Invoice Factoring For Consulting Firms
The three most important tasks for a consulting company are:
- Finding good talent
- Finding good clients
- Making payroll
Many small consulting firms face payroll problems at one time or another during their growth stage. This happens due to inadequate cash reserve and slow paying customers. It’s actually common for many small consulting firms to have minimal cash reserves because the owners tend to reinvest their all funds in the firm.
Factoring accelerates your cash flow. It reduces the time between invoicing clients and getting funds from your invoices. This provides you with immediate cash, which enables you to pay employees. The most important requirement is that your consulting customers need to have solid commercial credit ratings. This is important because their ability to pay your invoices is critical for the transaction. Additionally, your invoices can’t be encumbered by legal or tax problems.
GMA Factor does not sign you on to any long-term contracts. Get started immediately by filling out the quick application on the right-hand side of this page or go to our online or downloadable application.