Collection & Factoring
Over the years Omega has built a vast clientele of corporate clients. When assisting corporate clients we noticed many of them struggled with their accounts receivables, which some even turned to be bad debtors. For most companies keeping a well organized Accounts Receivables administration has proven to be challenging, however once the debtor becomes a bad debtor the company will have to go through a lengthy process to recover its funds. To most companies this is a time consuming activity which adds to more expenses for the company, some businesses even have a whole department set for this purpose only. Therefore Omega created a Collections Department to assist all our clients which are encountering this challenging situation. We have a professional staff to handle collections in an efficient and effective manner. Moreover, we have the knowledge and experience to go through any legal procedures to make sure our clients have as little financial loss as possible.
Currently, for most businesses in need of cash and with outstanding invoices (Accounts Receivables) the bank is the most common alternative to provide the cash needed to cover operational expenses while pending to receive the revenues. FACT: in order for a bank to agree to this much needed help they would like certain securities to be in place e.g. a mortgage on a property or guarantees. In case of Omega this is all not necessary. Once your company has been pre-approved we are able to guarantee cash within a few days. We do not request any additional securities and the amount that can be factored can be anything above AWG 5,000/ US$ 2,800. Important however is the quality and aging of the accounts receivables. Moreover with Omega you can decide which invoice you would like to factor or not.
Factoring is THE solution for most companies that have to deal with accounts receivables 30 / 60 / 90 days or more. This initiative is a much needed help towards the Aruban business community, therefore we would like to invite you to meet with us at your earliest convenience and we will make sure that your company’s cash flows in the right direction....
Omega is one of the official representatives for the factoring company Blue Factor. Blue factor is a factoring company which goal is to provide a new alternative for cash to Aruban’s business community.
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