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Have you ever considered a business-factoring loan? If not you may want to. Factoring is used when firm cannot meet its current obligations and promote growth because its available cash balance in insufficient. It is a financial transaction where a business discounts and sells its accounts receivable or invoices to a third party, called a factor. This transaction allows the company the ability to finance business growth because they will receive the cash immediately. Also, factors can make funds available even when a bank loan is not approved because approval is based on the credit worthiness of your company’s debtors.
The factoring transaction has three key parts:
The advance- a percentage of the invoice, the amount the factor pays the seller.
The reserve- the remainder of the total invoice amount, it is the amount that is paid back to the seller when the debtor pays the invoice.
The fee- it is charged to the seller for the transaction and is deducted from the reserve.
Factoring could benefit your business if:
You have clients who take two or three months to make a payment because your business is seasonal in nature.
Your business needs an immediate lump some of cash.
You would prefer more flexibility than a traditional loan offer.
You have credit worthy customers.
When choosing a quality factoring service provider make sure they are professional, have a good reputation, and they are knowledgeable about your business and its needs. If you find the right one, they can be a tremendous help. InsideUp can help you find the right service provider for your business. We can set up free quotes for you from different service providers that have already been screened.
Quality leads are Essential to every successful business. In a recent InsideUp survey, successful B2B marketers listed access to quality leads among the top five factors that had contributed to their success! The Direct Marketing Association conducted a study and had some interesting finds. They found that, lead generation activities account for about 65 percent of most marketing budgets.
B2B marketers are funneling more and more dollars toward online marketing and lead generation. A warning to consider when purchasing leads: some lead suppliers engage in unrefined, generic lead-gathering practices, resulting in low quality, unqualified leads. Such companies have a history of providing un-targeted leads and offering only a single price level, giving their customers no control over lead selection.
There are ways to be certain you’re getting top quality, targeted leads for your business. Today’s B2B lead gen companies leverage Web 2.0 technologies, social networking and innovative online business-matching platforms to connect with a multitude of business service seekers.
Online lead generation solutions that utilize social media are very cost effective. Advances in online technology enable B2B lead suppliers to educate prospects, build trust and create brand recognition for their clients while generating quality, ready-to-buy leads.
Tracking the results of various marketing and lead generation efforts allows companies to better allocate marketing dollars for optimum ROI. For example, if the cost of each lead from a trade show is $500, but it only takes $100 to generate an online lead, that $500 expenditure would be acceptable only if your ROI on trade show leads is five times higher than that of leads acquired online.
Companies, whose average customer purchase is about $20, typically spend much more than that to acquire each new consumer, realizing that over a period of several years, that customer will likely spend thousands of dollars.
It is beneficial to calculate the lifetime value of a single customer to reveal the true value of the investment in leads to acquire that customer. In your calculation, factor in the repeat purchases from that customer. This can give you a forecast on how much profit your company can gain from the business relationship.
Customer lifetime value reflects the present total value of a customer to the company over his or her lifetime. When we discuss CLV, we are typically discussing to the value of a single customer, using the average sales of such a customer.
InsideUp has pioneered new ways of connecting service providers with buyers, as a result, it has become the leading platform to acquire new business customers.
Our unique and exclusive platform, allows our customers to be matched with and provide custom quotes to targeted, ready-to-buy decision makers. InsideUp also offers a lead clearinghouse, which allows customers to select the type of leads they wish to purchase.
Did you know you might not be fully protected under your auto insurance policy? If your policy does not cover professional use and you are using your vehicle for any other purpose besides driving to and from work, you may not be protected. If you own a business that requires a lot of driving, you should do some research and check your policy to make sure you are covered. Chances are you are not.
There are many benefits to maintaining commercial auto insurance for your business. For example, if an employee is injured while driving one of your vehicles, workers compensation can assist you by paying benefits. A commercial auto insurance policy can also provide coverage for employees driving their own vehicles for business purposes, Which can protect you and your business from liability.
Although there are many benefits to having a commercial auto insurance policy, there can also be some downsides, one of them being the costs. Getting the right amount of coverage for your business can be expensive, making insurance difficult to attain. As a result, you may try to reduce costs by getting a less expensive policy that is not adequate for your needs. On the contrary, you could also end up in a situation where you are over insured and paying more than you need to. All of these situations can be avoided by doing a significant amount of research before choosing a policy. Even if you are satisfied with you commercial auto insurance policy, you should compare auto insurance quotes to see if it is time to consider switching companies. You should compare 3-5 quotes from different companies including your current carrier. There is a good chance you will get a better deal. Be sure to compare things like deductibles, coverage levels, and benefits side by side to ensure you are getting the best deal for your money.
Business auto insurance coverage is a very important safeguard for your company. Don’t leave your business vulnerable to unnecessary threats. InsideUp can assist you in finding the right commercial auto insurance for your business, with highly competitive quotes from top service providers.
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via Ethan McCarty, IBM, in wired.com