Have you ever run out of cash flow in your small business and unable to meet your day to day expenses/commitment?
Have you heard of invoice financing? Or are you in a Invoice Financing Platform already?
Let me clear the air by providing a simple answer to these questions.
What is an Invoice/ Invoice Financing
An invoice, sometimes called a sales invoice, is a document sent by a provider of a product or service to the purchaser containing a list of goods sent or services provided, with a statement of the sum due for these. In other words, the invoice is a written verification of the agreement between the buyer and seller of the goods or services.
Invoice financing is a way for businesses to borrow money against the amounts due from customers.
Are you just getting to know of the term invoice financing or you are already aware of this, all well and good because I bring goodnews. As stated above invoicing financing is a form of short term borrowing which is extended by a lender to its business customers based on unpaid invoices. Through invoice factoring, a company sells its accounts receivable to improve its working capital, which would provide the business with immediate funds that can be used to pay for company expenses.
But there are some shortcoming/disadvantages of the Traditional Invoice Financing such as:
Let's look into an illustration.
Trent runs a small transport contracting business and offers delivery services to a national delivery chain. His business will usually be paid for its services between 30 to 90 days after an invoice for is issued. This means that on average, it may take 45 days for Trent to eventually get paid for each job. In the meantime, Trent continues to run his business and has obligations to pay his drivers (usually on a weekly basis), meet fuel costs, ongoing tax liabilities and other periodic expenses. Trent comes to an invoice financier to help with this problem as this allows him to obtain cash flow immediately. Generally current traditional invoice financing costs Trent 1 to 2% a week.
I hope you are getting along, here is the good news I bring. There is now a better and a revolutionary Invoice Financing Platform called INVOX FINANCING PLATFORM.
The Invox Finance Platform is a distributed peer-to-peer invoice lending platform that will allow sellers, buyers, investors and other service providers to connect, interact, share and distribute information.
This platform will facilitate an eco-system where trust between the parties is developed via an in-built reward system. The execution of transactions and flow of information are not dependent on one single centralised service provider, but are governed by a transparent set of rules executed on a fully distributed ledger.
They plan to disrupt and revolutionise the traditional invoice finance industry by implementing a global distributed peer-to-peer lending platform which completely eliminates the need for a traditional financier’s involvement by connecting businesses that wish to accelerate their cash-flow through selling their invoices (“sellers”), directly with investors¹ who wish to finance these invoices.
THE ADVANTAGES OF THE INVOX FINANCING PLATFORM
Distributed Platform
The Invox Finance Platform will allow sellers, buyers, investors and other service providers to
directly connect, interact, share and distribute
information in a trustless environment utilising a fully distributed ledger.
Direct Access to Investors
The Invox Finance Platform will provide sellers
direct access to individual investors. This new
distributed peer-to-peer lending environment will benefit both sellers and the investors.
Lower Rates for Sellers
Sellers will be able to obtain financing at lower
interest rates than normally received from a traditional financier.
A new way for Investors to Diversify
Each invoice loan is split into smaller fragments to allow many investors to invest into one invoice.This allows investors to buy into a unique investment product normally available to only banks and finance companies as well as reducing risks through diversification.
THE CORE COMPONENT OF THE PLATFORM
Dynamic Invoice Smart Contracts
This set of smart contracts will facilitate the creation and registration of dynamic invoices to promote authenticity and transparency to all parties involved - the buyer, seller, investor and other interested parties such as debtor insurers. It will also act as a safeguard against data manipulation by any one party.
Invoice Loans Smart Contracts
The loan smart contracts will also be deployed on the Ethereum mainnet. These contracts will enable the flow of funds between investors, sellers and buyers. They will also direct funds to a specific party (when certain smart contract conditions are met) and enable fragmentation of invoice loans to reduce risk to the investor. The invoice loan terms and conditions will be coded into the
smart contracts, providing all participants certainty that their terms and conditions will be enforced.
User Access and Processing Hub
The User Access and Processing Hub is where all parties will meet and interact with one
another. The Hub’s main purpose will be to allow investors, sellers, buyers and other interested parties to have a seamless and efficient way of communicating, exchanging information, and facilitating the initiation and execution of various smart contracts and processes.
Bank API Integration
By integrating with our banking partners’ APIs will allow small business owners to interact with their bank accounts through our platform. For example, this would allow a seller to obtain fiat directly to their bank account once a loan is obtained.
THE INVOX TOKENS
Invox Tokens will be created on a public ledger using the ERC-20 standard and will have the following utility;
– will provide access to the Invox Finance
Platform for the sellers. That is, each Seller
will be required to pay a certain amount of Invox Tokens on a yearly basis to gain access to the platform; and
– reward work performed for the platform. That is, the system will reward buyers and sellers with Invox Tokens for verification and payment of invoices.
Token and Fund Allocation Structure
THE ROADMAP
THE TEAM
THE ADVISORS
Check the rest of team through this link: https://invoxfinance.io/#team
PARTNERS
IN CONCLUSION
With the above research I have made about this project and to my understanding I believe this is a revolutionary invoice financing platform much to be gained. But I always advise DYOR(Dp Your Own Research ) will drop some links below which will help your research easier.
Website: https://invoxfinance.io
Whitepaper:https://invoxfinance.io/docs/Invox-Whitepaper.pdf
YouTube: https://www.youtube.com/channel/UCiN42NKpGFWcbmXx5qvbdcw/videos
Reddit: https://www.reddit.com/r/InvoxFinance/
Twitter: https://twitter.com/InvoxFinance
Facebook: https://www.facebook.com/Invox-Finance-162381191061327/
Telegram: https://t.me/InvoxFinanceCommunity
Authors Name: PhilMovs
Authors Bitcointalk username: PLMovs
Authors Bitcointalk Profile URL:https://bitcointalk.org/index.php?action=profile;u=2035939
