Business owners in the highly competitive software industry know that timing can be crucial to their company’s success or failure. Companies must be poised to take advantage of business opportunities immediately as they present themselves.
Cash flow shortages can prevent a software company from taking advantage of opportunities to increase sales and grow. Customers will quickly take their business elsewhere if a company is unable to fulfill their requests. Software company factoring provides the solution by turning a company’s unpaid invoices into cash.
Large corporations can rely on capital reserves to satisfy cash flow demands, but most small businesses in the software industry do not have extensive capital reserves from which to draw. Software company factoring takes the accounts receivables of a business and quickly converts them into working capital to be used any way a company owner chooses.
The advantages of using software company factoring to put unpaid invoices to work include:
- An online application process that is quick and easy to complete
- Quick review of your application
- No monthly payment to burden a company’s bottom line
- No demand for investigation of a company owner’s credit history
- No complicated, time-consuming bank loan application
Factor Funding Co. has been providing unique software factoring solutions nationwide to companies of all sizes. A software company can get up to 95 percent of its outstanding invoices converted into immediate cash from Factor Funding Co.
Because it is not a loan, there is no monthly payment for a company to make. Factor Funding Co. collects the outstanding invoice balances directly from the software company’s customers. The software company owner is free to focus on running the company without worrying about collecting unpaid invoices or making monthly payments to a bank or finance company.
The money a business receives through invoice factoring can be used to fulfill customer orders and other uses, including:
- Meeting operating costs and payroll demands
- Hiring additional employees to fulfill customer orders
- Taking advantage of growth opportunities requiring immediate working capital
GET IN TOUCH WITH FACTOR FUNDING
What better way to finance your business than with an expert with decades of experience helping other software company owners grow their businesses?
Running a business isn’t easy, and figuring out financing on your own is even harder. Waiting around won’t help you pay your expenses.
Reach out to our financing experts to chat about your financial needs and learn how we can partner with you to help you achieve your business goals. Here’s to your success!