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The biggest mistake I see being made is based more on our economic time of need then bad judgement. Often times those in business in todays climate are all to willing to take on a new client without doing any due dilligence whatsoever. This can lead to leaving yourself exposed to those who either pay VERY slow or sometimes not at all. Have you checked on the company you plan to invoice? Have you checked on the companies they invoice? If they’re not paying you fast enough more often then not they’re not being paid fast enough. Alligning yourself with companies that are having financial troubles will inevitablly trickle down to you in some form or fashion. It costs a lot to keep a truck on the road let alone multiple trucks. By choosing to use a factor, even if you don’t intend to sell us those particular invoices, we will do all of the finacial reviews on your prospective client for you. Thus identifying those companies that may be in jeopardy of financial demise. Once you’ve identified the warning signs or lack there of, you can then proceed appropriately. If you have further questions please feel free to email me at: stephen.ray@dbsquaredinc.com
Thanks!