e-Factoring service is an extension to our existing invoice factoring service. e-Factoring facilitates the submission of invoices and supporting documents by eliminating the need to submit physical invoices and supporting documents to our office. With e-Factoring, you can simply upload e-Invoice/e-Tax Invoice along with other supporting documents to our e-Factoring platform.
How e-Factoring works?
- Seller delivers good/ render services to Buyer.
- Seller uploads e-Invoice/ e-Tax Invoice to the portal.
- Seller requests early payment through the portal.
- Funding instruction is sent to IFS.
- IFS provides cash advance of up to 90% of invoice value to Seller.
- Buyer makes payment to IFS on due date.
- IFS remits remaining amount less interest charge to Seller