Amazon’s primary objective has been to have a foothold in every aspect of our lives. It’s monumental growth has increasingly brought their objective into clearer focus.
A little more than ten years ago Amazon.com introduced a service that business welcomed because it saved them money by positioning them to only pay for the computing power and storage capacity they actually utilized. This pilot project is now a household word and is known as cloud computing and is called Amazon Web Services. Amazon Web Services currently has more than one million users per month. Amazon Web Services will probably surpass thirteen billion in 2016 sales. To put that number in perspective, in size and growth it approximates what Amazon accomplished in its first eleven years.
How can small and medium size businesses which offer products and services to consumers compete with this behemoth for market share? Are you leaving “money on the table” because you are not offering accounts receivable factoring to your customers? Are you leaving “money on the table” because you are not offering financing to your subprime as well as your more credit worthy customers? Would you like to be able to offer accounts receivable financing to prospective customers with credit scores as low as 600?
Amazon Web Services’s parent company will likely have seen revenue near 145 billion for 2016. In addition, Amazon is extending its reach into new businesses of every imaginable nature with the goal of continuing to increase its sales and share price.
If you think you have an advantage because you are a brick and mortar presence in your community, keep in mind that physical stores are now an integral part of Amazon’s plans for the future.
In order to be competitive in the coming years, small and medium size corporations will have to be able to offer financing to both their prime and subprime prospective customers. The beauty of accounts receivable factoring (accounts receivable financing) is that you can not only offer immediate financing to your prime and subprime customers; but, you can also immediately “cash out” your retail installment contracts by selling them to the same funding source which is providing the financing for you.
By this means you can create for yourself immediate cash flow instead of waiting one, two or three years to get paid slowly month by month. Through the simple process of accounts receivable factoring you can, for example, eliminate your bad debt by leveraging off your customer's’ credit so as to concentrate on marketing and expanding your business.
By enhancing your cash flow position you can also become more competitive by being able to meet increasing demand and by taking advantage of early payment discounts and volume discounts. More importantly, since the funding source can also service your accounts as well as do collection work on your delinquent consumer contracts, you can concentrate on marketing and expanding your business.
Enhanced cash flow through consumer receivable financing is the key to the competitive edge which small and medium size businesses need to compete with the behemoths in today's marketplace.
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