Raj and Fiona started computer consulting for friends as a side hustle and the business quickly grew into a full-blown professional computer company with a focus on consulting, service, and quality. The team has thus far been able to set themselves apart from the competition and make a name for themselves in a rapidly growing and evolving industry. Because of their ability to be flexible and responsive, as well as providing clients with unique solutions, Raj and Fiona have numerous requests from entrepreneurs and existing companies.
Raj and Fiona have gained a reputation for providing cutting-edge products. Furthermore, with exceptional skills, they create tailored solutions for their clients in a cost-effective manner. Recognizing the need to hire additional technicians and equip them with vehicles to meet growing demand, they face a challenge. Moreover, their client base is set up on a contract basis, and many existing clients are slow payers, which can inhibit their cash flow.
To increase cash flow for hiring additional technicians and providing company vehicles without resorting to a traditional loan, Raj and Fiona discover invoice factoring. This financial strategy allows them to “sell” unpaid invoices. It provides the necessary funds for expansion. Because invoice factoring offers low fees, it emerges as the ideal solution for their needs. Additionally, it requires only a short commitment. With invoice factoring, the business can maintain cash flow solvency. It can also expand as necessary to meet growing demand.
Raj and Fiona initially employed invoice factoring as a result to hire a new technician, equipping her with a cost-effective vehicle for client visits. Subsequently, shortly thereafter, growing demand necessitated the addition of a second technician and vehicle. This expansion was facilitated by the increased cash flow obtained through additional invoice factoring. As demand keeps rising, invoice factoring remains the ideal solution for their expanding computer business. Furthermore, unlike traditional loans, it doesn’t pose the usual obstacles and challenges. Instead, in fact, it enables them to assess their monthly cash flow requirements and make necessary adjustments.
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.
