Last week, we had the opportunity to welcome back a client who had previously left us for a “cheaper” factoring firm. In exchange for “lower rates,” this client received less industry experience, poor customer service, and numerous hidden fees and surcharges, which PRN is fundamentally opposed to. In the end, all of these things drove them right back to PRN Funding barely three months after leaving.
Some services PRN Funding offers that the other factoring firm did not:
Familiarity with the agency’s clients:
Because of PRN Funding’s specialized niche in healthcare staffing funding, we worked with this company’s debtors (clients) before, so we already knew what type of payment terms to expect and who to call when there was a question about an invoice or recent payment.
Quick turnaround time:
Because PRN Funding has been in business for nine years, we understand the complexities of the accounts receivable factoring industry. We were able to process the buyout agreement quickly and initiate a funding within days.
Superior customer service:
PRN Funding takes pride in our customer service. Every time the nurse staffing agency calls the PRN office, a live human being answers the phone and directs the nurse staffing agency owner to his personal account manager.
The account managers at PRN Funding take the time to research and post complicated deposits directly. The well-trained and committed staff at PRN Funding work diligently to correctly post deposits in a timely basis every day.
Real time online reporting:
PRN Funding’s clients have access to the e-Factor reporting system via our web site 24/7/365. Rather than wondering what payments came in or what invoices are still open, this nurse staffing client is able to log into the reporting system and view their account in real-time.
Frustrated with the new factoring company’s lack of nurse staffing industry knowledge and inexperience in the factoring industry, this client found out the hard way that accounts receivable factoring firms are not a one size fits all.
This isn’t the first time that a client has come back to us after an unpleasant experience with another factoring company. And we have to admit that we’re really happy they came back!