Key Services
The ethos of Reibanq is very much focussed on understanding its client’s needs and assisting in creating wealth and jobs in the region. This naturally leads to a partnership approach with their clients, and a specifically designed internal structure, whereby the client can enjoy close and personable relationship with highly-trained and experienced staff.
Invoice Factoring
Factoring allows you to draw the whole amount of the value of an invoice – allowing you to focus on developing your business, rather than worrying about when your customers are going to pay you.
Imagine the benefits to your business if all your customers paid you within 24 hours and imagine never having to wait 30 or more days for your customer to pay you.
With a Factoring solution from Reibanq, you can get your well-earned money straight away.
What is Factoring?
Factoring is a flexible solution that advances working capital to a business as it issues new invoices. Cash-flow is the lifeblood of any business and Factoring simply allows you access to your cash the moment you raise an invoice. According to Wikipedia, Factoring is: a financial transaction and a type of debtor finance in which a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount.
It is the umbrella term for many forms of Invoice Factoring, such as Disclosed Factoring, Confidential Factoring and Recourse Factoring. It is the most common form of Invoice Finance in the UK and the number one alternative to bank overdrafts and bank loans.
How does it work?
Instead of waiting for all your customers to pay you, by using Factoring, you are able to receive funds up to 90% of the value of your unpaid sales invoices.
Our experienced and professional credit control team will then take the responsibility for securing the payments from your valuable customers. The remaining 10% is then advanced to you upon payment from your customer, less a fee.
Don’t want your customers to know that you deal with an Factoring company?
Don’t worry! With our receivables and payables managed accounts solutions our friendly credit control team can do all the collections in your company’s name.
What are the benefits of using a Factoring solution?
- Increased cash-flow and access to working capital which leads to an array of financial benefits for your business.
- A more consistent cash-flow cycle can help businesses meet their payment obligations, paying suppliers, paying creditors etc.
- Factoring can be much more flexible than a bank loan or bank overdraft – the facility limit will generally increase as your sales increase.
- Reibanq Ltd is part of Reibanq Group – it’s in our culture to care for our clients.
- Our fees are completely transparent.
- Free credit reports on your clients.
- We promise to look at every single applicant in detail.
Caring for our clients.
When you become our client you’ll be pleased to know that we boast an extremely low client-to-staff ratio meaning that you will have a direct relationship with our experienced relationship manager.
Accounts Receivables & Payables Management
What’s the difference between accounts payables and accounts receivable?
Accounts receivables (AR) refers to the amount of money that’s owed to a company for goods or services but hasn’t yet been paid. They’re listed on the balance sheet as an asset and are created when companies allow buyers to make a purchase on credit.
Accounts payables (AP) is essentially the opposite of accounts receivable – it’s the amount of money that a company owes to other businesses. While accounts receivable are listed as assets, accounts payable are classified as current liabilities.
Accounts payables and accounts receivables play a big role in the trading companie’s cash flow. For many businesses, late payments have become the norm. In fact, small-to-medium businesses in Europe are routinely paid 18 days late for goods or services, while 1 in 6 of their invoices remain unpaid after a period of 90 days. Having so much cash languishing on the balance sheets can prove challenging, as it leaves businesses without enough capital to invest in growth or reduce debt. As a result, an effective accounts receivable business process flow, can have a seriously beneficial effect on the financial health of any trading company.
By the same token, it’s incredibly important to properly manage the accounts payable process. Without a full understanding of who and what your business owes, there’s no real way to determine the financial health of your business with any degree of accuracy. Missing payments can lead to late payment interest or damaged relationships with customers, while too many current liabilities on your balance sheet could result in significant cash flow problems. Overall, optimising your accounts payables and accounts receivable processes and procedures, is a great way to improve your company’s cash flow and financial health.
How does accounts receivables payment processing work?
The accounts receivables business process flow is relatively straightforward. There are three main steps that the accounts receivables team will go through when chasing a payment:
- Send the invoice – After work has been completed, an invoice will be sent to the customer immediately.
- Track the invoice – Invoices will be tracked on a regular basis, and if payment hasn’t arrived, reminders will be sent to customers.
- Receive payment – When payment has been received, the accounts receivable team will mark it as ‘paid’ and enter it into the accounts receivable ledger.
How does accounts payables work?
As with accounts receivables payments processing, there are three key steps associated with the accounts payables process, although it’s important to remember that for many larger businesses, a significant amount of time may elapse between these steps:
- Receive the invoice – After you’ve purchased goods or services from another business, you’ll receive an invoice requesting payment.
- Record the invoice – The next step will be to record the invoice in the accounts payable ledger.
- Send payment – Finally, payment will be made, and the entry should be removed from the account.
Compliance & Risk Management
Reibanq’s Compliance and Risk Management Services allows businesses to improve the quality of trading management practices and governance from the decision to develop to final delivery of trading outcomes. Risk management promotes dialog between all stakeholders and sponsors and supports realistic approaches, plans, and project estimates.
Our risk management service provides significant benefits including:
- Senior leadership has better quality and more meaningful engagement with customers and stakeholders.
- Substantially improves communications between all project stakeholders; including sponsors, customers, project managers, team members, subcontractors and the public.
- Creates useful information in the form of contingency budgets for cost and schedule.
- Generates insights concerning where real estate and other kind of projects needs attention.
- Provides a foundation for examining and understanding the health and performance of the projects.
- Suppliers and subcontractors are more cooperative and proactive to address issues and challenges.
- Anticipates what could happen to impact projects performance and to engage key stakeholders in critical conversations about the projects.