Accounts Receivable Financing and Factoring Facilities Help Canadian Businesses Grow!
Recent Studies in the U.S., (and we believe the Canadian business landscape is very similar) suggest that one of the most viable ways for businesses to grow and continue growing in the current economic and somewhat difficult credit environment is to consider a factoring working capital facility for their business. This type of financing facility is also known as an accounts receivable financing facility.When business credit and access to business credit gets difficult Canadian business owners should of course investigate every ‘tactic ‘to get their company financing properly.If your company is doing reasonable well, and the general economic and business and credit environment is quite positive naturally more traditional financing is considered – as a Canadian business owner you know the drill – prepare an executive summary or business plan, produce several years of financial statements, and meet with your Canadian chartered bank to discuss receivable or term financing. The reality of today’s economic environment is that many businesses aren’t in a position to pursue this traditional financing and therefore must consider what the alternatives are.One of the appeals of factoring / accounts receivable financing is that your business is generating positive cash flow right out of the gate.One of the other main benefits of such a facility is that business owners and financial managers can focus on running their business, and not spending all their time on cash flow problems and working capital challenges. We would point out that the time save on collections of course refers to the factor that the finance or factor firm is the one collecting your accounts receivable. Many business owners do not like this direct contact with the customer, and that is one of the reasons that the Canadian business environment has, relatively speaking, been ‘ slow ‘ to catch on to factoring.This necessitates a brief discussion around the concept of notification and how factoring has traditionally been done in the U.S. and elsewhere in the world. Factoring started hundreds, some say thousands of years ago in Europe and Asian. Traditionally it involved the total ‘sale ‘of your receivables, your firm got the cash but you didn’t own or collect the receivable at that point. In recent years, due to the creativity of the North American financing markets there are numerous other product offerings related to factoring, one of which is ‘ non – notification ‘.We believe non-notification factoring is the absolute best solution for Canadian business owners who are considering alternative financing. Under non notification type facilities you bill and collect your own receivables, while at the same time receiving cash for them as soon as you generate your invoices. This provides a double whammy, so to speak!1. You bill and collect your own receivables and get cash ASAP2. You maintain the relationship with your customer, which is key to most Canadian business ownersAs we have noted in the past factoring is more expensive than traditional financing, but that premium that is paid provides you with literally all the cash you need to grow your business. Savvy Canadian business owners are able to use that cash to improve supplier relationships, take prompt payment discounts, and purchase more inventories for sale to their customers. In certain cases, all, yes we repeat, ALL! Of the costs of a factoring facility can be offset by good gross margins and strong operating efficiencies.Is it any wonder by factoring, accounts receivable financing and non traditional working capital facilities are becoming more popular in Canada? We don’t think so!
What is Pack Shot Photography?
Retail and commerce companies in Yorkshire use pack shot photography extensively to promote their products and services, both online and in printed literature. The term has become synonymous with commercial photography for advertisers.A pack shot, or packshot, is a still or animated photographed image, usually including labeling and packaging, which is used to advertise a product. Pack shot photography is a lucrative way to increase revenue for both the merchandiser and the commercial photographer. Done with flair, it will promote a product’s reputation, stimulate sales and trigger recognition of the item both on and off the shelf. It also gives the customer important details about the product, especially if 360 degree pack shot photography is used.Pack shot photography requires a high degree of trust between the photographer and their client. In the past, forged and leaked packshots have led to damaged reputations and court cases. Of all the forms of commercial photography there are, packshots probably require the highest level of security and confidentiality.Types of packshot photographyA packshot can be as simple as a photograph of the product on a white background, or as elaborate as a short, stop-motion animated movie. Commercial photography is almost entirely digital these days, which has opened up realms of possibilities, with a wealth of professional software available to photographers.For example, let’s look at the centre of Leeds. Packshot photography can be seen wherever you look, advertising foodstuffs, cleaning products, mobile phones, jewellery, toys, motor vehicles and more.Packshot photography isn’t limited to brochures, posters and magazines. As well as company websites, packshot images can be seen on t-shirts, ties, and sides of buses. Once the packshot has been digitally rendered, it can be used on anything that will take a printed or projected image.Packshot photography for websitesWebsite packshots are always taken on a white background. They are purchased as “packs” of 20 or more images, in 2 or more sizes. Once complete, the pack is delivered to the customer in either file format or via their content management system. Some commercial photography companies offer a full media service, while others just supply the shots, leaving the customer to do the post-production work themselves.360° packshots are a form of online commercial photography allowing the customer to view the item from all angles – as they would in a store. Used on objects of all sizes, it can incorporate zooming techniques and other innovations. Another option is stop motion animation photography, which is widely used on products with moving parts, such as kitchen gadgets and motor cars.High resolution pack shot photography Commercial photography is still most often associated with printed media. Professional photographers today can offer digitally enhanced, high resolution packshots for catalogues, brochures and promotional leaflets, as well as for newspapers and magazines.Packshot photography for print publications usually involves a clipping path. Produced using professional digital software, the photographer will shoot onto a plain white or coloured backdrop and then “snip” round the image, allowing it to be used on an infinite number of backgrounds. The same image can therefore be used on both the company’s print literature and its website.