Christmas 2020 will be one for the history books, a festive season to end a year where happiness, joy and good tidings were not had by all. Businesses have worked beyond any expectations to keep their businesses financially secure, and many will have a long list for Father Christmas! So this Christmas, what better gift for your business than perhaps the Gift of Invoice Finance?
Cash Flow, Time & Peace of Mind
Three key areas, which may have been out of reach in the last few months of the year and 2021s prospects look no brighter. This may have forced business to follow a different path and see in near sight financial stability and recovery.
Financing trends are shifting;
// Getting any form of credit in the current market will be firmly scrutinised by any funder.
// Trade Credit, not bank finance is fuelling the growth of SMEs and business investment (ICAEW)
// Late payments are not occurring within some industries, but all.
// Businesses with manual accounts receivable processes are having 30% longer average DSO (days sales outstanding) and take 67% longer to follow up on overdue payments. PYMNTS
// Invoice Finance is in high demand. During the financial crisis, the factoring community took up the slack as banks pulled out of financing arrangements, the COVID crisis will force a repeat of this transition. CFI
Invoice finance could be the shining star you a looking for. Sell your accounts receivable, essentially transfer the trade credit contract to another party, and receive a lump sum payment for that invoice.
At GRENKE we’ve been continuing to support our customers to get through 2020.
Our receivable management service provides:
- Payment within 24hours on their invoices – CASH FLOW
- Essential support to businesses without the time to chase payments, offering a professional and consistent service to collect payment on your debts - TIME
- Protection against bad debt, GRENKE take the risk of non-payment – PEACE OF MIND
It’s time to turn a corner on 2020, and bring in the end of the year with that special gift under the Christmas tree – business security. Place your organisation in the best position possible for launching into 2021. Why not speak to our team today, there is no time like the present…(get it?)
Give yourself the gift of invoice finance!
Get in touch today.