Case Study: Invoice Factoring Company Speeds Debt Collection For Its Customers With Fortis

Factoring is the sale of accounts receivables at a discount in exchange for immediate payment. CJM Financial is an invoice factoring company that primarily serves the trucking industry, but also has customers in manufacturing, distribution and services. Based in Ankeny, IA, CJM Financial has been helping companies from start-ups to well established businesses since 1993. Independent truckers, for example, don't have the time and resources to analyze credit histories or ensure invoices get paid in a timely fashion. Truckers need to be on the road to keep money rolling in. CJM's invoice factoring service is a practical solution.

Providing top-notch customer service is essential for factoring businesses to differentiate themselves. The factoring process relies heavily on efficiently handling invoices and responding to customer inquiries quickly. CJM Financial wanted to streamline their factoring process to output invoices, quickly bring new customers on board and continue satisfying existing customers.

"We needed a system that could retain invoices and bills of lading and allow our account managers to quickly find these documents to send to our customers' debtors," explained Troy Murphy, owner of CJM Financial. "We wanted to streamline the process and avoid creating multiple photocopies of documents. Prior to Fortis, we had a solution, but it was not scalable as our business grew."