Shortening Payment Terms: Why Factoring Is Advantageous For Logistics

 

Like many industries, transport logistics also has to cope with long payment terms and often equally long payment delays. Companies are already working with low margins. “Factoring allows you to get paid faster and increase your turnover,” the supplier often argues. But how does factoring actually work and what should you avoid? 

How does factoring work and what are its advantages?

Factoring is very easy to explain when you know how a transport service works. Indeed, the transport company literally goes to the cash register: it carries out the pre-financing for its customer and assumes all the risks until the latter has paid the invoice. When a company is unable to carry out the transport, it entrusts it to another company. It is the same for factoring: It is possible to cede its financing risk by entrusting, to a factoring company, the prefinancing of its invoices.

Factoring is therefore a financing service that allows you to sell receivables that are not yet due to a factoring company. The latter takes over the rights to the receivables and settles them upon presentation of proof of the execution of the transport order concerned. Concretely, 80 to 90% of the amount due is generally paid within 24 to 48 hours, as most providers of this type of service claim. The balance is paid by wire transfer as soon as the customer has paid the full amount due to the factoring company. This helps to avoid long waiting times. It is also possible to outsource the dunning process and the risk of non-payment called the risk of del credibility.

What are the costs of factoring?

Factoring costs are the responsibility of the principal carrier. In general, they have two main components:

  • Factoring interest

They are comparable to the usual interest of banks on current accounts. The amount of this interest varies according to the solvency of the principal company and the solvency of the debtors. In addition, the amount of this interest will be calculated from the recourse to factoring and until receipt of payment from the debtor, that is to say, according to the effective terms of payment. The sooner the invoice is paid to the factoring company by the debtor, the lower the interest payable by the carrier.

  • The factoring commission

This flat rate is invoiced for the assumption of the risk of non-payment by the factoring company. The elements that determine this commission are the amount of turnover as well as the number of invoices and customers. Typically, the factoring commission is 0.5 to 2.5 percent of the invoice to be pre-financed.
In principle: The factoring commission increases proportionally to the amount of turnover. Factoring interest is also lower if the business is in a good financial position.

Always ensure that you find a reliable 3PL Company in Los Angeles such as  Soonerlogisticscom that will deliver professional factoring services for your goods.

 

Benefits of Upgrading Your Extraction Lab Instruments

 

Changing your instruments while they are still functional may seem like a bad investment, as they can still be put to good use for a while longer. However, there are many advantages that the update of the different equipment brings, among which the following stand out.

Faster Sample Response Time

American Walk-In Coolers offers labs that measure customer satisfaction generally find that the fastest sample turnaround time is an opportunity to improve their reputation and attract new customers. By upgrading your equipment, you will benefit from increased speeds and efficiencies when performing analysis, testing, or sampling. In addition, they will extend the capacity of the instrument to allow more tests to be performed on it each day.

Improved Quality Of Results

New lab equipment undergoes design improvements to obtain greater speed and quality of results. Rapid advancement in technology allows new models to have capabilities that were previously unimaginable, and they represent a huge advantage for laboratories.

Environmental Benefits

Many laboratory equipments generates pollutants that affect the environment, as well as can consume large amounts of electrical energy. If they are updated by models with certifications, such as “the energy star “, they will guarantee that the consumption is better. Also, the filtering components are better and the impact they have on the environment is reduced, especially from chemicals that are potentially dangerous.

Ease Of Use And Better Laboratory Integration

As technology has become increasingly complex and sophisticated, instruments have become easier to use. For example, almost all instruments now have software that runs on a computer that, in addition to optimizing instrument performance, assists in data interpretation and operations by personnel with less equipment training.

Lower Maintenance Costs And Less Downtime

The decrease in reliability of old instruments can only be compensated by more constant maintenance, which generates downtime that delays your projects; in addition, there will come a point where manufacturers will stop supporting older models. Updating them will allow them to have equipment in optimal condition, with lower maintenance costs, and without downtime.

Undoubtedly, updating your lab equipment, whether obsolete or not, will bring you many benefits. If you are looking for C1D1 Labs, Extraction Lab Rooms, and Equipment, you can find extraction lab construction at American Walk In Coolers in the United States Nationwide.

 

How To Choose Your Next Window For Your Home

Choice of frame

By changing the windows of the home, we can not only take advantage of reducing energy consumption with better insulation. Depending on the type of window we choose, we can also improve the brightness and safety of our home.

The first decision to make when we are going to change the windows of the house is the type of frame that we will put. At Gilmar we recommend 3 main materials for window frames due to their characteristics:

Aluminum windows

Aluminum window frames are the most economical, and perhaps the most resistant material to changes in temperature and the passage of time since they do not usually spoil. They stay as good as new even in direct sunlight or wear and tear. For this reason, thinking about aluminum can be the best future investment for your windows.

Aluminum is also a good insulator to keep the heat inside the home, and even to keep the house cooler during the summer with the use of air conditioning.

If you want to include large windows, aluminum is the perfect material to include bars from side to side, and vertically, to improve the insulation and resistance of the glass. In this way, even the heaviest crystals are better supported.

PVC windows

PVC is also an excellent insulating material. It is easy to maintain, although it is somewhat more fragile than other materials.

The great advantage is its low price, and that it can be adapted to practically any design and color that is desired for the home window frame. In the event of breakage or deterioration, being able to replace damaged parts is cheaper when it comes to PVC.

In coastal areas, PVC is the best option to withstand the high salinity of the environment. It better withstands strong wind and holds without altering for longer.

Wooden windows

Wood is a highly recommended natural insulator for the home. It is the material with the highest price of the three that we propose, but it brings a very elegant and natural air to any home.

Including wooden windows in the home is a very attractive option, and if the type of wood is chosen well, it hardly needs maintenance, because they are very resistant to temperatures and inclement weather.

Wood is a material that already provides quality to the home in itself, helping to reduce energy consumption by maintaining much greater insulation in the window.

Choice of glass

In addition to choosing a good window frame, investing in quality glass also helps reduce heat loss in the home. Not all window glass is the same, nor does it insulate in the same way in relation to heat, outside noise, or the safety of the home.

If you are determined to make a good investment in your windows, bet on quality glass with reinforced thermal insulation. They are usually windows with double glazing that improves safety in the home and prevents heat losses.

 

Why Replace my Window?

The windows are perhaps one of the most important parts of any home, as they help protect you from the elements of the exterior, and at the same time, they also provide natural light to the home, while ensuring that their family is safe inside the home. However, you can imagine that at some point, your windows suffer a bit of wear and tear and that’s when you may need to replace your windows, among others. These are some of the reasons why it may be a good idea to replace your windows soon.

It is very difficult to open or close them: If your windows are difficult to open or close, then obviously you are facing a problem as you should not have any problem opening or closing your windows if they are ok, but on the other hand, if they are difficultly closed, that means that water can easily penetrate while it is raining, so you need to replace your windows immediately.

Blizzards can be felt when windows are closed: This is another problem, if you can still feel little air or water even if your windows are closed then you are surely dealing with a big problem. You need to stop that as quickly as possible, otherwise, you will end up dealing with costly repairs, rather than costs of window replacement s first.

You still hear a lot of noise from outside: When the windows are closed, you shouldn’t hear anything from outside, but if you have problems, you end up hearing everything that happens outside, and that will happen even if you have sound insulation, so try to take that into account.

Replacement Parts Difficult to Find: Repairing a window sounds like a good idea until you see that some replacement parts are really hard to come by, in that case, it is a better idea to go for window replacement as it is more convenient.

Your carpet is starting to fade: This happens when your windows are not good at keeping UV rays out of your home, in that situation it is a much better option to replace your windows quickly, and the return on investment will be tremendous in the end.

Benefits of changing your windows :

  • Reduction of the energy bill, which leads to a very fast amortization.
  • Improvement of the general comfort of the house.
  • Helps to reduce CO2 emissions, contributing to the conservation of the environment.
  • Reduction of the entry of pollutants (such as pollen and mites) into the home, contributing to an improvement in family health.
  • Low cost and simple works. They can also be done in parts, minimizing expense and inconvenience.
  • Improvements in the acoustic behavior of the house are achieved, improving the insulation in an amazing way.
  • Improvements in home security thanks to its reinforced structure.
  • Better lighting.
  • Aesthetic issues.

Are your windows damaged?

So the best way to solve the problem is to replace them, even repairing the windows will end up costing a lot of money so it is much better to replace them. In the end, window replacement is the best option you can have if you want quality and value, with the right window replacement service, you will be able to remove the old windows and install new ones at any time, that is definitely going to make the experience. excellent, and the return on investment will certainly be huge.