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IDeal, the new paperless invoice finance product from Close Invoice Finance, is
threatening to take the invoice discounting industry by storm.
Completely web-based, the IDeal solution integrates seamlessly with accounting
packages, and because all invoicing and customer payment transactions are
conducted through IDeal, the system automatically self reconciles on a daily
basis.
As David Thomson, CEO of Close Invoice Finance explained: "The fact that the
system reconciles on a daily basis rather than monthly has a big impact on the
funds available to our clients.
"We have seen gains in funds available to clients up 15% when compared with the
old fashioned way of reconciling monthly.
"That's extremely important to our clients as all our research shows that
increased funding is one of the most sought after features of any Invoice
Discounting facility."
IDeal is available to any business with UK sales of at least £200,000 per year.
It is particularly suitable to business that have previously only been able to
access factoring type solutions from other providers or who have not been able
to gain an invoice discounting facility because of stringent qualification
criteria.
In addition, IDeal operates on a fixed monthly administration charge set
accordingly to the turnover of the business, to ensure that companies know
exactly in advance how much IDeal will cost them in any given year.
Thompson added: "Having instant access - up to 95% of your sales ledger value,
and knowing that your working capital resources will always keep pace with your
growth, comes as a relief to any business.
"Removing the administration hassle as well, means it really is a new era for
businesses."
Source:
Credit
Control Journal
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