Communication is professional and can often expedite payment by introducing smarter and quicker ways of working, like switching to electronic payment methods as opposed to old-fashioned checks in the mail. The management of the unpaid invoice then becomes the responsibility of the invoice factoring company, which has experts on hand to facilitate the payment. Factoring unpaid invoices with an invoice factoring company effectively "sells" the unpaid invoice to the factoring company in return for a fee, so the company can convert the unpaid invoice into almost immediate cash. Even with clear communication and a trusting relationship between the client and the vendor, managing the transaction, following up in a timely manner, and keeping all of the paperwork up to date, can be a challenging and stressful exercise. This lag in receiving the payment can put a strain on available cash flow, especially at busy times when there a seasonal uptick in business or if a business is trying to expand and move to the next level of turnover. This could be at the end of the month, or in a number of days, typically 7, 10, 30, 60, or up to 90 days in the future. Some business transactions are executed with the terms stating that the invoice is payable at a later date. If these times when cash flow is a challenge are caused partly by a business model where goods or services are delivered with a long lead time on invoices being paid, invoice factoring may be a potential solution. This can often mean a new member of staff is paid for a period of time before they become productive independently, further putting a strain on finances. If there is a high turnover of staff, extra costs are incurred not only in the recruiting process and paperwork but also in time spent mentoring new starts and training them in their role. Making payroll payments on time is important in retaining good staff, and building a sense of trust and loyalty within the business. ![]() ![]() Reliable cash flow is important to most industry sectors, including oilfield service companies, in order to make payroll payments on time, manage expenses, and maintain day-to-day operations when looking to grow an aspect of any business. Factoring for oilfield contractors is a local specialty with the energy industry being of such significance around the Houston area and Texas in general. Houston, TX - ( SBWIRE) - Catamount Funding, one of the premier Factoring companies in Houston TX, offers invoice factoring services to offer a solution to having to wait for invoices to become due and be paid. ![]() Houston Invoice Factoring companies like Catamount Funding offer services including transportation factoring, freight factoring, oilfield factoring, and staffing factoring
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