Gateway Commercial Finance Announces Development Of New Technology For "Confidential" Receivable Factoring Services
In a move to demonstrate its concern for confidentiality and to preserve relationships, Gateway creates a new proprietary system when it comes to managing a client's receivables
Online, February 14, 2013 (Newswire.com) - Gateway Commercial Finance announced it has designed a new Receivables Management Program that allows it to monitor invoices while using a low-level approach when interacting with a client's customer base.
"We know that one of the biggest obstacles companies face in working with a receivables factoring provider is their reluctance to let an outside firm contact their customers," said Marc J. Marin, Managing Director. "But with Gateway's new proprietary system, we reduce that interaction, if not eliminate it all together."
Receivable factoring companies are an alternative to banks when companies need capital quickly for a variety of reasons including payroll, expansion, payments to suppliers, etc. The factoring company buys the invoices in exchange for the infusion of needed funds.
Marin explained that traditional factoring companies use traditional methods of monitoring of those invoices including continual phone calls directly to customers, repeat mailings, etc.
However, Gateway has developed a state-of-the-art proprietary system where the collections are integrated seamlessly with the client's own accounting department. Many times the client's customers are unaware there is a third party involved. Payments are directed to a separate lock-box where they can be processed by Gateway's staff.
"With our many years experience in this field, we know our clients prefer this 'softcall' approach when it comes to dealing with their customers," Marin said. "After all, many businesses are built on personal relationships and reputations. We are sensitive to this arrangement, and do all we can to keep our presence confidential."
"There can be a cost involved in working with a receivables factoring company if the collection management is not handled properly and with discretion", Marin added.
That is why each of Gateway's clients is assigned a Relationship Manager who works closely with the company and is responsible for the management of their account and the monitoring of receivables.
"The system we use and the extra attention we give our clients is another reason why last year was our most successful year to date," Marin said. "That is why Inc. magazine recognized Gateway as one of the fastest growing firms in the nation."