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Hitachi Invoice Factoring

Hitachi are one of the largest funding providers in the UK, helping more than 650 businesses by lending a total of over £72m in the year 2014 alone. Offering a range of funding products to suit businesses in a variety of sectors, they are also one of the most highly regarded providers in the industry.

Features

Hitachi provide broad expertise regarding alternative lending, as well as payroll management, for businesses of all sizes, making them one of the most accessible, and flexible, funding providers in the country. With so many features to consider, suitability is almost guaranteed for those seeking an invoice factor. These include:

  • Prompt Release Of Funds
  • 85% of Invoice Made Available
  • Professional Payment Collection
  • Flexible Terms And Conditions
  • Credit Protection
  • Switch From Another Provider Service
  • Accessibility And Eligibility

Prompt Release Of Funds

One of the main reasons a business will seek the services of an invoice factor is in able to gain access to future funds that are forever hindering cash flow and future investment. While most factors will release a large percentage of the value of your invoices within 2 or 3 days, Hitachi endeavour to make sure you receive your funds within 24 hours, which makes the facility even more effective than most of their rivals.

85% Of Invoice Made Available

85% of the value of the invoice that is released upon presentation to Hitachi is fairly standard for the industry, although in some circumstances this can be higher or lower. For the most part, these differences are insignificant but that will depend on the size of the invoice and the immediacy of your financial requirements.

Professional Payment Collection

Although you do have the option of maintaining control over payment collection with their invoice discounting service, many businesses prefer to outsource this part of the process to a professional. As Hitachi have a wealth of experience in the field, you can be sure that their service will take into account your relationship with your clients while making the process more efficient.

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Flexible Terms And Conditions

Through time the chances are your business’s needs will change, and as such it is important you employ the services of a funding provider that can take this into account. This is particularly the case for small businesses and start-ups. Hitachi provide a funding method that can easily be adjusted throughout the duration of the contract, so the service will not become a hindrance to your company’s ability to grow.

Credit Protection

Rather than offering rigid packages that do not take into account the specific needs and capabilities of each business, Hitachi allow a high level of customisation within their factoring service. This is particularly keenly felt regarding bad debt protection. Depending on your circumstances, and those of your clients, Hitachi provide up to 90% cover for all outstanding payments and what’s more, studies have shown the involvement of a professional in this area improves reliability of payments significantly.

Switch From Another Provider

If you are already tied into a contract with another provider, Hitachi can make the transition to them as smooth and as pain free as possible. Although you will have to meet the terms and conditions of your previous contract, which can be costly to get out of, they will take care of all the technical issues that can arise.

Accessibility And Eligibility

As previously mentioned, Hitachi are one of the more accessible providers for small and large companies alike. As long as you are a B2B, Business-to-Business, UK based company, Hitachi will consider your application seriously. To illustrate this point, their factoring service has no set minimum annual turnover limit, although this does not mean they will provide funds to just anyone. What it does mean, however, is that they are willing to listen to every candidate and judge them on their specific merits, and not just their company’s data. There is a minimum limit for the invoice discounting service, which is relatively low at £250,000.

Support

Hitachi provide a few methods of support, all of which can be useful to both existing and potential customers. Two UK offices provide support telephone lines for invoice factoring and there is also an online form in which the company attempt to reply to as promptly as possible. Hitachi client managers personalise the interaction, allowing you to build up a relationship that is more akin to a partnership than an outsourced service> This is vital when dealing with something as important as cash flow, payment collection and company data.