Tuesday, May 19, 2015

What do you look for in a mattress?

Traditionally retailers have believed that support is the most important thing to look for in a mattress.  However, a recent survey done by Furniture Today and Apartment Therapy found that only 40% of consumers consider support to be the most important feature in a mattress.

Today the most important feature is better sleep, followed by comfort, value, durability, and then support.  That said, support is still a very important thing to look for in a mattress and retailers know this.  Over 80% of retailers will mention support in their ads, while nearly 100% will mention it on the sales floor.

According to Bob Muenkel, director of sales education and development at Serta, "Maintaining postural alignment is critical for a healthy night sleep.  Think of proper support as an extra 30 minutes in your day.  When your sleep system does not support you sufficiently, it may take up to 30 minutes of stretching and moving to shake off those effects."

The survey also found that 68% of people prefer to sleep on their side, while 16% prefer sleeping on their back, and another 16% prefer to sleep on their stomach.

In other mattress related news, Connecticut has become the first state to offer a state-wide mattress and box spring recycling program.  The program is funded by a $9 tax on all mattress and box spring sales in the state.

If you have been dreaming recently about receivables and cash flow, give DSA Factors a call when you wake up.  We can't give you any Freudian advice, but we do have money to make your company grow!

Tuesday, May 5, 2015

Furniture Orders Up 7% For First Two Months of 2015

According to a report from Furniture Today at High Point, furniture orders from factories are up 7% in January and February as compared to this same time period last year.  The cold weather this winter did have an impact on orders, however, it wasn't as bad as it could have been.  According to the survey, 70% of manufacturers reported increases in January sales over the same month the previous year, while only 59% of manufacturers reported increases in February over the same month last year.

This is good news considering that in January and February of 2014 orders were down 2% from 2013.  That means that orders are up 5% in 2015 over 2013.  While that may not seem like a lot, it is still better than what was expected.

If your business is experiencing higher sale volumes and needs help with cash flow, factoring may be a good option for you.  While banks are still very tight with their checkbooks, factoring or accounts receivable financing can give you the money you need to keep on shipping out new orders.  At DSA Factors we have a lot of experience in the furniture industry and are familiar with most furniture stores nationwide.  We can get you approvals quickly and pay you for your invoices the day they ship.

Give DSA Factors a call at 773-248-9000 and let us handle your receivables so that you can focus on your sales.

Monday, April 27, 2015

Is your web site mobile friendly?


As of April 21st Google made a major change where sites that are not considered mobile friendly will be ranked lower on searches made on mobile devices.  It is important that businesses understand these changes and make sure that their site is mobile friendly.

What does this mean?

First of all, it is important to understand exactly what these changes mean.  If your site is not mobile friendly, it will not effect search results made from desktops, laptops, or tablets.  It will only effect searches made from mobile devices such as an iPhone, Android phone, or iTouch.

It will also only effect generic, non-branded queries.  For example if ABC Furniture Store does not have a mobile friendly site and you search "furniture store" from your smartphone, ABC Furniture Store probably won't appear in the results.  However, if you search "ABC Furniture" on your phone, ABC Furniture Store should still appear at or near the top of the results.

This change also will only effect individual sites that are deemed not mobile friendly.  For example if your home page is mobile friendly and your "Contact Us" page is not mobile friendly, then your home page will still appear in search results on smartphones, but your "Contact Us" page will appear much lower down.  Therefore even if you can't make your entire web site mobile friendly, it would be a good idea to make at least your home page mobile friendly.

Finally, just because you didn't update your page by April 21st doesn't mean that Google will never show your page on a search from a phone ever again.  Google is constantly crawling the web, so once you update your web site to make it mobile friendly, Google will see it, and you will reappear on searches made from smart phones.

So how do I know if my web site is mobile friendly?

Google uses its algorithms to determine whether or not your site is mobile friendly.  There are three main things that Google looks at:
  1. Are touch elements too close?
A touch element would a link or anything else that you would normally click on while viewing a site on a computer.  On a phone since you don't have a mouse, you need to touch these objects.  If you have two links really close together it makes it difficult for a phone user to touch the correct link.  Its very important that you make links large enough or far enough away from other links so that visitors to your site can easily touch them.
  1. Is your viewport configured?
This might be the trickiest thing to understand because what is a viewport?  Its quite simple, the viewport is simply the size of the screen you are viewing the page on.  On a tablet or computer you have a large screen so you can fit a wider web site design onto it.  However on a phone you have a very narrow screen, if your site uses a wide design then it will not fit very well onto a phone.  So you need to make sure that your mobile site uses a narrow, stream-lined design.
  1. Do you use a small font size?
This should be the easiest thing to fix.  Obviously using a small font size makes it very difficult to read your site.  Combine this with the small screens that we have on a phone and its nearly impossible to read your site.  So quite simply all you have to is use large or normal sized fonts.

To find out if Google considers your site mobile friendly you can submit it to Google's Mobile Friendly Test.

How can this effect my business?

If most people visiting your business's site are using a desktop computer, then this will have very little impact on your business.  However, if many people access your site from their phones then this could have a very large impact on your business.

Not only will your site appear much lower on Google searches made from a phone, but more importantly, visitors will have a very hard time reading and navigating your site from their phones.  As a result, even if they find your site, they will be less likely to read or stay on your site.

If you are at a trade show, most people you meet will be looking at your web site on their phone.  So make sure they are impressed with what they see.  A clean, easy-to-read design will leave them with a much better impression of your business.

If you have sales reps who use their phones to show your product, it is very important that your website looks good on a phone.  It can be very hard to make a sale if it is very hard to show your product.

So Google implementing these new rules can actually be a very good thing, especially if you do not have a mobile friendly site.  This might just give you the motivation to create a mobile friendly site.  And with a new mobile friendly site you might start getting a lot of new business from people who primarily use their smartphones to surf the web.

Wednesday, January 21, 2015

Factoring and your Growing Business

Invoice Finance and Factoring is an ever more prevalent a part of US business practices for small and medium (SME) businesses, as they have found it increasingly difficult to access funds - for effective cash flow management and expansion - from traditional lenders, such as the large and medium sized banks, since 2008.

With the economy getting back on its feet from the deep blows of the recession, many businesses are also starting to see growth return and many  businesses are seeking to capitalize on this and gear up for growth in 2015 and beyond.

As many small to medium sized businesses find, there is often a gap in the cash flow position from accounts receivable to accounts payable, especially at times when you need it most, such as periods of high growth. The best position to be in is to have a facility in place so that when you need a cash flow injection then you know you have the ability to access working capital without the need to firstly find a suitable finance partner, then go through their checks and process to enable a facility to become active.

As the economy further revives going into 2015 many businesses will be looking to capitalize on opportunities for organic growth and the possibilities of achieving sales growth amongst their existing and new customers.

So if you are looking to secure the growth of your business with a strong cash flow position and a reliable invoice factoring partner then speak to us about what your best options are as we can certainly help your company grow.

Thursday, May 8, 2014

Recourse Vs. Non Recourse Factoring

How Recourse and Non Recourse Factoring Compare

If you plan on selling invoices it is important to know whether the funding proposal is for “recourse” or “non-recourse” factoring.  Here is an overview of both methods.http://theme6.factoringwebsites.com/wp-includes/js/tinymce/plugins/wordpress/img/trans.gif

A Look at Non-Recourse Factoring

Just like it sounds, there is no recourse for unpaid receivables against the client. The client selling invoices is not financially obligated to the factoring company in the event an approved and funded invoice is not paid by the customer.
To protect their investment, the factoring company will check the credit strength of account debtors. They will also want to handle the payment collection and accounts receivable management.
This does not remove the client from all possibility of needing to repay the invoice. The client is still responsible for resolving any disputes regarding the product or service itself. For example, if  the client delivers a product and that product is found faulty causing the customer to not pay, the client is still responsible to make good on the invoice.
Although non-recourse may be the more attractive method to the client, the factoring company will look closely at the credit worthiness of the paying customer or debtor and charge fees accordingly.

Now A Look At Recourse Factoring

With recourse factoring the company selling the invoices is guaranteeing the invoice will be paid in full.
If the customer or debtor does not pay the invoice, the selling company must make up the payment. This is usually accomplished by either lowering future funding by replacing the “bad” invoice with another “good” one. Any delinquent invoices are generally charged back to the business client after 120 days, depending on the terms of the agreement.
In addition to who “makes good” on any “bad” invoices, the client may receive better pricing if they are open to a recourse situation. Since  the factoring company isn't taking all the risk, they can offer more attractive advance rates and lower fees.

Your final choice will be for the method that best fits your situation.  There is no right or wrong, but if comparing factoring options side-by-side and you have the option of non-recourse for the same or similar terms – then non-recourse will likely be your preferred choice!

Friday, September 20, 2013

As the economy continues to recover...

As the economy continues to recover, American businesses have a unique opportunity to grow their businesses as a way of preparing for the future. One of the simplest ways of doing that is through accounts receivable factoring.
Accounts receivable factoring services, often called “invoice factoring services” are a useful method of small business financing that enables business owners to budget and plan better by creating consistent cash flow. The small business sells its invoices to the factoring company at a small discount. The factoring company, in return, pays the small business, usually within a couple of days. This means that instead of waiting 30 to 90 days for customers’ payments, the small business has its funds almost immediately.
Additionally, accounts receivable factoring enables small businesses to save money on their in-house accounts receivable work. Factoring companies provide not only funds, but also help collect on invoices and manage accounts receivable. The factoring company handles mailing out statements, which reduces printing, mailing, and personnel costs. As well, the factoring company provides access to advanced credit-screening tools to help small businesses decide how much credit to extend and to whom. This minimizes credit risk, again saving companies money.

The time and money small businesses save by using invoice factoring services are resources that can be put into growth opportunities. New equipment, staff training, marketing campaigns and other growth-oriented costs are easier to plan for and pay for when a company knows what its monthly budget will be, as it does with invoice factoring. The economy is improving. Will your small business be ready to meet the demand?

Wednesday, March 27, 2013

PO Financing

Besides factoring specific invoices (accounts receivable), there might be a need for some advance funding.  This is sometimes called Purchase Order financing.  For example your company might be working very hard to land a large order from a customer.  Let’s say your hard work pays off and you finally procure the order.  But now you have a problem.  You need to produce this large order and you need to purchase the goods to fulfill the order.  Your suppliers may not be willing to extend terms to your company for the purchase of the merchandise that you need to acquire in order to fulfill the order.  That’s when DSA Factors can come to the rescue.  Upon presentation of the purchase order, DSA Factors can lend your company enough money to cover either the full cost of the entire order or at least the portion of the cost of the merchandise that the supplier is demanding payment for.    Then once the merchandise is received and invoiced to the customer, DSA Factors will fund the value of the invoice to your customer and deduct the ‘advance’ that was already paid, and remit the balance of the funds to your company.