Cash Management Solutions Experts Share Tips For Optimising Finance Account Receivables

Finance accounts receivable helps companies by enabling them to finance any slow-paying invoices. Also known as factoring and invoice factoring, it is a banking solution that can help businesses that always seem to have problems with collecting due funds. With accounts receivable financing, businesses can get assurance that have sufficient funds to keep their operations afloat.

Below are some steps and tips to fully optimise finance accounts receivable for your business as shared by expert providers of cash management solutions:

Be prepared for the account setup process. A bank or financial institution will determine if your company can be granted this funding solution. They will check various aspects such as the credit quality of your customers or clients, status of your corporate taxes, and your background. If you are applying for a large funding facility, the bank or finance company will also review your company’s financial statements. As such, it is important that you be prepared for all these checks. Once all the checks or investigations are completed, contracts will be signed, the clients or customers will be notified, and the account will be put in place.

Make sure your receivables are ready. When the account is in place, you will then have to select the clients and receivables that will be funded. The list of your chosen clients’ or customers’ invoices will then be submitted to the receivables financing company, together with a schedule of accounts document. This schedule of accounts becomes your formal request for funding.

Wait for the accounts receivable to be verified. Once the bank or financing company receives the Wait for the accounts receivable to be verified. Once the bank or financing company receives the receivables, they verify them with the customer or client. This step is crucial for helping prevent issues in the funding process.

Receive the funds for the batch of receivables. After the verification process, the invoices will be ready for funding. The finance company or bank calculates the advance and deposits the amount in the client’s bank account. The advance pertains to the percentage of the invoice that is funded. It usually varies depending on the industry and other criteria but the general average is 80%.  The advances are typically provided within a business day once the fund request is received by the financing company. The funds are sent to the client either by wire transfer or by direct deposit.

Get updates regarding payments and settlement. Lastly, find out if your customers or clients pay their invoices within schedule. Generally, as soon as the funds are received, the transactions are considered settled. Invoices are then marked as paid and the remaining 20% that was not initially advanced, minus a financing fee, will then be rebated.

Source:

http://www.business.hsbc.ae/en-gb/capability/payments provides more details about cash management solutions.

Benefits Of Providing A Total Rewards Statement For Your Employees

Plenty of companies are making significant investments in the benefits they want to give to their employees. Even if you are offering an attractive benefits package for your workers, it is still necessary for you to fully educate them about what is included in the package. Your organization might still be missing a relevant requirement, which is a total rewards statement.

Total Rewards Statement – What Is It?

A total rewards statement is a personalized document containing details about the overall value of the financial rewards of an employee – incentives, benefits and his/her base pay. It comes in paper or electronic form. Be reminded though that it won’t just show information regarding the pay an employee receives but also allow the employees to see their total rewards entitlement in one place. Every reward item will be explained comprehensively to make sure that items included in the package are fully understood.

Reasons For Providing A Total Rewards Statement For Employees

Awareness of their current employment package will be improved. Definitely, employees know the amount of pay they receive but oftentimes, they don’t know the overall value of their benefits. Apart from that, they might not also be aware of how these benefits were developed and selected to fit their specific needs. By sharing this information, employees will see very clearly how much they are appreciated in the organization.

Employee engagement will be increased. By knowing that their employer has taken the time as well as made an effort to come up with a very advantageous benefits package, employees certainly will be motivated to perform well. Also, they will be able to relate better with their superiors and colleagues.

The overall performance of the organization will be improved. If employees are happy, productivity will surely receive a healthy boost. Most importantly, company objectives will be met. By cultivating an open communication and a positive work environment, the organization will definitely yield and deliver great results.

Every organization today must consider looking into a great total rewards statement as this is regarded as a very crucial tool for keeping employees very much aware of the value they receive. This will also make them be fully engaged at their work. So contact an engagement team you can work with today. They will review your current rewards, choose the right advantages, as well as provide you with all the relevant resources that will allow your employees to get all the information they may need.

Source: www.personalgroup.com offers employee services in one place. They design your employee services programme around you to make your business happier and more productive.

Mistakes Owners Make when Opting For Gym Equipment Finance Options

Health is important for individuals. Thus, more and more individuals invest in items or services that can help improve their health like enrolling in for gym training programs. That is why some individuals start their own fitness gyms. But, starting a fitness gym can be expensive due to the numerous items you need to invest in. It gets even worse if you are working with the wrong gym equipment finance providers. To avoid this, below are some of the most common mistakes gym owners make.

Choosing new or inexperienced service providers

One of the most common mistakes gym owners make when looking for gym equipment finance options is opting for new or inexperienced companies. Surely, when looking for financing services, there are lots of companies that offer such solution. However, working with new or inexperienced companies can be a huge problem since there are cases when you may end up losing your business. This is possible since new or inexperienced financing companies do not have much knowledge on the niche which can affect your finances.

Neglecting agreements such as interest rates

The next mistake that most gym owners make is neglecting agreements. In order to have good deals, it is important that both borrower and lender have agreed on terms and conditions that will benefit both parties. Sadly, some gym owners neglect this factor. As a result, some companies that this into their advantage to gain better profits from your business.

Hiring companies that have slow approval processes

Another mistake that gym owners make with regard to choosing a gym finance option is opting for companies that have slow approval processes. In order to compete with other gyms, it is important that you start your business immediately. Unfortunately, some financing companies may affect your goal due to their slow approval processes. Because of this, potential clients will be looking for other gyms which can affect your profits.

Opting for financing options that can be used in limited assets

Finally, make sure that you look for finance options that can be used in numerous assets. Some financing companies only provide asset finance for traditional hard assets such as cars, commercial vans, tractors and fork trucks. With this, gym owners cannot use their finances to purchase gym equipment. So, it is imperative to look for financing companies that allow you to use finances in any business asset.

By knowing all these mistakes, gym owners can find a reliable finance option that can help make their business better and more profitable.

Source: Portman Asset Finance is a company that offers reliable financing options for numerous businesses to help them improve their profits and allow them to become more successful.

Why Business Owners Work With Transportation Companies In Dubai

Transportation is an essential factor when running a business. Of course, with reliable transportation raw materials and products cannot be delivered properly to clients. In addition, inadequate transportation can also affect business reputation and profits. That is why business owners work with transportation companies. In Dubai, there are numerous companies to choose from which can provide you with a wide variety of services. Below are some of the following.

Provide safe handling and timely delivery

One of the main reasons business owners work with transportation companies in Dubai is they provide safe handling and timely delivery. These services are important in order to provide the best benefits for their clients. By safely handling products, business owners can cut down profit loss. On the other hand, timely delivery allows business owners to improve their reputation and to meet their clients’ needs easily.

Offers routing alternatives

The next reason why business owners work with transportation companies is they offer routing alternatives. Of course, mishaps and delays such as traffic can happen when transporting goods. Because of this, profits and reputations can be affected. Luckily, reliable transportation companies in Dubai can provide you with alternative routes to ensure that you can transport your products to your clients efficiently.

Wide selection of transportation vehicles

Apart from routing alternatives, transportation companies also have wide selection of transportation vehicles from car carriers, refrigerated trucks, side loaders for grounding containers, low beds and curtain-side trailers.  Working with companies with such ability allows business owners to opt for the right vehicle to transport their products. In addition, business owners can also opt for more affordable transportation options. Plus, vehicles offered by transportation companies are well-maintained to avoid delays and to ensure your products are safe.

Reliable IT systems

Lastly, transportation companies in Dubai also make use of reliable IT systems. In order to properly and accurately transport your business products, transportation companies have integrated IT systems on their processes. Because of this, transportation companies can provide you with real-time information about your products from its destination up to its delivery time. IT systems are also used to ensure that your items are properly stacked before the move to avoid product damages. As a result, business owners are rest assured that their products are transported safely.

With all these services, business owners can improve their profits and reputation easily that can help them achieve their goals.

Source: www.aflogistics.com/people-transportation.html is a website that features the services of a reliable transportation company in Dubai.

Health Benefits You Can Get From A Standing Desk Converter

These days, more and more people are using standing desks. Such preference for standing whilst working is indeed backed by extensive research.

Studies have revealed that people who often sit during the day are 54% more likely to die of a heart attack. They also become at risk of diabetes, cancers, and obesity. It is further emphasized that even you eat well and exercise, your body will still suffer if you sit most of the day.

The Importance Of Using A Standing Desk Converter

Quitting those stretches of chair time is among the best solution. But what if your job requires you to sit most of the day? Do you need to quit your job and look for something else that will require you to stand up instead?

There is no need for such. With a standing desk converter, otherwise known as a stand up desk converter, you can definitely address the problem. This innovation can actually increase productivity. Moreover, it is proven to promote better health and overall well-being.

A standing desk converter is an implement placed on top so your table can have a much higher surface, allowing you to stand up rather than sit while working. If you do not want to replace the one you are currently using, this can be your best solution. Be sure though to get the adjustable kind so you can easily set it up to exactly meet your height preference.

With this simple yet very effective solution, you do not have to fall victim to the risks and dangers associated with long hours of sitting.