In our Transportation Tuesday series, we’re partnering with industry leaders to share tips on how you can improve your business success and growth. This week’s tip is brought to you by OTR Capital.
Tip #6: It’s never too late to switch factors
With so many factoring companies across the industry constantly innovating and improving their processes, you may be in a position where your current provider isn’t the best fit for your business.
When considering a new factoring partner, it’s best to first establish what your core needs are. By answering the following questions, you’ll have a better idea of what to look for in a partner:
- Is customer service a high priority?
- Do you need payment protection through non-recourse programs?
Factoring is not normally presented as a short-term engagement. It’s a long-term relationship that supports your business in more ways than just cashflow. Look past the initial cost and find a factoring company that’s willing to invest in your success and has the tools that will elevate your business for years to come.
Factoring can be so much more than just selling your invoices for faster payment. The right factoring partner will also offer services and benefits beyond cashflow, including helping you:
- Negotiate rates
- Gain access to deeper fuel discounts
- Develop other powerful partnerships.
Have a tip to share or want some advice?
If you want to share your own insight and be featured in our next Transportation Tuesday Tip or if you want us to dive deeper into a challenge you’re facing, email us at [email protected].
About OTR Capital
OTR Capital is a factoring company that offers access to quick, easy, and affordable funding for small, medium, and large companies. It’s dedicated to providing the best factoring experience to customers by helping them increase cash flow and grow their business.
You can rely on OTR Capital for:
- True non-recourse factoring
- No hidden fees, no monthly requirements
- Free broker checks