As an expanding company it is very important to have your working capital well under control and that your working capital position grows in line with the growth of the business. Factoring is an ideal solution for this. By advancing money owed by debtors, it means that your working capital position changes, thereby keeping up with the level of your debtors. In this way your short-term creditors can be paid on time, relieving your company of any payment pressure.
The factoring market is very active, with lots of different providers. Robert Claassen: As an organisation we work with a lot of factoring companies, but for each customer, it is different – they all have different needs that need tailor-made solutions. Within our portfolio of customers we see a number of fast-growing companies with an increasing demand for working capital. Factoring is one of the solutions, and this is why it is important for us to work together with factoring partners. This month we started working together with Togather Finance.
Togather is the only “silent” factoring company in the Netherlands that buys up to a maximum of 95 – 98% of outstanding domestic and international debtors so that the entrepreneur can see faster growth without having to worry about the risk of payment or bankruptcy. Silent factoring is when the debtor does not know that his invoice has been advanced by a factoring company. By using a state of the art credit management system, the customer can see the payment behaviour of their debtors at any time and thereby has control over the management, personal contact and relationship with their own customers.
Sicco Goede (Manager Partner Sales Togather): we see CM&P as a perfectly matched preferred partner to play a proactive role in recognizing the opportunities and offering our solutions to their growth customers.
Claassen: every company undergoes a certain lifecycle. Each phase demands a different kind of finance and by using the right kind of finance, the growth and profit of a company can be significantly improved.
A CM&P adviser knows what will suit a company best and last week we started a working partnership together with Togather Finance who have introduced a new type of factoring to the Dutch market, specially designed for fast-growing companies who don’t want the name of the factoring company and / or another account number to appear on their invoices: Factoring 2.0.