Business Telegraph

The Entrepreneurs

What Is Invoice Factoring & Does My Business Need It?

  • Written by News Company


Are you ready to move your business to the next level but dreading the long and intensive application process? If you need help with your cash flow, invoice factoring is a better solution for you. There is no long application process or negotiations. And there are also no painful finance contracts. Instead, you can apply at TIM’s to get flexible funding options. It’s as simple as getting the cash in 24 hours and using it for your business.

How Much Cash Can I Get?

Tim Finance works with medium-sized and larger-sized businesses. The minimum invoice factoring is $100,000, while the maximum is $5,000,000. It depends on the size of your Accounts Receivable ledger.

What’s the Difference Between Invoice Discounting & Factoring?

Both types of financial services release the funds that you have in your client’s unpaid invoices. The main difference between the two is in who is in control of the accounts receivable ledger together with who is responsible for collecting the money from your debtors. With invoice factoring, the provider of the funds assumes the role of managing the AR ledger, and going after customers to pay their invoices. With invoice discounting your business retains control of its own debtors ledger and you’re responsible for collecting invoice payments the usual way.

How Can My Business Benefit from Invoice Factoring?

Also known as Accounts Receivable factoring, debtor finance, and more. You’ll apply with TIM and transfer your Accounts Receivable ledger or invoices to us, the third party (TIM). In return, you’ll initially receive 90% of the total invoices’ value in cash. You’ll then receive the balance (minus a small discount fee) when the debtor pays. The debtor still has their usual 30-60-90 days in order to pay. Moreover, in recent years, more businesses than ever before have started to use automation tools such as Chaser, Credit Control Automation for Xero, QBO and Sage to tackle their accounting responsibilities in an efficient manner. Accordingly, you can learn more about some of the different accounting automation tools out there by doing some research online.

What Are the Benefits?

You can immediately get 90% of the value of your outstanding invoices, all within 24 hours of approval. There is no need to secure your financing with other funds, assets, or property. Your AR ledger is your collateral. You will be able to use this immediate cash for any purpose you choose: pay off debts, grow your business, or simply reinvest it. You can also benefit from receiving discounts when you pay your suppliers quickly.

If you’re interested in learning more about how invoice factoring can benefit your business, please visit our Tim Finance Invoice Factoring

Entrepreneurs & Leaders

The evolution of gambling - from scratch tickets to online play

If there is something incredible about the evolution of the world, is how incredible the gambling industry has chang...

The Most Profitable Sports To Bet On

You have ever asked yourself what the most profitable sport to bet on is? Well, this is a good question, but it doesn't ...

Top 4 Modern Water Conservation Methods in the Time of Climate Change

Water is probably the second most important thing that all living creatures need to survive (after oxygen or air), a...

Must See Places When Travelling to Dublin

Dublin is the capital of the Irish Republic of Ireland and one of the best places to visit to experience the rich cu...

Brand Design Trend 2021

Many businesses are built and become successful almost at the same time. These overnight success stories are what ev...

About Glenmorangie 12 YO Malaga Cask

If there were a group of friends and they were at a restaurant and it was their first time there and they had no ide...

WordPress Site Design Tips for Small Businesses

Are you using WordPress to build your company's website? Do you have your site hosted and ready to design? If so, then...

Best Electric Scooters for 8 to 12-Year-Olds

So your child wants you to buy him an electric scooter but you are not sure which model to pick. Unlike before, buyi...

Are Casual Employees Entitled to Workers Compensation?

If you have been working as a casual employee in Australia, you understand that your benefits may not be the same as...

When Should You Service Your Air Conditioner?

There is no better way to prepare for the summer months than to make sure your air conditioning system is in tip-top...

How NDIS Can Help Participants In Finding A Job

While disabilities may cause challenges to an affected person, this does not mean that a special needs individual ca...

Your Shelter From The Conflict Storm: The Best Books On Conflict Management For Any Situation

Conflicts await you everywhere – from the workplace to your home to a queue at the supermarket. They all are unple...

Hiring a Reputable Plumbing Company

Having constant clean water supply and regularly cleaned drainages requires a plumbing system in good working condit...

Top 5 Secrets to Getting the Best Property Deals

Most people save for years before they can afford to purchase land or a home. Nonetheless, real estate is lucrative...

5 Brilliant Ideas for Investing Cash in Real Estate Market in 2021

Simply stated, the key goal to invest in the real estate market is to put cash to work today and make it grow so as ...

Advantages Of Solar Panels

When taking care of a home and the property that it's on, people are constantly thinking of ways to improve it. Si...

Effective tips to choose the right incontinence pants

Pull-up pants can suit individuals who have light to heavy incontinence but can be harder to wear in comparison to men’s...

Launching a Multilingual Startup: How to Do It Right

Launching a startup carries many inherent risks. But you can mitigate those risks by learning how to do it right t...

Places for holiday inspiration, plans and where to go

Who on earth wants to lug around a heavy, thick travel guide? Probably not you. Information in an easy to read mobile ...

Playing Online Pokies has Perks

There are many perks and advantages when it comes to playing online pokies, or slots outside of Australia and New Ze...

Implementing workflow automation in a business

Workflow automation identifies the tasks performed by employees using document automation tools and apps. It can b...

6 Steps for Becoming a Digital Nomad in 2021

Digital nomads have always been perceived as sort of freelance rock-stars. Having the world as your office, being ...

Fears That Won’t Let You Build a Good Relationship

There could be a few reasons why you are still single. Someone would say it’s the matter of appearance, others wou...

5 Benefits of Hiring First Page Agency For SEO Services

Search engine optimization is an effective digital marketing strategy that focuses on your website's ranking. Most...

Writers Wanted


News Co Media

Content & Technology Connecting Global Audiences

More Information - Less Opinion