A client who works with a number of factors, encounters various "vaults" of rules, and this should be ready. If the company has already worked with one factor, time to get used to the demands, requirements, other factors may at first seem strange and sometimes unreasonable.

For example, all the different speed of decision making and the presentation of the decisions themselves. Not to mention the content part. Already in the process of a pleasant surprise can cause a prompt and resentment - slowness another factoring company. Comfortable interaction and complete service are in this issue of great importance.

Agree that if funding for the payment of one factor requires the original shipping documents after each delivery, and the other makes it through the electronic document, the difference between them is enormous. Instantly track all transactions made online, options, allowing you to view at any time, information about setting limits and the reasons for granting such other amount not - this is very important and valuable as any operational information submitted.

"In our experience, there were cases when the client transfers a part of debtors to other factors, but soon returned them back to us. Any company is always searching for the best solutions for your business, and often comes to them through trial and error. The client decides factoring based on their own understanding of what he wants to get out, and to what extent a particular factor is ready to give it to him, but, in practice, the result may fall short of expectations. "

How to enter factoring business processes

Now let's talk about how to interact with the selected factoring companies how to correctly enter factoring in their business processes and debug scheme of interaction with the factor - to teach the responsible officer of his new duties, and most importantly - to explain to clients the role and place of a factor in their future relations .

No one other than the existing client to a factoring company can not comment on exactly how the introduction of factoring accepted fact his staff what significant positive or negative aspects arise in the future work with the contractors, and the benefits received as a result of the company.

Introduction of factoring is a classic case: the negotiations with the factors to sign a number of agreements, training, customer support (in terms of factors - from the debtor). "At first we did not make any changes, even in our ERP-system - they were afraid that the scheme did not take root, but nothing happened, the scheme worked, and after a couple of months, some of the" this upgrade, "we still do. So that any technical difficulties in implementing factoring, we probably have not experienced, and the staff quickly grasped the essence - there was no problem. "

Harder was given the promotion of factoring clients. Initially, the market reacted with disbelief to the proposal to introduce a third-party settlement. First, the large companies in the industry are quite few, small and medium enterprises, as a rule, do not use complex financial instruments, preferring to work with the supplier in person, the presence of the third party is clearly reduced the possibility of manipulation. "Translation of the first customers was the most difficult to form some kind of practice, get recommendations," market ", it took us over a year. Now fewer problems with this, we have learned to persuade customers to work with their objections, if necessary - to dispel their fears "- sums Mitrofanov.

The most difficult part in the work of factoring is a fact of bringing the essence of factoring to contractors, "and do arise with the signing of the notifications our local debtors. Big waste of time and effort associated with the explanation of why they need it, the search for a responsible person authorized to sign, or simply a reluctance to deal with more clients with a third party on behalf of a factor. "