Claims And Cash Flow
Invoice Factoring Claims And Cash Flow
Author: Stephanie Clarke
Date posted: 04.10.23

Joseph’s company provides a unique service – generic claims outsourcing services. He utilizes a state of the art delivery platform along with proprietary software to provide his company services, bringing insurance carrier car damage claims to autobody repair shops to help claims get resolved fast while providing significant cost savings. Currently Joseph’s company contracts with a number of high volume carriers to whom he is able to deliver lower costs with highly advanced claim processing services.

Joseph’s business is growing rapidly and in order to keep up, he needs to continually ensure his company operates with the latest technology. The growth has created a financial crunch with the necessary hiring of new employees as well as the ongoing upgrades of the latest software and hardware required to stay ahead of the competition. Joseph needs his cash flow to continue to serve his current clients as well as adding the latest influx of clients to his roster.

 

Joseph presently invoices customers monthly; however, a consistent delay exists, with numerous clients adhering to a 60-day payment schedule. This situation significantly contributes to his ongoing cash flow challenges. Despite examining several loan options, Joseph found that traditional loans did not suit his needs. It was then that he discovered invoice factoring which seemed the ideal solution for his cash flow requirements. Invoice factoring would provide Joseph with the flexibility he needs. He could cover operating expenses, ongoing maintenance and upgrades, and meet payroll as necessary.

Claims And Cash Flow

With invoice factoring, Joseph will “sell” unpaid client invoices thereby accessing the case flow he needs for short term finances. Plus, invoice factoring promises low fees without the long-term commitment of a traditional loan. Joseph can consistently uphold cutting-edge hardware and software to enhance customer service. Furthermore, through invoice factoring, he can guarantee regular employee payments and monthly coverage of operating expenses. As an additional benefit, he can concentrate on business growth without the concern of cash flow problems.

Invoice factoring empowered Joseph to cover payroll for additional employees, maintain cutting-edge software and hardware, secure new client contracts, and successfully handle claim resolutions, all within his 18-month window of engaging multiple clients; furthermore, Joseph retains control over the extent of invoice factoring, ensuring financial stability despite extended client payment terms, without the complications of conventional loans.

Claims And Cash Flow
About The Author | Stephanie Clarke

Stephanie has a bachelor's degree in psychology and has been a professional writer for over 15 years. Her client list includes New York Times bestselling authors, publishing houses, prominent public figures and successful business owners. She resides with her family in Florida.

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