John Hawthorn is president of Phoenix Telecommunications. Phoenix provides 3 out of the 5 major cellular providers with base station maintenance and hardware system upgrades. "For the past 24 months, we've been fully engaged in E-911 upgrades. Everything we do is extremely time sensitive from material deliveries, crew deployment and testing. The last thing I need is inconsistent cash flow".
John approached Gateway after falling behind in payroll tax liabilities and nearly losing two-thirds of his employees. Gateway worked with John and his IRS revenue officer to structure an amicable installment agreement while ensuring timely and reliable payroll for his employees. "Thankfully, when I picked up the phone, Gateway understood my dire situation and took the necessary time to listen. Something I can truly appreciate"!
Telecommunications maintenance is something that is easy for consumers to take for granted, but not for telecommunications contractors. When it comes to keeping cellular towers running, it takes a team of highly trained specialists who are available around the clock. As you can imagine, that kind of support can run up a pretty expensive payroll bill. After a while, even a company involved in the lucrative telecommunications industry can find itself overwhelmed with financial issues that seem to be happening at the speed of light.
A good cell tower contractor factoring company is one that has years of experience in helping companies that employ highly-paid specialists and also understands the specific challenges of the telecommunications industry. When it comes to payroll, there are a series of costs to consider that can add up. Benefits, payroll taxes, and overtime pay can put a crimp on any company's cash flow. When that cash flow is being overwhelmed by the company's growing need for operational cash, then that is when a reliable solution needs to be put into place.
When a company's need for cash outpaces its cash flow, bank lending is often not an option for many reasons. For one thing, banks can take a long time to approve a loan application and that is not time that the cell tower company has to waste. Another issue is the possibility that the bank will approve the application, but not for the amount the company needs. That leaves the telecommunications company literally a day late and a dollar short.
At some point, a company that is financially overwhelmed is going to run into issues with its credit and taxes. Once a telecommunications contractor has that additional burden of bad credit and potential tax liens placed on its shoulders, the thought of help from a bank becomes something that is just not realistic.
If you want a cash flow solution that will keep pace with your company's funding needs, then you need to get involved with cell tower company factoring. An invoice factoring company will utilize your flow of invoiced sales to create a reliable source of funding that you can use to keep your crews paid and take care of your tax and credit issues.
The best part about invoice factoring is that your available funding grows as your invoiced sales grow. When a telecommunications contractor gets overwhelmed by the financial requirements of a fast-paced upgrade project, it needs a funding source that moves in concert with its growing financial needs. An invoice factoring company will use the increase in invoiced sales to provide a steadily growing source of funding that grows along with the company's needs.
When your financial needs are outpacing your resources, you need to take action immediately. Telecommunications contractors work in an industry that is constantly changing and ongoing maintenance is a challenge. But when you utilize the services of an invoice factoring company to meet your funding needs, you can stop worrying about how you will make payroll and start planning on ways to stay ahead of the maintenance needs of your clients.