The invoice financing industry is one of the most rapidly growing industries you may not have heard of! Invoice financing is a process where businesses give away their due invoices to financers at a discounted rate in exchange for cash. Businesses get the cash and financers get the invoices. After the invoice credit period is due, the financers directly collect the money from the customers. This is a process used when businesses are in urgent need of cash.
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In addition to getting instant cash, this also puts the risk of bad-debt out of the business and to the financer. The Invoice Financing industry is worth almost 3 Trillion USD. However, considering the fact that there are multiple parties involved in this process, there is often confusion as well as malpractices and fraud. Invox Finance offers a blockchain based platform for invoice financing, which infuses transparency into the system, making it a simpler process for all the parties involved.
Blockchain technology is changing the world as we know it to be. The fact that it is a tamper-proof technique ensures that it can be used for business purposes without the risk of fraud! Let us take a closer look at how Invox Finance is helping change the way we know invoice financing to be.
How Does Invox Finance Help Bring Transparency to Invoice Financing
Invox Finance is a decentralized system which helps infuse transparency into an otherwise complex and complicated system of invoice financing. Considering the fact that it is a decentralized platform and there is no central authority, any changes or additions that need to be made to an invoice come after the approval of all the parties involved.
Moreover, considering the fact that it is a dynamic, public ledger, all the parties can see the changes which are being made in real-time. It also enables business owners to know if their creditors have paid them back in one glance.
Another interesting and perhaps the most important feature of the Invox Finance platform is that it allows individual investors to purchase invoices from businesses. The investors can choose to either buy the entire invoice or a section of it. These investors can buy multiple invoices or multiple chunks of invoices from different businesses. This diversification of invoices helps investors reduce their risk in case a creditor defaults.
Invox Token Sale and ICO: Get the Invox Tokens!
To start investing into business invoices using the Invox Finance platform, an investor needs to buy the yearly membership of the platform. This membership can only be bought using the Invox Tokens which can be acquired via the Invox Finance token sale. The Invox ICO allows interested investors to get hold of the Invox tokens at a discounted price. For more details on the Invox ICO and Token Sale, head over to https://invoxfinance.io