Factoring – providing peace of mind

GRENKE’s focus on small-ticket factoring is a further key aspect of our mission to provide financial support to small and medium-sized enterprises. This sector is largely neglected by our competitors, as they lack the systems required to effectively deliver the services. GRENKE’S core competencies – deployment of efficient proprietary systems, responsive, customer-friendly processes and face-to-face advice and assistance – also play a significant role in factoring. Moreover, all of our processes have been tested and certified by independent bodies to ISO 9001:2008.

 

In the past, GRENKEFACTORING focused primarily on disclosed factoring where the client’s customer is informed that the receivables have been assigned to the factoring service. This is changing however, as the proportion of undisclosed factoring, where the debtor is not aware of the arrangement, in our portfolio continues to grow. In both cases, we check the credit worthiness of the client in advance. GRENKEFACTORING offers each of these options on a flat-rate contract basis providing our clients with greater transparency and a more reliable basis for financial planning.

 

Our processes are designed to save our factoring clients time and hassle, while ensuring they retain full visibility into their receivables management. Via a user-friendly online portal, they can perform a wide range of tasks, including uploading invoices, tracking customer payments, and adding new debtors while testing their credit worthiness in advance. We ensure that our factoring clients are kept up to date on any action taken or pending, for example reminders where payment is outstanding, and that they always have the opportunity to intervene. We are committed to close coordination and agreement with our clients on all dealings with debtors as we believe this is the keystone of a long-term partnership built on trust. Factoring is an attractive choice for small and midsized enterprises, particularly when funding the upturn after a difficult economic period. In an uncertain business environment, credit lines may remain restrictive.

By taking advantage of factoring services, however, companies can improve cash flow and benefit from protection against poor liquidity, giving you the security you need to tackle whatever challenges come your way.

 

Factoring is fast becoming the third pillar of external financing, and the number of SMEs taking advantage of these services is on the rise. It is this target group that GRENKE’s factoring services focus on in Germany, and (since 2010) in Switzerland.