Published at Tuesday, March 19th, 2019 - 02:10:45 AM. Invoice. By Fayette Hebert.
Invoice factoring lets you unlock cash that’s tied up in your unpaid invoices. Obtaining cash this way can be an easy, effective tool to solve small or medium size businesses financial challenges. Invoice factoring might be right for your business if you lack adequate working capital to maintain your operations or expand to the next level. Perhaps you’ve considered other options like bank loans, lines of credit or credit cards. But if your company doesn’t have enough financial stability or business credit, invoice factoring could be the perfect alternative to bank financing.
Invoices that arrive in AP without a PO number can be very problematic, which can take the team a lot of man-hours to manually process them. AP may receive non-PO invoices when a supplier has provided products or services to the buyer without receiving a purchase order. Many different challenges can arise when processing non-PO invoices, which may include difficulty identifying the purchaser and original authorize – making the approval process lengthy and a higher risk for errors.
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