Invoice finance is a great way to keep cash flowing and your business on track. Getting your invoices paid early gives you more freedom to cover expenses and invest in growing your business. Whether you’re new to invoice finance or just want to get more from your facility with Apollo, here’s how to make it work harder for you.
1. Pick the Right Customers to Finance
Apollo’s facility lets you choose which customers to finance. Focus on customers with long payment terms or larger invoices – they’ll make the biggest impact on cash flow. Being selective keeps costs down and leaves your facility free for when you really need it.
2. Know the Costs and Minimums
Like any finance facility, there are costs to consider, especially with monthly minimum fees. Planning for these helps you stay on top of things. Make sure you’re invoicing enough each month to meet minimums without surprises.
To understand more about the costs of invoice finance, check out our blog: How Much Does Invoice Finance Cost?
3. Keep a Regular Eye on Your Invoicing
Keep an eye on aging invoices. If any invoice goes over 90 days, you’ll need to repay it, which could affect cash flow if you’re not prepared. Staying on top of this helps you avoid cash flow disruptions and keeps the facility running smoothly.
4. Track Your Facility Usage
Each facility has a limit, so it’s good to check your usage now and then to avoid hitting that cap unexpectedly. Staying aware of your limit also helps you plan ahead and spot when you might need more funding.
5. Raise Invoices Promptly and Accurately
To keep cash flowing smoothly, only raise invoices once your work is done, and double-check client details before submitting. It’s a small step that can make a big difference in avoiding delays and keeping cash moving.
6. Keep Apollo Updated on Your Customer's Details
If your customers’ contact info, structure, or anything important changes, update Apollo right away. This keeps things running smoothly without interruptions.
7. Stay in Touch with Your Client Manager
Your Client Manager’s there to help, so keep them in the loop on your cash flow needs and goals. They can help you get the most out of your facility and spot opportunities to improve your funding strategy.
8. Use the Free Client Portal
Apollo’s portal makes it easy to stay updated on funding requests, available funds, and invoice status. It’s a one-stop shop to keep on top of everything.
9. Meet Cut-Off Times
Apollo has set cut-off times outlined in your facility guide. Knowing these means you can plan for same-day funding. For Apollo, payments are arranged by 1pm.
Get the Best from Your Facility
Your invoice finance facility is there to make cash flow easier, so make sure you’re using it to its full potential. If you have any questions, reach out to your Client Manager. They’re ready to help you keep things running smoothly.
