Not only is the industry in a steady decline with dwindling orders and tough competition from overseas, they also have to deal with longer payment terms and payments not being made on time.
Sydney, Australia (PRWEB) May 31, 2014
Omniveta Finance, an invoice factoring company based in Australia, recently announced that they are now offering finance to the manufacturing industry. To help celebrate this new and helpful service, the company participated in National Manufacturing Week (NMW) in Sydney. Representatives from the company manned a stand at the event, which took place in mid-May. As a company spokesperson for Omniveta noted, taking part in NMW gave them the opportunity to get close to the manufacturing industry and learn more about it, while also advertising their new service.
“The massive interest we received confirmed that our service is a great fit for the manufacturing companies,” the company spokesperson said, adding that the industry is currently going through a period of uncertainty.
“Not only is the industry in a steady decline with dwindling orders and tough competition from overseas, they also have to deal with longer payment terms and payments not being made on time. In fact, the latest figures show that only 40 percent of Australian invoices are paid on time, with manufacturers waiting an average of 52 days to get paid by their customers.”
Despite these troubling statistics, the company spokesperson for Omniveta noted that finance companies still require that manufacturers lock into financing a fixed amount for 12 or 24 months.
By participating in NMW, representatives from the debtor finance company saw first-hand how the manufacturing industry needs a flexible finance solution that can move and change with them as they experience business-related ups and downs.
“As the only invoice factoring company offering fixed rates and no hidden interest payments and fees, the manufacturing industry in Australia can benefit from getting paid in just 24 hours instead of waiting 52 days to get paid, immediately speeding up their cash flow,” the company spokesperson for Omniveta explained, adding that a number of manufacturing companies have already benefited from the company’s service since they met them at NMW.
Business owners and managers from the manufacturing industry, as well as other people who would like to learn more about Omniveta Finance are welcome to visit the company’s user-friendly website; there, they can read about the company’s invoice finance and cash flow finance services. In most cases, Omniveta can help their clients get immediate access to their working capital as soon as they submit their invoices to their customers.
About Omniveta Finance:
Omniveta Finance is the only factoring company offering fixed rates and no hidden interest payments and fees. The company has turned the model on its head with their fast, transparent and simple application process, including no personal guarantees, unnecessary interest payments and minimal paperwork. For more information, please visit http://www.omnivetafinance.com.au/