Are You Happy with Your Small Business’s Shipping Options?
This is the busiest time of the year for many businesses. As consumers collect the items that we want to give to their loved ones as holiday gifts, there is an entire industry behind the scenes that transports the goods that are in demand. From trucking factoring services to freight broker companies, there are many platforms that allow producers to get their products to consumers.
If you have already ordered something to be delivered this holiday season, then you have likely discovered that some of your orders are delivered in several parts. As more and more retailers move away from warehouse locations where all shipping originates, there more shipments that originate from actual retail locations. These more complicated delivery methods require very detailed and accurate business invoice factoring for businesses to be successful.
Business Factoring Companies Provide Valuable Services for Shipping Companies of All Sizes
Few businesses today can survive without an online ordering process and delivery system. It only makes sense, then, that the delivery system your company uses will play a vital role in the success of your company. Consider some of these facts and figures about the services that transportation factoring companies offer and the impact that they have on the success of a business:
- The latest research indicates that there are are nearly 28 million small businesses in the U.S.
- Invoice factoring is a type of accounts receivable financing that converts outstanding invoices due within 90 days into immediate cash for your small business.
- Factoring companies can help small businesses bridge invoice payment gaps with upfront payments as high as 90% of the original invoice.
- Offering the biggest advantage, factoring companies can help small businesses avoid waiting 60, 90, or even 180 days for customer payments.
- Nearly 12 million trucks, locomotives, rail cars, and vessels move goods across the world’s transportation network.
- As many as 60% of invoices are paid late.
Business invoice factoring plays an important role in the success of many companies, both large and small. Helping bridge the gap between when invoices are sent and when they are paid, business invoice factoring providers play an integral role in helping a company meet its own financial obligations.