This model advances hand in hand with the implementation of electronic invoicing. It is also an investment opportunity for individuals through crowd funding platforms. Perhaps you have experienced the complicated situation of accepting some payments from their customer’s longer terms to 30 days. It is most common, when they pass handled large customers, their accounting closures do not always match the cash flows of small and medium businesses. Many bills run the possibility of being paid in periods for business owners sometimes become a bottleneck.
Indeed, by 2018 Colombia should be migrated completely to the electronic invoice process that should be completed in January 2019. One of the advantages it brings the development of this mechanism is that any business can access the factoring, where the establishment receive money. Instantly, in exchange for accepting a discount on the bill, while a third is responsible for collecting the payer of the bill in the stipulated period. Continue reading “How to use factoring to grow your business?”