Besides the account of the invoices factoring company can carry out a number of other services connected to accounts and basic financial activities of the client:
- to conduct complete book keeping of debts;
- to advice on organization of accounts, conclusion of the economic contracts;
- to inform on the markets of selling, prices for the goods;
- to give transport, warehouse, insurance, advertising and other services.
In these conditions factoring becomes universal system of financial service of the clients (conventional factoring). Behind the client the production functions are kept practically only. At such forms of factoring the client can essentially reduce own staff of the employees that promotes decrease of costs on manufacture and selling of production. But simultaneously there is a risk of almost complete dependence of the client from of the factoring company, as such attitudes conduct to complete notification of the factor about businesses of the clients, submission to their influence and control.
Now the factoring department can give clients the following basic kinds of services:
- to get at the enterprises - the suppliers the right on reception of payment on commodity operations from the certain buyer or group of the buyers, which structure beforehand is coordinated with factoring (purchase of urgent debts on the goods shipped and services rendered);
- to carry out purchase at the enterprises - suppliers of debts on the goods shipped and services rendered, outstanding in time by buyers;
The essence of operations on services of 1-th group consists of that the department guarantees to the supplier payment exposed by it on the payment requirements, determined by the payer, - assignments immediately per day of presentation them in bank for collection. Prescheduled (before reception of payment or the payment requirements - assignments of the supplier actually is direct from the buyer) means granting to it factoring of the credit, which liquidates risk of delayed receipt to the supplier of payment, excludes dependence of its financial position on insolvency of the buyer. In result, having money resources received immediately on the account, the client of factoring has an opportunity, in turn, without a delay to pay off with the suppliers.
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