Invoice factoring forum4/11/2023 Ouch! Imagine if your largest customer went bust or couldn’t pay you. This means if your customer doesn’t pay their invoice, you are still ultimately on the hook. Most factoring services are not non-recourse. Factoring means customer non-payment is on you. If that didn't sound good enough, instead of hassling your customers to pay you, Resolve acts as your trusted Accounts Receivable partner by providing a smooth B2B payments portal experience for your customers and customizable payment reminder options. Wouldn’t you rather have a single credit check that unlocks an ongoing line of credit? This way, you have the ooption to use Resolve’s advance pay option at any time, with less red tape, and get cash payouts within 1 day. And not just one invoice! Resolve will advance pay multiple invoices from your customer until that customer’s credit limit is reached. Once your customer is approved, Resolve can even advance pay their net terms invoice to you (30, 60, 90 days) within 1 day. We perform a one-time reliable, sophisticated, and fast ‘quiet’ business credit check on your customers before approving their line of credit. Also, factoring is very much a ‘one-off’ type of service that doesn’t care about your ongoing relationship with your customers. This means you’re forced to wait for a decision every time you want to unlock cash flow from a single invoice. Working with a factoring service requires you to go through an invoice-by-invoice application process. Plus, we'll share 8 reasons why you should avoid invoice factoring. If you're looking for an alternative to factoring, this guide is for you. But the truth is: we couldn’t be more different. Resolve is often compared to factoring companies and invoice financing.
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