How to Hit a Curveball Confront and Overcome the Unexpected in Business By: Scott R. Singer, with Mark Levine Published: April 1, 2010 Format: Hardcover, 256 pages ISBN: 9781591843108 Publisher: Penguin/Portfolio “If you want to make the majors, and have a future in either a corporate structure, as an entrepreneur, or as an independent professional, you need to be able to deal with unanticipated events and scenarios. The same is true for your personal day-to-day life”, writes managing director and head of media and entertainment at the Bank Street Group, Scott R

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How to Hit a Curveball by Scott R. Singer – Book review

When a business owner or financial executive makes the decision to factor invoices , he or she usually wants to start as soon as possible.  Like any other financing, there are steps to be taken for approval.  With accounts receivable factoring, qualification usually isn’t nearly as cumbersome as applying for a bank loan.  But it is important to have your ducks in a row when submitting the package to the factoring company. Most invoice factoring companies expect a completed application , which consists of information about the company, it’s management, and it’s customers.  In addition, a current aging report of receivables, past two years financial statements, and corporate or LLC documents is required.  Some factors ask for more information on the front end, but for the most part, these documents are what is needed for the factoring company to make a preliminary evaluation

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Submit a Complete and Organized Package

Early Wynn once said “I don’t like losing a ballgame any more than an accountant likes losing an invoice” Not really, here’s what he really said: “I don’t like losing a ballgame any more than a salesman likes losing a sale.” -Early Wynn Early Wynn was an outstanding pitcher, feared by every batter in the Major Leagues. His presence was known when he walked on the field.

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The Truth about Losing Invoices, According to Early Wynn

Joe Paterno once said “Losing a game is heartbreaking. Losing your invoices is a tragedy”  Not really, here’s what he really said: “Losing a game is heartbreaking

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The Truth about Losing Invoices, According to Joe Paterno

In must invoice factoring relationships, the client’s accounts receivable is the only collateral available to the factoring company.   Since the client receives cash advances via wire transfer within 24 hours of submission of invoices, the factor must have assurance the invoices will ultimately be paid.  They also must be able to account for these payments in terms of the amount and the exact date they were paid. Many accounts receivable factoring customers don’t understand why they couldn’t continue to receive the payments from the debtor, then forward them on to the factoring company.   The answer is simple.  Because the only collateral they have available to them is the receivables, it would be foolish to allow someone else to have complete control of that collateral.  That’s why factoring companies send letters to the debtors directing them to send payments to a lockbox that they control. Unfortunately, there has been a lot of fraud related to factoring transactions.  some of the cases involve misdirecting of payments or even collusion between the client and the debtor.  That’s another reason why it’s so important for the factor to limit their exposure.  In the long run, these controls help all clients

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Debtor Payments Must Be Made to the Factor

March 21, 2010 (FinancialWire) The hardware and the IT services markets have traditionally grown faster in India. Economic growth and globalization have made Indian companies adopt best practices and improve capabilities with their products and services to compete in a global market place. BPO, on the other hand, in the domestic market is still nascent but propensity towards adoption is higher

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Indian Domestic IT BPO Market Growing

Cold Adventures in the World’s Frozen Places By: Bill Streever Published: July 22, 2009 Format: Hardcover, 304 pages ISBN: 9780316042918 Publisher: Little, Brown and Company “The world warms, awash in greenhouse gases, but forty below remains forty below”, writes Chair of the North Slope Science Initiative’s Science Technical Advisory Panel and noted biologist Bill Streever, in his lyrical tribute to all things cold and frozen Cold: Adventures in the World’s Frozen Places . In language akin to poetry, the author shares his heartfelt love for the Arctic, and for the cold places of the world, and the plants, animals, and people who love in those frigid climes

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Cold by Bill Streever – Book review

Kevin Coupe , of MorningNewsBeat , and co-author along with Michael Sansolo , of the endlessly entertaining and insightful book The Big Picture: Essential Business Lessons from the Movies , was kind enough to take the time to answer a few questions about their book. Kevin Coupe shared the background of the book and a number of examples of why movies are essential sources of business knowledge. He even shared a few must see movies that every business person should watch for the wisdom contained in their stories

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Kevin Coupe & Michael Sansolo: The Big Picture – Author interview

The Big Picture Essential Business Lessons from the Movies By: Kevin Coupe , Michael Sansolo Published: January 15, 2010 Format: Paperback, 232 pages ISBN-10: 0971154287 ISBN-13: 978-0971154285 Publisher: Brigantine Media “Business lessons abound in movies that aren’t about business”, write co-authors Kevin Coupe and Michael Sansolo in their endlessly entertaining and insightful book The Big Picture: Essential Business Lessons from the Movies . The authors describe how the power of story telling through the movies convey many important business lessons, even from movies that have no obvious business plot line.

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The Big Picture by Kevin Coupe & Michael Sansolo – Book review

When you go to the bank for a short term line of credit, chances are you’ll have to pledge some personal assets or at the minimum, offer a personal guarantee.  Such is not the case with invoice factoring . When you enter into a factoring arrangement, the funding source needs to make sure that the receivables are unencumbered.  This means that no one else can have a lien on your accounts receivable.   Factoring companies must have a first position on your A/R because that is usually the only collateral they will have.

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Collateral