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In a tenuous economy, doing business with the government provides for some stability. Doing business with the government can be as easy as processing a normal customer’s credit card. However, there are also thresholds to consider. Below a certain amount, the government can pay with a purchase card (credit card), above a certain amount and they must issue a Request for Quote or a Request for Proposal and get competing bids. In Government Contracting, you often have to show and account for your costs as well as your price.
One of the hardest parts of your business as a Government Contractor is that you may need a completely different kind of accounting system, one that provides pricing in the right formats, with sufficient justification for Government Contracting.
The second hardest part is that many government agencies are very slow to pay their invoices. This can put tremendous pressure on you and your business.
Solutions for Government Contractors
The solution is to work with an invoice factoring company that specializes in accounts receivable financing for government contractors.
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By working with an experienced, reputable government factor, you can still provide products and services to the government, which typically is a very financially-sound customer, without jeopardizing your company’s financial future.
Whether you service or sell to local, state, or the Federal government, an invoice factoring company can help you. An invoice factoring company that specializes in accounts receivable financing for government contractors understands the ins and outs of The Federal Government Assignment of Claims Act and will leverage that knowledge and experience to provide solutions to help you solve your challenges and focus on growing your company.
Collections
Placing collections calls and faxing third and fourth invoices should not be the focus of your business.
These activities can be time consuming, frustrating, and a needless distraction from your business’s primary mission. Fortunately, an invoice factoring company will improve your invoicing and collections process.
An invoice factoring company can invoice payment processing, make collection calls, and monitor customer credit. With an experienced, professional invoice factoring company, you don’t need to worry about passing these duties along to them–their professional staff treats your customers with the same degree of care and attention that you do.
It is common for government contractors to face cash challenges during times of growth. With robust invoice funding resources and many combined years of experience with traditional invoice factoring and working with the government in general, Bay View Funding specializes in helping companies just like yours with their cash flow needs. So, whether you need cash to purchase supplies, meet payroll, take advantage of expansion opportunities, or for any other reason, Bay View Funding is the answer.
Whatever your niche as a government contractor, Bay View Funding can help you meet your obligations on time, every time. Bay View Funding specializes in invoice factoring, helping manufacturing, distribution and service companies, including government contractors, to grow and prosper. Bay View Funding is strongly committed to providing businesses with convenient invoice factoring to solve their cash flow challenges. Visit Bay View Funding at to increase your cash flow now.
Heather Preston. – Bay View Funding has provided businesses with invoice factoring to solve their cash flow needs since 1985.
Accounts Receivable Financing for Government Contractors. (2020, Jun 01). Retrieved from https://studymoose.com/accounts-receivable-financing-for-government-contractors-new-essay
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