Our Factoring Support Process

Name: Invensis Inc
Address: 1000 N West St #1200, Wilmington, DE, 19801, US
Telephone: +1 (302)-261-9036
Price range: Contact for customized offers

At Invesis, our factoring support process is crafted to simplify the complex task of factoring. Backed by a team of seasoned factoring experts, we guide our clients through each stage of the factoring journey. We assist you with everything from invoice verification to underwriting and payment. Our methodical approach not only expedites the process but also enhances transparency and reliability.

Trusted by 1000+ Companies

How We Streamline Factoring Processes

Our team simplifies the factoring process through the following steps:

Invoice Verification/Validation
- We first receive invoices from clients (factor) and verify their accuracy based on the checklist provided by the client /factor.
- Verify whether the invoice matches all the other supporting documents, such as rate confirmation and bill of lading.
- Create audit flags for exceptions based on the client-specific checklists.
Credit Check Support Services
- Once invoices are verified, we gather the customer’s financial documents, such as rate contracts, bills of lading, packing lists, lumper, proof of delivery, etc. We also gather credit reports from the respective credit portals, such as Experian or D&B Reports.
- Analyze credit limit and genuineness of the submission of documentation before approval.
- Assess the quality and aging of the accounts receivable.
Pre-Purchase Verification
- Verify the invoices by calling the debtors to confirm the rate and whether the load was hauled by the carrier listed in the rate confirmation.
- This process helps to mitigate fraud and helps the factors reduce their liability and mitigate the risk of bad debts.
Funding
- Once the paperwork is verified by the debtor, we help advance a percentage of the invoice value to the customer.
- Transfer funds to the customer's account within the agreed-upon timeframe.
Post Purchase Verification/Soft Collections
- This process helps to avoid any possible delay in receiving the payments from the debtors.
- We help by calling the debtors' AP team and confirming whether they have received all the necessary paperwork/documents, which will help them make the payments on the respective due dates
- We also confirm whether the Debtor has received the Notice of Assignment (NOA) and whether it is payable to the respective factoring company and not the client.
Accounts Receivable Management/Collections
- Monitor the aging of accounts receivable and follow up on overdue payments.
- Handle collections and resolve any disputes with customers on behalf of the customer.
- Share the escalation metrics reports with the client on a daily or weekly basis to resolve any disputes/claims on the invoices and help release the payment from the debtors.
- Provide regular reports to the customer on the status of their accounts receivable.
Bookkeeping and Accounting
- We also help record all transactions related to factored invoices.
- Maintain up-to-date financial records, including accounts receivable, advances provided, and collections received.
- Ensure compliance with accounting standards and regulations.
Customer Service and Support
- Provide ongoing support for the clients with their onboarding documents and sign-off.
- Address any inquiries or concerns to maintain positive relationships relating to onboarding the clients

To know more about our services, reach out to us!

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Invensis - The Most Trusted Invoice Factoring Support Service Provider

As an established player within the factoring support space, we have been delivering comprehensive back-end support services since 2000 to companies in the US and European markets. Our clientele includes factoring companies specializing in supporting trucking, logistics, freight forwarders, insurance, payroll, pawn, equipment manufactures, and more. We offer an expert team, cutting-edge technology, and unparalleled customer service, to develop and deliver custom solutions for your unique needs.

1000+

Finance & Accounting Professionals

400M+

Invoices Processed

200B+

Value of Invoice Processed

99%

Accuracy Rate

25%-30%

Cost Reduction

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What Our Customers Say

Working with Invensis has allowed us to reduce overhead costs and increase our efficiency. Their expertise in factoring support services is second to none. Outsourcing this to Invensis has been one of the best decisions we've made for our business.

James Frank

CEO, Factoring Firm, UK

Invensis' factoring support services have been an essential part of our decision-making, helping us to stay competitive and profitable in a challenging market. Today, our factoring operations are running smoothly, and our customers are happier than ever.

Vincent Paul

CEO, Third Largest Factoring Company, Canada

Our partnership with Invensis has been a game-changer for our business. Prior to partnering with them, we were struggling to keep up with the high volume of invoices and collections. Their factoring support services have enabled us to bring this under full control.