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- Factoring & the Apparel & Footwear solution
lunes, 14 de marzo de 2016
Today, many apparel companies rely on factors to process their orders. So what is a factor? Factoring, also known as “accounts receivable financing,” is an alternative form of financing used by startup companies all the way up to multi-billion dollar corporations. An will purchase and assume responsibility of a company’s accounts receivables while making it possible to secure the working capital needed for business growth.
While fashion businesses are focusing on designing, manufacturing, etc., are working continuously to make sure that the business has the capital necessary to pay for materials and equipment needed to make and manufacture goods and pay your apparel business’s overhead and expenses
Factor Integration with SAP Business One Apparel & Footwear Solution
Companies don’t want to lose revenue by missing a shipping deadline because they are waiting for a credit approval to be processed. By implementing the proper apparel software system with factor integration, one can relax while their business runs smoothly.
A key compliment to any apparel factor is an ERP system. Many factors are seeing the value and the considerable time savings by integrating with a .
The Apparel & Footwear solution not only makes passing on information to a factor much faster, but it also creates additional efficiencies.
Once the factor is setup with the required GL Accounts the invoices linked the factor get flagged to be processed.
The invoices are processed and push to the factor for approval and payment process.