What is Invoice discounting?

I was wandering if someone could explain this to me, its what my dad does and he said I could get a job doing this when I’m 18 with out going to university by just mentioning I’m his daughter to an invoice discounting company and apparently they would hire me because of that.

So basically what is this and could I learn on the job and not go to university?

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2 Responses to “What is Invoice discounting?”

  1. Jabberwocky says:

    Invoice discounting is a bit like factoring but the company keeps control over its credit control. Basically, to help cashflow, a company will assign its debts to an invoice discouting provider. The provider will immediately provide them with a percentage of those debts up front (say 85%). This gives them cash straight away without having to wait for their debtors to pay up. Then, when the debts are paid to the company, the invoice discounter provides the other 15%. Of course, they make a charge for this facility.

    I don’t know what the requirements for the job would be but it’s probably like a lot of things where you are trained on the job so you start at the bottom and work your way up.

    But bear in mind, most facilities are provided by the banks so competition for jobs at the moment in banking sectors is pretty fierce and the banks are making cut backs. Whether your dad is important enough in the industry that the mere mention of his name at another provider would get you a job – only he would know that.

  2. mark m says:

    Invoice discounting is a form of short-term borrowing often used to improve company’s working capital and cash flow position.

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