discounts

"Deal-of-the-Day": Prepare for the Unexpected to Turn your Group Buying Promotion a Success

"Deal-of-the-Day" promotions, such as those offered by Groupon, LivingSocial and others, are gaining momentum among small and mid-sized businesses. It's not unrealistic for them to see hundreds or even thousands of individuals taking advantage of their deal. And this immediate blast of new customers, products and services purchased is what appeal to businesses. In just a few minutes or hours, they can boost profits and get the word out on their business and its offerings. 

Besides, the process looks relatively simple. All is done for you, because the deal-of-the-day providers usually handle most of the things involved in the process: distributing the deals to subscribers, managing and processing the purchases, and providing the appropriate coupons for customers to redeem.

How Factoring Services Can Help You Take Advantage of Discounts

In many industries, an important cash flow strategy is to take advantage of what are often referred to as early pay discounts, or “2/10, net-30 discounts.” Such discounts allow companies to subtract 2 percent (and sometimes more) from the invoice amount if it is paid within 10 days instead of the normal 30.

These discounts can really add up, especially for companies with thin profit margins. The challenge for many companies, however, is managing their cash flow system in a way that enables them to take advantage of these discounts on a regular basis.

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