There are very few things that have had as big of an impact in shaping economic forces than the oil and gas industry. Petroleum is vital to so many other industries, including energy, transport, and manufacturing, among others. If you own an oil and gas investment company, it’s very likely that the demand from investors can be difficult to meet, especially since petroleum is a finite resource.
How Invoice Factoring Best Serves Your Oil and Gas Investment Company
When you work in an global industry like oil and gas investing, it’s extremely important to stay ahead of the curve, and be able to meet the demand of a growing clientele base. When you need to expand your services, invoice factoring is a great way to obtain working capital in a fast, secure manner.
Use Factoring Services To Obtain Capital For Land
For people involved in the oil and gas industry, one of the most important aspects of succeeding is literally being in the right position. There are only so many locations that have access to oil, and owning the proper land is crucial. When you have clients who frequently delay on their invoice payment, it puts you in a bind because you’re waiting on that capital to invest in new land. Fortunately you have access to non-recourse invoice factoring. What this means is that a factoring company will purchase your lingering invoices and advance upwards of 96% of the total, all for low rates. Best of all, this can be done in under 24 hours, which means you won’t have to miss out on an important land deal.
Oil and Gas Factoring Means More Money For Research
Another way you can spend your influx of working capital from oil and gas factoring is by putting it towards new research. The oil and gas industry has evolved so much even in this century, and staying ahead of the competition is critical to success. Research advancements mean not only finding, better, efficient ways to obtain oil from wells, it also means utilizing better equipment to do more work in less time.
Invoice Factoring Gives Your Company Better Staffing Flexibility
As an oil and gas company, you’re going to employ large staff of talented, diverse, and intelligent individuals to get your investors what they’re looking for. One of the worst things you can do for your business is have a delay on payroll, or not have the means to give your hardworking employees appropriate compensation. You don’t want to lose talent to a competitor because they pay better. Fortunately, through oil and gas factoring, the fast turnaround of working capital gives you flexibility to either hire more staff, or provide additional payment to your current employees, enticing them to stay with you for the long haul.
Oil and Gas Factoring Gives You Expansion Versatility
As an oil and gas investment company, you wear a lot of different hats. Not only do you need to keep investors happy, but you also need to worry about the petroleum industry and how it’s changing. Don’t let delayed client payments keep you from staying ahead of the competition.