Financial Terms Glossary

Factoring

Formal

This is a process where a Bank effectively buys the debts of a business and lends monies to the business using the debts as security. This process provides businesses with cash 'ahead' of the time it would normally have received monies from its customers.

Informal

Business is booming and we are making profits. That's great but it doesn't mean that we have cash in the bank - because our customers take 60 days to pay, and yet we have to pay to make our products before they are shipped. Factoring is the 'sale' of our book debts to a bank in exchange for cash to help us fund business expansion.

What we do

At Shark Finesse we have developed an enterprise-grade cloud application to help businesses standardise and simplify their value engagements across the entire customer journey.

Shark, a business value engagement platform used by 1000’s of customer-facing teams globally (e.g. pre-sales, sales, value teams, and customer success) is easy to use, intuitive and usable directly with the customer to negotiate the likely business returns from investing in a solution.

By adopting the Shark approach you will fundamentally transform conversations with new and existing customers, close more business, and differentiate from the competition.
Find out how

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+44 (0)1256 338635
Address
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Basingstoke, Hampshire
RG24 8AG, UK