90 days to see any money from work that has been completed. This means that these businesses have to come up with operating capital to pay wages and for materials that were necessary to do the work, out of their own resources. For a small business, this can be very draining.
This is why more and more firms are turning to invoice finance to help meet their cash flow, funding and growth challenges.
Could Invoice finance be your answer?
Invoice financing helps small businesses receive funds for work they had already completed ahead of time and not to rely on banks. Invoice financing is quickly becoming the go-to method in many industries – labour hire, transport warehousing, wholesale to name a few.
Basically, invoice finance is a way of accessing the funds tied up in your outstanding invoices as soon as they are raised, rather than waiting weeks or perhaps months for customers to pay.
Why BCashflow Positive is in the best position to help?
BCashflow Positive is a leading Australian invoice financing company with 30 years’ experience with the knowledge to help you make your financial decisions with confidence.
We will assign you with a specialist who can answer all of your questions and guide you through the process from set up to operational.
How to get started?
At BCashflow-Positive we make this incredibly easy for you. Our online application is simple, and it only takes 3 minutes to complete. We assess and provide an answer on all applications in as little as 48 hours from receipt of a completed application and supporting documents. Going forward, you provide us with copies of your invoices, and we will fund up to 90% – in as little as 4 hours, with the remaining balance released when your clients settle in full.
For more information on invoice financing with BCashflow-Positive, call us on 1300 937 292, or fill out our quick contact form and we will be in touch shortly.
How boutique financial services can provide better customer serviceApr 17 2019 in Invoice Finance
How are the Big 4 banks taking advantage of their customers?
The Australian Securities and Investments Commission (ASIC) and Australian Small Business and Family Enterprise Ombudsman (ASBFEO) say they’re concerned after the crackdown of the “fees for no service” scandal of Australia’s biggest financial institutions.
The Big 4 banks and their peers have been scrutinised over the past few months by ASIC and The Royal Commission for their greed and unethical standards. Even politicians have joined the chorus, and all seem to be singing from the same page, targeting deplorable customer service, bad financial advice, and for the practice of charging fees for advice that was never given, worst of all, reported cases of charging deceased clients for financial advice.
Wondering if there’s more? Look past the BIG FOUR
If you’re ready to take control of your financial future, you should first look at whom you’re choosing to get finance from. For excellent service, accountability, transparency and honesty, businesses need to look into the boutique financial services. The independent financial services market is packed with companies that have been operating for many years, and their customers are very well looked after. You have a choice, and there is no better time than now to break free and explore the alternatives.
Invoice finance is growing in popularity as a simple solution to a variety of financial needs, yet most business owners wonder if it is for them. The good news is Invoice Financing is for businesses of any size – including startups with a limited sales history and qualifying for financing is relatively quick and straightforward.
Why should you turn to us for invoice financing?
BCashflow Positive has been a market leader since 1989 and is totally independent. We are free from any influence or restrictions from the big banks or for that matter any other outside influences with its major competitor, a publicly listed company, undoubtedly controlled by its own financing facilities with the big four.
BCashflow Positive has a strong reputation and operates on core values – fairness, transparency and quality customer service levels that the others can only dream of.
BCashflow Positive pride themselves on offering simple, flexible and totally transparent Invoice Finance facilities, and to make it even easier for SME’s, BCashflow Positive does not ask for real estate security.
BCashflow Positive will take no more than 24 business hours to assess your application and come back to you with an answer and a formal offer. If you have dealt with the banks recently you would have experienced turnaround times that extend into weeks and even months.
Are you looking for financing?
If you need to raise funds from your debtors, Invoice Financing through BCashflow Positive would be an excellent alternative to what the majors can offer, with all their strings, controls and real estate security that go along with banks.
Don’t waste your time with the big banks, BCashflow Positive is the best alternative for your Invoice Financing requirements.
Find out more today by calling 1300 937 292 or fill out our quick contact form online.
Businesses should explore invoice financing as a credit crunch loomOct 26 2018 in Business Cash Flow, Invoice Factoring
Are you a small business owner? You’re probably facing a credit crunch as banking regulations have tightened due to the Royal Commission’s highly legalistic interpretation of responsible lending laws.
According to the Financial Review (Sep 2018), The Australian Prudential Regulation Authority is forcing banks to apply tougher tests on borrowers’ income and expenses, also delaying the time it takes for loans to be approved.
Mark McKenzie, chief executive of the Australian Convenience and Petroleum Marketers Association said to the Financial Review “Loan-to-valuation ratios (LVR) offered by banks to small firms in his sector has been slashed in half. About a year ago, small service station operators could attain an LVR of up to 75 percent. At the moment no one can get an LVR over 30 percent.”
That being said, small business owners need to look at alternative financing options to sustain their cash flow.
Why explore invoice financing?
Invoice financing, also known as invoice factoring, allows business owners to finance outstanding invoices. BCashflow Positive invoice financing advances you immediate cash collateralised by your unpaid invoices. It’s a great way to ensure you can still be on top of your operating expenses when your customers are slow in paying their invoices.
Invoice financing is also a great way to boost working capital when your company is experiencing rapid growth.
BCashflow Positive invoice financing
Applying for invoice financing with BCashflow Positive is simple and fast. Our online application takes 3 minutes to complete and an approval can be provided in as quick as 24 hours.
How invoice financing works?
Accessing funds from your unpaid invoices is as easy as 1 2 3:
1. Send us copies of invoices you wish to draw funds against.
2. Up to 90% of the invoice value is credited to your account in as quick as 4 hours.
3. The remaining 10%, less any accrued fees, is transferred to you when your customer pays us.
For more information on invoice financing with BCashflow Positive, call us at 1300 937 292, or fill out our quick contact form and we will be in touch shortly.
Scale your business by factoring your accounts receivableSep 25 2018 in Business Cash Flow, Invoice Factoring
Are your clients taking up to 90 days to pay invoices and it is affecting your cash flow?
Factoring your accounts receivable can be a great solution to cover the gap of slow payments. It can also save you time as factoring companies like BCashflow Positive will also assist with the follow up of outstanding factored accounts.
As a business, any strategy you can incorporate to enable you to focus more on growing your business, is invaluable.
How does accounts receivable factoring work?
Accounts receivable factoring is an easy process and a fast way to get your invoices paid immediately. Here’s how it works with BCashflow Positive:
1. Invoice your clients for services or work completed and send BCashflow Positive copies of invoices you want funded.
2. BCashflow Positive will credit your account with up to 90% of the invoice value in as quick as 4 hours.
3. Once your client pays the invoice in full to BCashflow Positive, we will credit the remaining 10% to your account, less any accrued fees.
Advantages of accounts receivable factoring
Expanding your business is much easier with the available cash provided by accounts receivable factoring. You can add on more equipment or staff, implement new marketing strategies, or introduce new products.
You can also take advantage of supplier discounts by paying early, or get on top of your ATO obligations.
Why accounts receivable factoring with BCashflow Positive?
BCashflow positive is a leading Australian factoring company with over 28 years’ experience and offices nationwide. Other key benefits include:
· Fast approvals: Within 24 to 48 hours.
· Flexible funding: You can choose what invoices you would like funded.
· Transparent Fees: Use our online calculator to work out exactly how much funding you can get and how much it is going to cost.
· Industry Experience: We provide flexible cash flow solutions to a wide range of industries.
For more information on accounts receivable factoring with BCashflow Positive, call us at 1300 937 292, or fill out our quick contact form and we will be in touch shortly.
Invoice finance vs business loans: Which is right for you?Aug 21 2018 in Invoice Finance
If you operate a small business and are looking to gain fast access to extra cash flow, then both invoice finance and business loans can be good choices. In this article, we will explore the advantages & disadvantages of both.
Invoice finance works by using your invoices as collateral to gain access to your money now. You can essentially get funds owed to you ahead of time. For example, instead of waiting up to 90 days to get paid by a client for a $500,000 invoice, you can receive up to 90% of the invoice value from an invoice finance company like BCashflow Positive, in as quick as 4 hours.
Some of the benefits of invoice finance are:
– Instant cash flow
– The more sales you make the more cash you can get
– Cover the gap of slow payments
– The process is usually much swifter and easier than securing loans
– Suitable for startups requiring working capital to expand
One of the disadvantages of invoice finance is that it is not suitable for all businesses. To find out whether invoice finance is suitable for your business contact BCashflow Positive today.
A business loan is a creation of debt by a business, which is paid back over time with added interest. One of the core benefits of acquiring a business loan is being able to spread out repayments over time.
The downsides of securing a business loan are:
– Business loans typically take a long time to process
– You may have to put up large amounts of personal or business collateral to secure the loan
– You might not be eligible if you’ve not been in business long enough
Making the right choice for your business
If you are in need of quick funding to help seize an opportunity, then invoice finance can be a great alternative. BCashflow Positive invoice finance provides fast 48 hours approval and funding can occur in as quick as 4 hours. We aim to be open and honest with all businesses looking to use our service. That’s why we have a handy calculator, which lets you work out exactly how much you will be charged and how much funding you can get. To find out more call 1300 937 292 today!
The Importance of Positive Cash Flow for SMEsJul 20 2018 in Business Cash Flow
Cash Flow is a great signal to indicate the health of Small To Medium Enterprises (SMEs). Positive cash flow puts a company in a better position to grow and sustain the business.
However, if the business cash flow is constantly in negative, there should be an immediate concern to find out what is causing the problem. Not all situations are alike. However, many common issues can be solved by taking advantage of debtor financing with BCashflow Positive.
What is Cash Flow?
Cash flow takes into account the total amount of cash you have on hand. It looks at the total cash from one billing period to the next and compares money in with money out.
If you have money left over, you are cash flow positive. And if you’re left with a negative number, then you’re cash flow negative.
Why is Positive Cash Flow Important?
As the saying goes, “Cash is King,” and for a good reason. Having surplus cash is necessary for meeting operating expenses like wages, and unexpected expenses that might pop up like servicing equipment that requires maintenance.
There are many reasons why a company is cash flow negative. Poor cash management is a common factor with SMEs, which can lead to problems like restricted growth or worse, insolvency.
Even a profitable company has the chance of going out of business when the negative cash flow is a long-term issue. The lack of available cash is what can cripple a business over time.
BCashflow Positive Can Solve Your Negative Cash Flow Problem
A prime contributor to negative cash flow is slow payments. This can cause a huge strain on a company’s cash flow, particularly if clients can take up to 90 days to pay.
Debtor financing with BCashflow Positive can provide your business with immediate cash flow and it is as easy as 1 2 3.
1. Invoice your clients for sale of goods or services and send BCashflow Positive a copy
2. Get up to 90% of the invoice value in as quick as 4 hours.
3. Receive the remaining 10% when your customer pays us less any accrued fees.
Call BCashflow Positive today on 1300 937 292 and get cash flow positive!
Debt Factoring – A great alternative finance optionJun 27 2018 in Invoice Factoring
Poor cash flow can pose significant challenges for any business. BCashflow Positive’s debt factoring can improve your business cash flow by injecting immediate cash into your business. It is a great alternative finance option for businesses needing additional working capital to finance growth and to keep on top of operating expenses.
Australia’s demand for alternative finance continues to rise
According to a study conducted by KPMG, Australia’s alternative finance market has grown to be the second largest in the Asia Pacific just behind China.
Invoice trading is also known as debt factoring in Australia was up by 24 per cent to US$129.91m in 2016.
What is debt factoring?
Debt factoring allows your business to finance your sales invoices instead of waiting up to 90 days for your clients to pay. The factoring company pays you a portion of the total amount owed on your invoices allowing you to instantly improve your cash flow.
How does debt factoring work with BCashflow Positive?
Convert your invoices into cash in three very simple steps:
1. Send us copies of invoices you would like us to fund.
2. We will verify your invoices for accuracy and transfer up to 90 of the invoice value to your nominated bank account within 4 hours.
3. Receive the remaining 10% less any fees accrued when your customer pays us.
What are the benefits of debt factoring with BCashflow Positive?
With Banks tightening their credit policies, debt factoring with BCashflow Positive can be a flexible alternative finance option. There is no property security required, no quarterly audits, fast approval within 48 hours, and funding can occur in as quick as 4 hours.
Debt factoring can help your business cover the gap of slow payments from clients, finance growth by improving cash flow and working capital and keep on top of ongoing expenses like wages and ATO obligations.
How much does debt factoring cost?
At BCashflow Positive, we pride ourselves on having a transparent fee structure. We are completely upfront about our fees from the very beginning, ensuring there are no surprises. Our fee is 1.8% for the first 30 days and then 0.06% for each day after that, for up to 90 days. Give our fee & funding calculator a try now.
Improve your business cash flow with debt factoring today
Call us on 1300 937 292 or fill out our quick contact form and we will be in touch in 1 hour.
Australian Factoring Company – Funding You Faster With Electronic DocumentsMay 04 2018 in Invoice Factoring
For years now, our aim here at BCashflow Positive has been to support local Australian businesses by helping them to access cash flow ahead of time. This has allowed our customers to seize opportunities and grow at rates they would otherwise be unable to achieve. As a leading Australian factoring company we are constantly looking at ways to get funds to our customers faster. A thorn in our side has been the slow set up and settlement process, mainly caused by postal delays. Well, not anymore.
Australian Factoring Company – Using DocuSign to speed up our processes
We have taken a bold move to adopt new digital documents, which has allowed us to help serve our clients faster than ever before. By utilising DocuSign technology, we can fast-track the entire document setup and settlement process. Instead of taking up to 10 days, we can now complete settlement in as little as 48 hours. But how exactly? The typical setup and settlement process previously starts with us drawing up the necessary documents and then posting them to our clients. With standard delivery times and possible delays, we find this can take between 3 and 5 days. The client then needs to read, approve, sign and return the documents. Again, this adds an extra 3 to 5 days to the process. However, by using DocuSign, we can immediately send the necessary documents to our clients online. Then, once they have approved them, they can electronically sign them and send them back to us. By removing the entire delivery process, the only thing standing in the way of our clients and their funds is the time it takes for our solicitors to draw up the documents and for the client to read them.
How safe is DocuSign?
Protecting sensitive data and meeting strict industry regulations is of the utmost importance to us. We would never want sensitive information to fall into the wrong hands and have always taken suitable steps to mitigate any such risks. In fact, by adopting DocuSign technology, we are able to make our processes even safer. Here’s how: Whenever a document is sent through DocuSign, they ensure that all data contained is fully encrypted. In fact, they are able to meet the very strictest regulations by utilising the best data encryption technology that is currently available. What this means is that using DocuSign to transfer and sign files is far safer than sending them the old-fashioned way. Human error and chances of documents going missing are reduced. Instead, they are only ever shared between our company and the clients we work with. This allows us to ensure complete client confidentiality and give total peace of mind.
How does a factoring company work exactly?
If working with an Australian factoring company is something you have been considering, then here is how the process works with BCashflow Positive.
- Simply invoice your clients as usual and send us copies of invoices you would like funded.
- We will credit your account with up to 90% of the invoice value in as quick as 4 hours.
- The remaining 10% is made available once your client pays us.
The benefits of working with Australia’s leading factoring company
By choosing to work with a reliable Australian factoring company, businesses can access a whole host of benefits, including the following:
- Gaining access to invoice funds in as little as 4 hours.
- An incredibly fast 48 hours approval process
- Fast account set up and settlement process.
- Having access to key decision makers.
- Being able to cover the gap of slow payments.
- No need for property security or quarterly audits.
- Having the freedom to choose which invoices you want funded.
Get started today
As mentioned, our primary mission is to help support an increasing number of Australian business owners in their attempts to scale and grow their companies. To do so, we offer a swift and easy way of accessing funds, which is now more secure than what is being offered by our competitors. Better yet, getting started is very easy. Simply contact our team and explain your needs. Then, we can see if we are the right fit for you and get the process moving. We will also be happy to answer any other questions you might have.