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3 Invoice Factoring Services You Should Know

3 Invoice Factoring Services You Should Know

Invoice factoring is one of the solutions for short term issues in cash flow. Suppose you need cash right away, but customers can’t pay for services or goods until later; this is where invoice factoring, along with invoice financing, can convert your unpaid invoices into faster cash. But don’t consider invoice factoring as loan. It is a process in which you sell your invoices at a discount to any invoice factoring company; in exchange, the company will give you lump sum cash.

In turn, now the factoring company owns your invoices, and they get paid when they collect from your customer, who has a stipulated time period of 30 to 90 days. The discount rate can vary from 1-5%, depending on invoice amount. The pros in this case are easy approval, fast cash, and improved cash flow. However, it is also costly, you lose direct control, and a customer’s bad credits can derail your finances.

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Here are three resources that can help you with your invoice factoring.

1. FactoringClub

FactoringClub is a web directory service that provides you with in depth information about invoice factoring companies, such as locations, descriptions, credit facilities, terms, services, industries served, contact information, features, and more. Any business owner looking for accounts receivable financing will find the right invoice factoring company to cater their needs on the FactoringClub site. It can help you find a company based on location, name, keywords, and industry.

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Finding the right factoring company for your business requires common sense and research. You can find companies with specialties in accounts receivable financing, commercial finance, purchase order financing, invoice factoring, equipment financing, and asset based lending.

FactoringClub helps you save time and stress. People tend to rely on reviews to find realistic insights of companies, but reviews may not always be true; FactoringClub gives you the option to talk their reputable factoring brokers, who can provide you with an unbiased opinion about any factoring company listed on FactoringClub, or they can recommend you a factoring company based on your needs.

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After providing the details of your business, you can compare the cost of different factoring companies, which will determine a cost based on how much you intend to spend per month, expected average invoices, days outstanding, and customer credit.

2. American Receivable

American Receivable provides an excellent invoice factoring service with strong support, no extra fees, and good rates. It has solid eligibility requirements and customer support systems, and offers stellar features, non-recourse factoring, and no commitment minimums, which makes it great for business. You will have a dedicated account manager, who will have complete knowledge about your account and information required for processing.

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American Receivable offers flexible factoring services for both short and long term business. They have made it easy for small businesses with credit ratings to qualify for factoring, in spite of rigid requirements. They focus on your customers’ creditworthiness, but not your business’s credit history or revenues, and they offer generous factoring terms that will help business with cash flow. They do not limit the number of invoices you can submit, and you can submit an application online, or through fax. The recovery days are up to 120 days.

3. Riviera Finance

Riviera Finance is an invoice factoring service that offers competitive rates, fast turnaround time, and various services, such as non-recourse factoring. They will buy any invoice, regardless of how overdue it is. You can start with Riviera Finance by filling out a form, or online submission. For small or medium sized businesses, they offer great security, which means they have freedom to explore new opportunities and expand.

They specialize in small business financing, invoice factoring services, business cash flow solutions, and accounts receivable management. They offer 24-hour guaranteed funding, skilled employees, application interfaces, and the highest cash advances in the industry; accounts are available online 24/7, no set up fees are required, and no long term contracts are mandatory. The only drawback is you have to pay a termination fee if you choose to stop factoring with them.

So try out any of these services to ease your cash flow and have improved business transactions.

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Abhay Jeet Mishra

Writer at Lifehack & Enterested.com

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Last Updated on October 16, 2019

11 Meeting Scheduler Apps to Boost Your Productivity

11 Meeting Scheduler Apps to Boost Your Productivity

Automations are key to improving efficiency. Set the system up right from the beginning and you’ll reduce the amount of no-shows and cancellations.

Whatever your business is, with automations, meeting scheduler apps do more than just streamline appointment setting. They prime your workflow for maximum results.

Meeting scheduler apps are awesome if you use them right. Use them wrong and you can look like an arrogant elitist.

In this article, I will share with you 11 great meeting scheduler apps you can start using today to boost your productivity.

1. ScheduleOnce

    ScheduleOnce is an industry leader and robust solution. Whether you work alone or have a large team, ScheduleOnce can support you.

    ScheduleOnce allows you to create multiple users and multiple calendars. I use one calendar for booking podcast guests with automations set up to prep my guests for our interview. I use another calendar for strategy sessions and coaching calls.

    ScheduleOnce also has embeddable widgets so you can keep the scheduler inside your own website.

    Starting at $7 a month and a 14 day free trial, ScheduleOnce can fit a variety of needs in business.

    Available on Web

    2. Calendly

      Calendly stands out for its clean, easy to use interface. If you like clean design, Calendly might be your choice. It too has robust automations and integrations for individuals and teams alike.

      You can try Calendly free for 14 days. Their basic plan is free while their most robust plan is only $12 a month.

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      Available on Web | Google Chrome Extension

      3. Assistant.to

        For those who use gmail, Assistant.to is a super simple solution.

        From inside an email, you click on the Assistant.to icon and pick times your free. Assistant.to embeds the times directly into the email so the recipient can quickly pick a time that works for them.

        While it doesn’t have all the bells and whistles of apps like Calendly or ScheduleOnce, Assistant.to is completely free.

        Available on Web

        4. Acuityscheduling

          Acuity is a robust meeting scheduler very similar to ScheduleOnce. It integrates with CRMs, Email Marketing platforms, Analytics tools and accounting software.

          It comes with a 14 day free trial. They have a free solo account but if you want the benefit of the integrations, you’ll start as low as $15 a month and can cost up to $50 a month.

          Available on Web | iOS | Android

          5. Pick

            Built for simplicity, Pick is direct and easy to use. You can create your own url extension like pick.co/yournamehere and it integrates with Google calendar and Office 365.

            At $3 a month, this is a great tool for quick scheduling.

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            Available on Web

            6. X.ai

              For those who are early adopters of AI, this may be the solution for you. X.ai created two AI assistants they call Amy and Andrew Ingram. After setting up your account you simply CC them on your emails with the person you’re wanting to schedule and the AI assistants will email your guests from there until your appointment is set.

              This type of scheduler feels more personal because of the dialogue. There are stories on their site of people thinking Amy and Andrew are real people. X.ai integrates with Google, Office 365 and Outlook.

              Starting at $29 a month for an Individual account and $39 a month per user for a Team account, Amy and Andrew are ready to schedule meetings for you. Want to try it out first? They do have a free trial.

              Available on Web

              7. YouCanBook.me

                is another competitive solution for scheduling meetings online. You can manage the calendars of your entire team, configure booking forms, and integrate with your calendar.

                They have a free account branded with their company name or you can have some control over your branding and appearance at $10 a month for all their features. Either way, this company is worth a look.

                Available on Web

                8. Doodle

                  Doodle is unique in the space of meeting schedulers because it helps groups of people find a time to meet that works for everyone.

                  It integrates with your calendar and allows you to send a poll to all invited. Once people vote on the poll you can see which time works best for everyone.

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                  You can also run polls for food preferences if you’re scheduling a lunch meeting or a section of town if people are coming from all over.

                  While there is a free account, you’ll unlock it’s potential starting at $39 per year.

                  Available on Web | iOS | Android

                  9. WhenAvailable

                    WhenAvailable is another scheduler that works for groups of people. You can use it to schedule a pickup game of basketball, decide on your next book club or book your family reunion.

                    Their free account allows up to 20 guests, unlimited events and one contact group. For $15 a year you unlock all the goodies including reminders and chat messages.

                    Available on Web

                    10. Rally

                      Like Doodle and WhenAvailable, Rallly is helpful for scheduling meetings and events with multiple people involved. You create a poll and everyone votes. It’s quick and easy.

                      Unlike Doodle, it doesn’t have as many features, but it’s entirely free.

                      Available on Web

                      11. NeedtoMeet

                        Finishing strong, NeedtoMeet is our last app that allows you to schedule meetings or events for multiple people. It has mobile apps, custom urls, easy polling, notifications and commenting.

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                        NeedtoMeet also allows 1:1 Meetings for things like performance reviews for your whole team. You send out the your calendar slots to your team and they can only pick 1 slot, minimizing the amount of emails and scheduling you have to coordinate.

                        While they have a free account, you can unlock all features for only $19 a year.

                        Available on Web

                        Bonus: Don’t Make These Common Mistakes When Using Meeting Schedulers

                        In the excitement of streamlining your scheduling process, it can be easy to forget the feelings of those you’re inviting to meet. I know. I’ve done this.

                        To say “Hey, schedule time on my calendar” feels colder than “Hey, here’s my calendar. To avoid all the back and forth, pick a time that works best for you.”

                        Always make sure to frame your invite with your scheduler app with the benefit to them and why we’re doing it this way rather than the old fashioned, personal way.

                        A little finesse goes a long way. Without it, you risk seeming transactional and cold.

                        Some meeting scheduler widgets you can embed in your site can take a couple seconds to load. If you go this route, make sure there’s text just above the widget that lets your guest know the calendar will appear below and to wait for it to load.

                        If you use an online meeting tool like Zoom, it’s also important to explicitly let them know the meeting will take place on Zoom and include the Zoom link in the email reminder. Many make the mistake of not clarifying where the meeting will actually take place which can create last minute chaos at the time of the meeting.

                        Should you require special settings, like ethernet, external mics or lighting, let your guests know that on your thank you page and reminder emails so they are prepared for the meeting and you end up with the best meeting possible.

                        With clear communication in your automation, your meeting scheduler tools can almost perform like a virtual assistant for a fraction of the cost, or free, depending on the app you choose.

                        The Bottom Line

                        Meeting scheduler apps are diverse in features and unique in design. Before committing to one and realizing it’s not a fit, I recommend exploring which 3 might best fit you and then doing a trial with each of them at the same time so that you can see how they feel as you use them side by side.

                        Scheduling meetings the old fashioned way can be tedious. Conversely, finding a scheduling app that works seamlessly in the background is heavenly.

                        Like cell phones, meeting scheduler apps are moving from a nice-to-have luxury to must-have necessity in the lives of productive people. As you explore your options, stay true to your brand and the tools that have worked well for you to this point and simply find a meeting scheduler app that plays well with what you have created.

                        Featured photo credit: rawpixel via unsplash.com

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