Telecom factoring powers the digital age
In today’s digital world, keeping the Wi-Fi on is almost as important as keeping the lights on. From massive satellite towers to satellite communications way up in space, the telecommunications and broadcasting industry is so ubiquitous we barely notice it until something goes wrong.
In order to function at optimal levels, large telecom corporations rely on the services and products of small businesses. It is a demanding environment with potentially lucrative rewards for these businesses. Yet how do all of these small telecom companies and contractors stay afloat in such a competitive industry?
The small firms that provide service or goods to the major corporations survive and thrive by keeping robust, ever-ready cash flow. This means they don’t have time to sit and wait to collect on payment that is owed to them.
What are the payment terms for major telecom players and their small business suppliers or service providers? Similar to government contracting, telecom corporations have a history of taking 60 days or more to pay. Nevertheless these small businesses need to collect on payment fast if they are to remain key players in the industry.
Telecom factoring solves slow payment problems
Small businesses get capital quickly by taking advantage of big business finance tools such as telecom factoring. An alternative financing method that has been around hundreds of years, telecommunications financing via factoring lets companies collect on their invoices in days and not weeks and weeks.
Telecom factoring companies may be an ideal financial partner for your telecom small business if one of the major carriers is a client of yours. Why? Because chances are good these corporate players have excellent credit ratings, the most important consideration when issuing telecom funding via a factoring company. So even if your new phase telecom firm has poor or unestablished credit, it can get cash quickly without taking on debt via telecommunications financing.
The types of firms that take advantage of telecom factoring include:
Telecom systems integrators
Original Equipment Manufacturers (OEMs)
Fiber optics businesses such as those that dig and lay cables
Firms that provide technology products and services
Wireless and broadband firms
Videoconferencing and telepresence businesses
Wireless and wireline integration businesses
Those in cloud-based business applications
Telecom can be a lucrative undertaking but only for those small businesses that are willing to do what it takes to survive and thrive in an extremely competitive space. Successful firms in telecom must take the reins of their finances rather than be at the mercy of slow customer payment timelines. One way small businesses in telecom can do this is by partnering with fast and knowledgeable telecom factoring companies.
Get telecom funding at the speed of broadband
By selling your high value, creditworthy invoices at a reduced price to telecom factoring companies you can collect the bulk of payment that is owned to you in just a matter of days. This fee that goes to the factor is the cost of doing business in a slow paying industry that is pretty much set up that way. Telecom is known for moving at a snail’s pace with regard to paying its customers, and that’s probably not going to change anytime soon. So obtaining telecom funding through another option such as factoring may be a better option for your business.
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