What is an Aging Report and why does it matter?
A key tool for success for small and mid-sized businesses is an aging report. But what exactly is an aging report and why is it so important?
An aging report is often referred to as account receivables reconciliation, which is essentially a compilation of all your invoices.
One of our “Favorite” Partnerships in Healthcare
At Kompass Funding, we are fortunate to have the opportunity to partner with one of the most tenured and respected medical staffing companies in the country, Favorite Healthcare Staffing.
Get to know our CEO: John Minnis
Some of you may not know who is steering this ship and that is why we wanted to do this week’s team member spotlight on our fearless leader, John! John’s role spans across all aspects of the company including business development, underwriting, relationship management, finance, and marketing.
Funding for an Uncertain Future
Although the ripple effects of COVID-19 are still prevalent today, we want to take this moment and recognize people’s adaptability and resilience over this last year. Many of us turned bedrooms into offices, living rooms into gyms, and kitchens into personal 5-star restaurants.
What are the differences between invoice funding & a bank loan?
When business owners are faced with financing and funding challenges, many of them will turn to banks for help. And in some situations, bank loans make sense! However, invoice funding can also be an option to help with cash flow needs. That is why we pulled together some of the key differences between invoice funding and bank loans to help determine which option may make the most sense for your business.
Strategic Partnership: NATE, The Communications Infrastructure Contractors Association
ver the last year, wireless and internet service demand hit all-time highs as millions of Americans were forced to move their workspaces from an office to their living rooms. With 5G already an initiative going into 2020, providers were forced to accelerate their efforts towards 5G implementation across the nation.
What is Supplier QuickPay and how does it work?
According to the SBA, 99.9% of all businesses in the US are considered small businesses meaning they have less than 500 employees. At the same time, small businesses tend to work with over hundreds of suppliers! We’ve found that for many business owners, managing supplier payments and their accounts payable can be a challenge.
Team Spotlight: Operations Manager, Abby Nolte!
Join us in welcoming our newest team member, Abby Nolte, from NYC! Abby recently joined Kompass Funding as our Operations Manager. She was previously based in mid-town Manhattan at JPMorgan where she focused on sales and distribution strategy for their exchange-traded fund (ETF) platform.
What are the benefits of invoice funding?
For many businesses, limited cash flow tends to be a problem owners choose to “deal” with. Lack of cash flow can be the result of many reasons. For example, if clients take a long time to pay for your goods and services. Combine late payments with the impact of COVID-19, businesses are feeling more squeezed for cash than ever. But instead of “dealing” with the problem, invoice funding can help alleviate some of your cash constraints.
