Specifically, the domestic comprehensive factoring business of China Bank mainly includes the following aspects:
1. Accounts receivable management: China Bank provides accounts receivable management services, including invoice management, account tracking and debtor credit evaluation. These services can help enterprises better understand the credit status of customers and reduce the risk of collection.
2. Financing services: China Bank provides financing services for enterprises based on the accounts receivable of enterprises, helping enterprises to withdraw funds quickly and solve the problem of capital turnover. Factors (such as Bank of China) purchase the accounts receivable of enterprises, provide cash for enterprises, and collect money from customers when the accounts receivable are due.
3. Credit risk protection: China Bank provides credit risk protection, and once the debtor defaults, China Bank will bear the corresponding risks. This can help enterprises reduce credit risk and ensure business safety.
4. Business process optimization: China enterprises provide business process optimization suggestions to help enterprises improve financial management efficiency and reduce operating costs.
Generally speaking, BOC's domestic comprehensive factoring business is a comprehensive financial service that integrates the functions of accounts receivable management, financing and credit risk protection. This service can help small and medium-sized enterprises solve the problem of capital turnover, reduce credit risk and improve the level of financial management.