Many businesses suffering from persistent late payment of invoices by their customers choose to engage a factoring company as a means of freeing up working capital. The BPPG has launched new information on its website, www.payontime.co.uk, to explain in more detail the services that a factoring agent can provide.
In addition to improving cash flow, the use of a factoring company means the business is able to cut down on the amount of time it spends chasing outstanding debts, allowing it to concentrate instead on generating new customers. At the same time, the business is also benefiting from professional sales ledger management, which helps get invoices paid more quickly.
