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Long Haul Trucking Company
A business owner has a long list of responsibilities and some of those responsibilities could even be termed as burdens. The administrative paperwork involved with state and federal labor laws can take up a lot of time that could be better spent on something else. In some cases, a corporate financial responsibility can be looked at as an investment in the company's future, which takes the edge off of dealing with it each and every week. One good example of this kind of investment is payroll.
Your company's payroll is something that your employees look forward to for a variety of reasons. The most compelling reason is that staff paychecks allow staff members to afford their lifestyles and be able to enjoy interests outside of the office. There are many different reasons why payroll can be looked at as something of significance to your company, as opposed to viewing it as a recurring burden that puts a financial strain on your organization.
Payroll Reflects The Value Placed On Your Staff
As a business owner, it is always easier to analyze something if it is put into numbers. A reliable set of numbers allows you to place a value on something and it also helps when it comes to comparing corporate assets from one year to the next. Your payroll allows you to put a number on your staff's productivity and the compare that number to the actual output that you get each year. Company's sales and profit numbers can be compared to payroll for each year to make sure that the company is getting the best value from its staff.
When you put a number on your staff by using payroll, it turns payroll into an important corporate economic indicator. Every business owner finds convenience and value in being able to utilize economic indicators to map company progress. This turns payroll into a number that is carefully monitored each day and not a burden.
Payroll Motivates Employees
Motivated employees offer a significant amount of value to your company, and one of the strongest employee motivators is payroll. In some cases, it is not even the monetary value of payroll that causes it to act as staff motivation. The mere fact that payroll is paid on time and in full can act as a strong morale booster for the entire company. The efficiency of payroll becomes even more powerful when your competition starts missing payroll or develops payroll issues.
When you offer competitive wages to your employees and you pay employees on time, then your staff tends to act as recruiters for your company's future. You will find that motivated employees are eager to refer friends and family members as prospective employees to help the company's future growth. The competitive nature of your compensation and your dedication to efficient payroll practices motivates your employees to take a vested interest in the success of your organization. It transforms payroll from a burden to an exciting employee motivation tool that boost morale and strengthens recruiting.
The Challenges To Efficient Payroll Practices
Once you are able to transition payroll from a burden to a very powerful business tool, you then start to examine ways that you can make your payroll practices more efficient. In order to capitalize on the benefits of strong compensation and the consistency of reliable payroll numbers, you have to meet your payroll obligation each and every pay period. The ideal solution is a strong cash flow that comes from your invoiced sales, but this is not always available.
Past due invoices can be one of the biggest challenges to efficient payroll practices. Your invoiced sales may be brisk, but customers who allow their invoices to go 30 or 60 days past due slow your cash flow and make it extremely difficult to meet payroll obligations with cash.
Borrowing Funds Can Make Payroll A Burden
One of the frustrating things about transitioning payroll from a burden to a benefit is the need to borrow funds to sustain consistent payroll payments. The most common solution that companies come up with is a bank line of credit. But the compounding interest and recurring service charges make a bank line of credit an inefficient way to meet payroll obligations.
In emergency situations, a company may turn to a bank loan to fund payroll. But a bank loan is a long-term obligation that should never be used to meet recurring payroll obligations. Not only that, but the unpredictable nature of bank loan approvals could cause you to miss your payroll payments if you are relying on the bank to get back to you in a timely manner.
Invoice Funding Makes Payroll Easy
Funding of invoices is the best way for your company to meet all of its payroll obligations without taking on extra bank borrowing debt. 1st Commercial Credit is an invoice funding company that uses your outstanding invoices as collateral towards cash advances directly into your company bank account. The past due nature of your invoices will never affect your ability to make your payroll obligations ever again.
Your outstanding invoices are assets to your company. We will work with you to use invoice funds as your cash flow by advancing you cash for your verifiable invoices made out to creditworthy clients. We put those assets to work for you and make sure that your company has the funds it needs to keep your employees motivated.
1st Commercial Credit Is An Invoice Funding Leader
We have years of experience in helping small to medium sized businesses all over the world to use their invoiced sales to meet payroll obligations. We have billions of dollars in resources that we are able to advance in up to 17 different currencies. No matter where your company is located, we can help.
1st Commercial Credit works with companies in a wide variety of industries. Our experience in helping a wide variety of companies means that we know exactly how to help your company. We can put together a customized invoice funding program that will utilize your invoiced sales as your source for the cash you need to meet all of your payroll obligations.
Funding Of Invoices Is Your Payroll Answer
Our customized invoice funds programs will give you a flexible business line of credit that is based solely on your own company's sales efforts. We are not a bank and we are not putting together loans that will expand your company's debt. Everything that we do works from the cash your company has already generated, but cannot get its hands on because of past due invoices.
We have no set-up fees and we also charge no facility fees. We advance you the face value of your invoices, minus our small lending fee. The 1st Commercial Credit invoice funding program does not have a per month or per invoice minimum limit to worry about. We will work with you regardless as to how much cash you have generated. It is your money and we want to make sure that you get it when it is time to meet your payroll obligations.
Funding Invoices Makes Payroll A Pleasure
1st Commercial Credit utilizes the credit scores of your clients to fund invoices. That means that we can help you even if you have bad credit, or no credit at all. We have extensive experience working with start-ups who want to enjoy the benefits of making payroll payments on time and having a motivated workforce.
Don't let your payroll continue to be a burden to your company. Let us set up an invoice funding program that will improve your cash flow and allow your company to meet its payroll obligation without having to worry about the extended debt created by borrowing funds.