Factors know they need social media. Many Factors have a Facebook and or LinkedIn page. The same social media platforms that work for people and employees don't really deliver the potential that an industry specific platform such as FactorsNetwork is capable of providing. Companies need networking sites specific to their industries.
FactorsNetwork gives Factoring companies the opportunity to come together, Factor to Factor, and collaborate for our mutual benefit. There are no membership fees and all services are free if you share trade experience data on our CreditExchange program. Why should we give so much money to third party credit agencies when we can build a superior service by working directly together on FactorsNetwork?
Our goal is to bring the entire Factoring community together on one website. When we are all communicating freely, in one centralized location we will all be more profitable. We can help each other on Credit, Due Diligence, Fraud Prevention and much more. Take fraud prevention for example, it make no sense to us why in this day and age fraudsters are able to roll through Factoring companies, committing fraud after fraud. Often times they will resell the same fraudulent documents to multiple Factors. We like to use the Credit Card companies as a model. The Credit Card companies communicate so someone can't defraud Visa and then get an American Express card. Factors deserve a similar system to ensure our mutual security.
Leveraging our knowledge and connections with website design, FactorsNetwork started with FNCreditExchange. We started with the CreditExchange because our Factoring company was spending too much money on Credit Reports. By offsetting that cost we have been able to finance the development of the site. Additionally, we knew that offering such a high value product for free was the only way to achieve our goal of bringing the community together, to get every Factor onboard. Once that happens the sky is the limit.
FactorsNetwork offers a host of valuable online services that any Factor can use and increase their profitability overnight. Please visit our Products menu for detail on each offering.
FactorsNetwork shall continue finding innovative ways to change the status quo and help Factors increase profitability.