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Make sure you’re getting the full benefit from this useful feature.
If you use C2FO, you know it’s a great way for businesses to get paid faster. But our platform can be helpful before you ever accelerate an invoice.
Invoice Central, one of C2FO’s most useful features, consolidates a wealth of information about your receivables in one place. Here are just a few of the things you can do through its interface.
Invoice Central will show you all the invoices that your customer has uploaded to the platform and are eligible for early payment. You can also view the total amount of early payment that you may be able to access.
For companies that need a cash infusion, Invoice Central provides a straightforward way to see the potential opportunity in accelerating their receivables.
If you have multiple customers on the platform, Invoice Central will break out the invoices by company and show you how much each customer might be willing to make in early payments.
When you can see all your eligible invoices in one place, you can be more selective about which ones to accelerate.
Maybe one of your customers typically seeks a higher discount. You can give a greater priority to invoices from other customers instead and leave out any receivables you don’t want to accelerate right away.
Or you could get early payment in the amount and discount rate you want by selecting invoices from multiple buyers and “bundling” them. Even if one or two of the invoices are discounted at a higher rate, the average rate is what matters if it’s lower than a business loan or factoring arrangement.
When your customer approves a discount offer, Invoice Central will record that news. Maybe you need to forecast how much cash you’ll have available over the coming week. An approved offer means payment is on the way, and Invoice Central’s interface will show you when it was sent and when it is expected to arrive.
At the same time, Invoice Central can also alert you if there may be a problem with an invoice.
For example, if a customer usually uploads your company’s invoices to C2FO, and one of those invoices doesn’t appear in Invoice Central, that could be a sign that something has gone wrong. Maybe the invoice got lost or wasn’t sent to the right person. Instead of waiting until the invoice is due, your company can investigate earlier and ensure prompt payment. You can forecast your cash position even if you don’t request early payment.
Need more information about a specific invoice? Invoice Central lets you filter by company, payment date, invoice amount and other factors.
While Invoice Central is an easy way to monitor your invoices and early payments, you might want to use some of that data elsewhere — for example, in a company report or as part of an analysis. No problem. You can download your data and use it however you need.
If you have more questions about Invoice Central — or if you need help activating your account — contact C2FO’s team today.
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