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If you think getting funds within 24 hours of factoring your invoices is fast, think again.  Key Factors is looking to introduce real-time payments to allow instant funds transfers.

As part of the New Payments Platform (NPP), instant or ‘real-time’ payments between some Australian bank accounts will be possible 24/7.

Why does transferring funds between different Banks take so long?

Currently, when we transfer factoring funds into your nominated account, it generally hits your account the next business day. That’s because different Banks transfer funds at different times of the day and only during business hours.

How will Real-Time Payments under (NPP) work?

At present, when we transfer factoring proceeds to a customer with the same bank, funds are received almost instantly.

Under the New Payments Platform (NPP), the same can apply even if our customers do not bank with the same bank. That’s because NPP acts like a secured network between participating financial institutions, allowing funds to be transferred between accounts immediately.

Which Banks have signed up?

The big four banks have all signed up along with 9 other financial institutions listed below:

  • ANZ
  • Commonwealth Bank of Australia
  • NAB
  • Westpac
  • RBA
  • ASL
  • Bendigo/Adelaide Bank
  • Citigroup
  • Cuscal
  • HSBC
  • Indue
  • ING Direct
  • Macquarie Bank

What are the advantages of Real-Time Payments and when will it take effect?

The ability to instantly receive funds will ensure your business can meet any unexpected expenses or opportunities that may arise from time to time.

Getting instant cash in your bank account can be as easy as 1 2 3:

  1. Invoice your clients for sale of goods or services and send Key Factors a copy
  2. Key Factors will credit your account with up to 80% of the invoice value.
  3. The remaining 20% is provided once your client pays us, less any accrued fees.

The New Payments Platform (NPP) is set to launch early next year and all participating banks are going through the final stages of testing.  Key Factors will have our finger on the pulse so our customers can reap the benefits of Real-Time payments.

Key Factors Perth

 

How can you qualify?

Businesses benefiting from Key Factors flexible cash flow finance generally have a high level of customers on accounts for the provision of goods or services and have an annual sales turnover ranging from $500,000 to $30 Million.

At Key Factors, we understand small business loans Australia! As a leading cash flow finance company with over 30 years of experience your business is in good hands.

Contact us at Key Factors and a local state manager will be more than happy to discuss your needs and provide you with a quote to suit your requirements.

Cashflow finance allows you to convert sales invoices into cash without needing to wait for up to 90 days for your clients to pay. Whether you’re wanting to grow your business or just have a more regular easily accessible cashflow to cover overheads, cashflow finance is the answer.

How does cashflow finance work?

Key Factors Pty Ltd

How much does cashflow finance cost?

With Key Factors’cash flow finance, we only charge a flat daily fee of 0.1% per day, which is only payable if you use it. As an example, on a $1,000 invoice which is paid 30 days after it is factored, the total cost incurred would be $30 (3%). There are no monthly admin fees, annual fees or early exit penalties.

What are the advantages?

Some clients can take up to 90 days to pay, which can put a strain on your business cashflow. Cashflow finance enables you to get immediate access to cash tied up in your unpaid invoices, so you can get on top of ATO obligations, meet employee wages, and most importantly grow your business.

You never know when your business is going to have a financial emergency, requiring urgent access to cash. Flexible cashflow finance provides you with you peace-of-mind by converting your sales into cash in as quick as 4 hours. Additional cashflow can be beneficial to your business, allowing it to grow, avoid interruptions and challenges and cover the gap of slow payments from customers.

Cashflow Finance For Small Business

The main advantages of financing from Key Factors are:

  • No minimum monthly usage requirement and you will only be charged for what you use.
  • No lock-in contracts and no early exit penalties.
  • No quarterly audits and no property security.

Running a business can be very time consuming, and you often don’t have time to chase clients for payments. With Key Factors’ cashflow finance we will also help with the follow up of accounts, saving you time and stress.

How do you qualify?

Companies benefiting from Key Factors flexible cashflow finance service generally have a high level of customers on accounts for the provision of goods or services and have an annual sales turnover ranging from $500,000 to $30 Million.

 

Apply online

A significant benefit of Key Factors’ cashflow finance facility is the easy online approval process, meaning you can apply for finance 24-hours-a-day and 7-days-a-week.

To find out more about cashflow finance and how it can improve your business cashflow, contact Key Factors today. We can discuss a tailored solution to suit your business needs and arrange approval in as quick as 48 hours.

 

Debtor FactoringA popular form of small business financing is debtor factoring – a process that involves using a company’s accounts receivable as collateral in order to fund the business. Through this, cash flow is released from outstanding invoices in as quick as 4 hours from a factoring company like Key Factors. SMEs often turn to debtor factoring as limited cash flow can hold their business back and restrict them from reaching their full potential.

Here’s How Debtor Factoring Can Keep Your Business Afloat:

1. Additional cash flow to fund growth

Debtor factoring is an excellent source of small business financing, providing immediate access to cash flow allowing businesses to fund growth and company expenses.

2. Bridge the gap of slow payments

With some customers taking up to 90 days to make payments, it can cause a serious strain on a business’ cash flow. By using debtor factoring with a factoring company like Key Factors, businesses can bridge the gap of slow payments and get up to 80% of the invoice value in as quick as 4 hours.

3. Meet operating expenses

To keep a business running there are ongoing operating expenses that must be paid including payroll, taxes, rent, and employees benefits. It’s essential that your business has access to sufficient cash flow to meet these expenses.

4. Get on top of ATO obligations

Small business finance through debt factoring can help businesses get on top of ATO obligations and Business Activity Statements.

5. Increase your buying power

With access to funds, your business can not only stay afloat but get ahead and increase its buying power. This can give your businesses a confidence boost and more clarity when planning long-term strategies.

6. Streamline the administration process

Working with a debtor factoring company can also minimise the stress of managing customers outstanding debts. As apart of our service Key Factors will help follow up payments with your customers on your behalf, so you can focus on what you do best which is growing your business.

Securing business finance from Banks can take months to get approved and comes with repayments, long-term contracts and complex conditions. Debtor factoring with Key Factors can be approved in as quick as 24 hours, and funding can occur in 4 hours with no locked-in or long-term contracts.

Small Business Financing made easy

With offices in Sydney, Melbourne, and Perth, our local State managers can provide tailored small business financing to suit most Australian businesses.

Contact us at Key Factors and a local state manager will be more than happy to discuss your needs and provide you with a quote to suit your requirements.

Steady cash flow is vital for all successful businesses. Have you considered cash flow finance for your small business loans Australia? It is the difference between being able to pay off debts and growing your business, and struggling to keep things running efficiently enough to keep your business alive.

At Key Factors, we know how challenging it can be to run your business smoothly and manage your accounts receivable – that’s why we’re here to help.

How can cash flow finance benefit small business?

Cash flow finance allows small businesses to sell their invoices at a discount to a debtor finance company like Key Factors so that they get paid for them upfront. This means businesses don’t have to wait up to 90 days and can get instant access to working capital by converting their credit sales into cash.

Cash Flow Financing Perth
 
With Key Factors, cash flow finance for small business loans Australia, the cash you receive is aligned with your sales – so the more sales you make the more cash you can get. In addition to giving your small business cash flow a boost, you can also cover the gap of slow payments, pay off expenses, meet ATO obligations, and most importantly grow your business.

How does cash flow finance work?

  1. Invoice your clients for goods or services and send us a copy.
  2. Key Factors transfer up to 80% of the invoice face value to your account in as quick as 4 hours, less a discount rate.
  3. The remaining 20% is provided when your customer pays, less any accrued charges.

Flexible cash flow finance for small business loans Australia

Key Factors cash flow finance for small business has no lock-in or long-term contracts, no ongoing monthly charges or annual charges. There are also no quarterly audits and no property security required.

Contact us at Key Factors, on 1300 884 100 and a local state manager will be more than happy to discuss your needs and provide you with a quote to suit your requirements today.

Invoice financing has become an increasingly popular solution as a flexible funding alternative for businesses. Invoice financing Australia allows a third party like Key Factors to purchase the accounts receivables of a business at discounted rate and provide immediate access to cash.

Invoice Financing AustraliaHow Can Invoice Financing Australia Benefit Businesses?

Invest resources in growing your business

Invoice financing Australia unlocks cash from unpaid sales invoices so businesses can have access to immediate working capital to invest in growing the company and hire new staff to expand operations. Additional cash flow also allows a business to keep up with competitors and industry trends through new technology.

Flexible funding

Key Factors requires no quarterly audits, no lock in or long term contracts, charging only a discount rate on usage with no minimum volume when submitting invoices for funding. Traditional financing options rely on the business owner’s financial position and personal assets, while invoice financing Australia with Key Factors is more reliant on the strength of the ledger.

Increase cash flow

Invoice financing Australia with Key Factors offers 48 hour approval and 80% of the invoice value credited within as little as 24 hours, with the remaining 20% provided once the customer pays, less any accrued charges. The solution bridges the gap of unpaid customer invoices to bring the business an increase of cash flow. An influx of cash flow is important to maintain the successful running of a business and meeting operating expenses, so the business can focus on servicing growth and expansion.

Save time and money with professional receivable management

Businesses can save time and money with professional receivable management at Key Factors. Our friendly staff follows up on invoice payments so that you can have more time to focus on growing your business instead of waiting for customers to make payments.

Fast approval and funding

With Key Factors Invoice financing Australia, the factoring process is fast and efficient with approval granted within 48 hours and funding in as quick as 24 hours. Loans from banks can take months to get approved and come with repayments, long-term contracts and terms and conditions, but factoring can provide businesses with cash within days! It’s a faster flexible funding solution that is designed to grow with your business.

With offices in Perth, Sydney, and Melbourne, our local State managers can provide a tailored invoice financing solution to suit most Australian businesses.

Contact us at Key Factors and a local state manager will be more than happy to discuss your needs and provide you with a quote to suit your requirements.

Regardless of the size or type of business, having problems with cash flow is a major concern. Even if a business is currently profitable or showing strong projected growth, if expenses are not covered, the growth may be stunted long-term.

Want to improve your working capital? Here’s how to increase cash flow in your business in eight different ways.

Business Cash Flow1. Come up with a cash goal and supplement it with a cash flow projection

Proactivity is the name of the game, so begin with setting a clear cash goal. It is vital that you are aware of the funds required to take your business to where you desire, or to place it in the competitive position it needs to be. Do this by carrying out a cost analysis and establish your break-even point well in advance. Every month, complete a profit and loss statement, a cash flow statement and a balance sheet – these three documents will give you an in-depth view of the health of your business finances, allowing you to prepare for the inevitable highs and lows of cash flow for the coming months.

2. Add a ‘PAY NOW’ button to your emails and invoices

A quick tip of how to improve cash flow quickly is to make it easier for your customers to pay you immediately. A ‘Pay Now’ button can be added to invoices and emails, meaning customers are one click away from payment. This simple button that links to your online payment platform is very convenient, and features in many accounting software programs, and can even be created yourself.

3. Use Key Factors factoring financing to bridge the gap of slow payments

Factor Financing is a flexible way to quickly boost your cash flow by allowing you to turn your sales invoices into cash – fast. Forget waiting 30 to 90 days for your clients to pay and recruit the help of Key Factors. With Key Factors factor financing you can get up to 80% of the invoice value in as quick as 4 hours. The remaining 20% less any accrued charges are made available once your client pays us.

4. Become more efficient

With a variety of tech tools available online, it’s never been easier to streamline your business dealings to become more efficient. E-commerce sites, accounting software and smart-phone enabled credit card readers are just a few tools that can save your business both time and money. Use technology to your advantage – for example, conduct international meetings over Skype conference calls instead of paying high travel costs.

5. Find ways to reduce costs

When thinking about how to increase cash flow, if you can’t increase profit, why not find ways to reduce costs? This can go a long way especially for ongoing monthly bills like phone, internet and electricity. Are you certain you’re getting the best deal? Call and negotiate with your providers and you’ll find that often you can receive a significant discount simply by asking, as a reward for consolidating costs or being a loyal customer.

6. Condense all outstanding invoices into one statement

In the case of a customer having a number of multiple invoices open, encourage fast payment by consolidating these documents into one. Having one clear invoice that specifies the total amount owing (as well as a breakdown that details the dates, goods and services purchased) makes it easier for your customer to confirm exactly how much is due, all whilst avoiding having to fill their inbox with numerous overdue statements.

7. Review your prices

When was the last time you reviewed your pricing model? It’s important to fine-tune prices every so often to ensure you’re not selling your goods/services for too little or too much. Cash flow can be boosted by increasing prices, however if you do, make sure the increase is justified by considering what you can add to your products to raise their value in the consumers eyes. Sometimes, the perceived value of products can be raised simply by a price hike.

8. Chase up outstanding payments in a timely manner

In the case of outstanding payments, don’t delay – follow up your clients with polite but firm reminders, remembering to always remain professional whilst doing so.

As apart of our factor financing service, Key Factors will follow up on outstanding accounts on your behalf. We will also send your customers statements summarising the total amount due as a friendly reminder. Our factor financing service not only boosts your business cash flow but can save you time and resources, allowing you to focus on what you do best which is growing your business.
Want to know more about factor financing and how to increase cash flow in your business? Contact us at Key Factors, on 1300 884 100 and a local state manager will be more than happy to discuss your needs and provide you with a quote to suit your requirements today.