Purchase Order and Invoice Verifications

I recently wrote about the importance of verifications in invoice factoring programs. Most purchase order financing programs have similar - if not more stringent - verification programs.

In factoring, the company needs to verify that the invoice is correct and will be paid. In purchase order financing, the company needs to verify that BOTH purchase orders AND invoices are correct and valid.

This means that the company has to verify that:

1. The purchase order is correct and final
2. The actual PO numbers
3. The PO contractual terms

And then (unless a factoring company handles the A/R part of the transaction), the company needs to verify:

1. That once the order is fulfilled and a valid invoice is created
2. That the invoice is accurate and payable

This is the main reason that most professionals say that purchase order financing is a "hands on" process. However, the other side of the coin is that po financing is very flexible and available to small and growing companies.

Are you looking for business financing in Kansas? Learn more about factoring in Kansas and invoice factoring in Kansas.