Outsource Your Accounts Receivable Management With Factoring
Source: Evan Carmichael
One particularly time-consuming task that gobbles up untold hours of many employees' time is the management and collection of Accounts Receivable (A/R). Few companies would say that this task contributes directly to their ability to create products or deliver services. But there's no denying the importance of A/R management and collections to the success of any company. You might not realize it, but there's a way to outsource A/R management and collections in the same way that you may be outsourcing your payroll, HR or IT functions. It's called factoring. With factoring, businesses sell their outstanding receivables to a commercial finance company at a discount.