Selecting an Accounts Receivable Factoring Company for Your Telecom Business
Posted on September 13, 2013 in Telecommunications
Telecommunications is the big technology machine of the world, strung together by telephones, PCs, cell phones and complex networks. The industry has traveled a long journey from smoke signals, telegraphs and beacons. Today, electrical and electromagnetic technologies allow people to speak, do business and watch wildlife in their natural habitat.
At the center of the communication airwaves that connects people all over the world is the telecommunications company. While the telephone calls remain the biggest revenue generator for the industry, advanced network technology is changing the face of the telecom industry. Thanks to the Telecommunications Act of 1996, there is competition to change the way people live, work, learn and play.
If you own a telecom business, you are already aware of the growing interest in text and images over verbal conversations. Services such as high-speed Internet access delivered via mobile networks is the new norm for many individuals and businesses.
Advances such as these continue to generate more business opportunities. Some telecom businesses wholesale circuits to Internet service providers and corporations, which expands their market reach to more customers. Secondary and postsecondary schools can offer online courses to students at home and abroad.
Use Accounts Receivable Factoring for Your Telecom Business
Consider using accounts receivable factoring to make sure your telecom business is poised to thrive in the constant whirlwind of technological advances. Factoring accounts receivables is a proven way to alleviate cash flow problems from delayed payments. With this service, you have a quick, easy way to finance a campaign to market VoIP services to more businesses or to service a new residential development project.
Unlike a small business loan, factoring is a no debt, no liability and no personal guarantees way to receive cash when you need it.Selecting a factoring company involves looking for qualities and services that align with your business goals.
Select a Financially Stable Factoring Company
Just like the desire of your customers to have dependable service, you want a dependable accounts receivable factoring company. Every business owner can attest to the fact that lack of capital is one of the quickest ways to go out of business.
If you need to finance a new equipment purchase that can take your business to the next level, you want to know that the cash – and company – is there. A funding company that shutters its doors can turn your operations upside down when you have no other solution to secure capital.
Reliable service is the core of your telecom business; you should expect the same from vendors and financial institutions.
Generous Cash Advances
Waiting for customers to pay invoices can be frustrating. Technology advances do not wait and neither should you when servicing customers. A generous cash flow can help you deliver on promises. Added to the frustration is waiting for a factoring company to issue a payment. Look for a company that offers generous cash advances and a fast approval process. If you are still waiting after five business days, you are working with the wrong factoring company.
Select an Accounts receivable Factoring Company That Keeps the Process Simple
Included with fast service is a simple process for approving applications. Low receivable rates, easy setup and flexible terms are hallmarks of a good accounts receivable factoring company. Whether you want the company to handle a few invoices or all, you can expect a solid financing solution that involves little or no underwriting.
Every business relationship prospers best when both parties are trustworthy. When you enter into a factoring agreement, you have a new business partner. Seek a company that shares your business values and goals. Otherwise, you might connect your telecom business to a company that puts their interests above yours. Doing so can potentially harm your business operations and disrupt customer relationships.
Expect Dependable, Personalized Service
Essential to a business relationship that you can trust is partnering with an accounts receivable financing company that provides dependable service. You want to partner with a company that knows what you need and consistently provides the services that will help your business prosper. From the first telephone contact to signing on the dotted line, you want a factoring company that works for you.
When in Rome…
The specialized advances in the telecom industry will continue to create business opportunities. To grow and prosper with the proliferation of a connected society, you will need a strong source of financial capital. Simply relying on profits or existing cash flow could hinder the full potential of your telecom business.
Factoring can be traced back to Roman times where promissory notes were sold at discounted prices. Accounts receivable factoring offers tremendous opportunities for your telecom business to grow today without waiting for invoice payments tomorrow.