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Like many things in business, this isn't a new idea. I clearly recall signing secrecy documents in order to take part in discussions with a bank in 1997 about how a new factoring model that would leverage the flexibility of the internet. It would transform trade credit. More opportunities emerged early into the new century but it wasn't until the last couple of years - 10 years after I first confronted reverse factoring, that I've seen it implemented as a real business tool. That why it's OK to call it new and now is an opportune time to look at it again.

Do You know Who I Am?

Have you ever had this experience - in a bank perhaps.  You have a query over a payment or a transaction on your credit card payment maybe – and you get treated like a mere mortal. Yet you have your mortgage, your pension savings, your investments – all with that bank – and they still talk to your like – well like any ordinary customer. You want to say “Do you know who I am?” but you don’t want to sound like celebrity throwing a tantrum. The fact is the voice in the call center doesn’t know who you are and probably doesn't really care.

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