Friday, November 13, 2020

Inc Authority Review

Inc Authority is one of the most reliable and trusted names in the business formation industry. For 30+ years, they’ve helped form 148,000+ LLCs and corporations.

The company is best known for its low cost and simplicity. In fact, Inc Authority even offers free business formation services (more on this shortly).

Entrepreneurs across all 50 states have used Inc Authority as a one-stop shop for starting a business. In addition to the business formation plans, Inc Authority offers other services related to tax planning, retirement planning, bookkeeping, funding, business credit, and more.

If you’re looking for a cost-effective way to start an LLC or corporation without the hassle associated with filing paperwork on your own, Inc Authority has you covered.

Is Inc Authority right for you? This in-depth review will tell you everything you need to know about their services. From plans and pricing to real customer reviews, you’ll be able to make an informed decision as it pertains to your needs after reading this guide.

Ready to get started? Sign up for Inc Authority today!

Inc Authority Business Formation Services

As previously mentioned, Inc Authority has an extensive list of service offerings. But the company is best known for its business formation services, which will be the primary focus of this review.

Those services can be segmented into three main categories—LLC services, incorporation services, and registered agent services. We’ll cover each of these in greater detail below.

Inc Authority LLC Services

The LLC services by Inc Authority are the most popular offerings from this provider. They make it easy for anyone to start a new LLC online—for free.

Yes, you read that correctly. Inc Authority is one of the only business formation companies on the market offering truly free LLC services.

It’s really easy. Just select your state, enter some details about your business, and Inc Authority will handle the rest.

The first thing they’ll do is check the availability of your business name with the state. From there, they’ll prepare and file your LLC documents and submit those to the state as well. Inc Authority also provides tax planning consultation, business funding analysis, and exceptional customer support via phone or email.

Another top benefit of using Inc Authority for your LLC registration is the digital access to your LLC documents. Everything will be delivered to you electronically and is stored for easy access through an online client portal.

The free services don’t stop there. When you use Inc Authority to form your LLC, you’ll also get free registered agent services for one year.

One of the upsells you’ll see during the registration process for your free LLC is for an employer identification number (EIN).

Inc Authority charges $49 for this service. You could avoid the cost and get a free EIN directly from the IRS on your own. But it’s certainly more convenient to get one from Inc Authority and avoid the hassle. Other LLC services charge $75 or more for an EIN, so $49 isn’t too bad compared to alternatives.

Aside from the EIN, the only payments you have to make will be for the state filing fees. This amount varies from state to state.

An LLC operating agreement does not come with the free plan either. All banks require an operating agreement. This document will provide proof that you own the LLC, and it’s required to open a new account. Operating agreements also ensure that courts enforce your liability protections. It establishes the rules that govern how your profits are divided and how decisions are made at your LLC. Adding an operating agreement to your LLC plan is an additional $89.

Inc Authority also offers a legal document package. This contains ownership certificates and LLC seals. The package is crucial if you’re ever audited by the IRS or sued by a third party. The legal documents services add-on is offered for $99.

You’ll also have the option to add express processing to your order. This $49 fee moves your order to the front of the line. Inc Authority will immediately process the information and get it to your state on the same business day.

They continue to pile on the upsells for things like domain registration and success advisor services. Most of you can ignore these.

So, what do real customers have to say about the LLC Services from Inc Authority? Generally speaking, the company has an outstanding reputation. They have a 4.8/5-star rating on Trustpilot with over 4,300 reviews.

93% of customers gave Inc Authority an “excellent” rating on this platform.

Most of the reviews highlight a smooth process, great customer service, and general professionalism. Some of the unfavorable remarks point to the upsells. A few customers complained that Inc Authority charges high fees for things they could do on their own. But then again, that’s why you’re paying for a service.

Overall, Inc Authority legitimately offers free LLC registration. You’ll be hit with a handful of upsells along the way, but you could turn most of those down and handle them on your own.

Inc Authority Incorporation Services

You can also use Inc Authority to form a corporation. This includes both C Corporations and S Corporations. Just like the LLC Services, Inc Authority’s incorporation services are also free—you just pay the state fee.

Getting started is really easy. Just head to the Inc Authority website, choose your entity type, and select your state to proceed.

If you need some guidance choosing the right entity type for your corporation, Inc Authority has useful resources to help you decide which option is right for you.

Similar to the LLC services, here’s a quick overview of what you’ll get for free with Inc Authority’s incorporation services:

  • Business name check for your corporation
  • Preparation and filing of incorporation documents
  • S-Election document IRS form 2553
  • Free registered agent for one year
  • Digital copies and online access to incorporation documents
  • Expert support (phone and email)
  • Tax planning consultancy
  • Business funding analysis

Again, all of these services are 100% free. There’s no catch, and you’ll only have to pay the state filing fees.

With that said, Inc Authority does hit you with some upsells throughout the ordering process. The first one you’ll see is for an employer identification number (EIN). Inc Authority charges $49 for this. It’s something that you’ll need, so getting it now as you’re finalizing the order makes sense.

Inc Authority can also customize your corporate bylaws. This service costs $89. They offer a legal documents package as well. The package contains things like customized organizational meeting minutes, custom stock certificates, and an official incorporation seal. All of this costs an additional $99. You’ll also have the option to expedite the processing of your documents for $49.

The upsells continue with domain registration and success advisory services. These start at $19 and $27 respectively. You can skip these.

If you start combing through customer reviews, it becomes obvious that the LLC services are more popular than the incorporation services. But that definitely shouldn’t stop you from using Inc Authority to incorporate your company, as there are plenty of great reviews pertaining to these services.

I even found some reviews from business owners that originally used Inc Authority to start an LLC but plan to use them again to set up an S-Corp. These reviews say a lot about the company. The fact that people were so happy with their experience that they’re planning to use Inc Authority again truly speaks volumes about the services.

Again, you can use Inc Authority’s incorporation services to set up a C-Corp or S-Corp for free.

Will you be presented with some upsells along the way? Yes, but it’s not a big deal. Skip the ones you don’t need and just keep moving forward.

Inc Authority Registered Agent Services

The registered agent services from Inc Authority are popular as well.

As previously mentioned, if you form an LLC or incorporation through this service provider, you’ll get a free registered agent for one year.

As a registered agent for your business, Inc Authority will act as a responsible third party with a physical address in the same state as your company. They can receive official government documentation like tax forms or lawsuit notices on your behalf.

You could technically be your own registered agent, but we advise against that.

The registered agent will always be available during business hours to accept statutory notice on behalf of your company.

After searching through dozens of reviews from real customers, I really couldn’t find many that specifically mentioned the registered agent services. Though many customers do mention the great service and support, so we can assume that some of those are also referring to the registered agents.

It’s also worth noting that there weren’t any bad reviews about the registered agents, either. If someone had a poor experience with these services, I’m sure they’d be easy to find online.

Based on the lack of reviews, I think it’s safe to say customers have a positive or at least neutral sentiment here.

As for the registered agent pricing, there’s no exact information on those rates beyond the first free year. I reached out to a customer service representative via live chat on the Inc Authority website for a quote. While the agent responded within 30 seconds, they were unable to give me an exact number. I was told that the “registered agent pricing varies depending on the state and business type.”

The only way to get an exact quote is by speaking with an agent over the phone regarding your unique situation. This is a little bit of a hassle, considering other sites are more transparent with the registered agent costs. But when you’re using a free service, you can’t expect everything to be perfect.

Overall Pricing and Value

Inc Authority’s business formation services are 100% free. Whether you’re starting an LLC, C-Corp, or S-Corp, those free services include:

  • Business name check
  • Entity formation document preparation and filing
  • IRS form 2553
  • Registered agent services for one year
  • Digital document delivery and storage
  • Phone and email support
  • Tax planning consultancy
  • Business funding analysis

As you go through the order process, you’ll be presented with several different upsells:

  • Employer identification number (EIN) — $49
  • Operating agreement — $89
  • Corporate bylaws — $89
  • Legal documents package — $99
  • Express processing — $49
  • Domain registration — $19
  • INC success advisor — $197 per year or $27 per month

Depending on the add-ons you need, you’ll likely end up paying more than $0.

However, these add-ons are not a requirement. You can handle these on your own if you truly want to start your business for free. The only fee you’re actually required to pay is the state filing fee. This number varies from state to state.

If you’re interested in lots of add-ons, you might want to consider one of the Inc Authority premium startup bundles. In some cases, it’s cheaper to get a bundle instead of adding on each service individually.

Starter — $399 + state filing fees

  • Verify name availability
  • Custom state filing
  • Operating agreement
  • Bylaws
  • Record book and company seal
  • Meeting minutes and resolution
  • Ownership certificates
  • Tax ID (EIN)
  • Business credit and funding analysis
  • Tax consultation
  • One year of INC success advisory services

Executive — $499 + state filing fees

  • All Starter services
  • Business license report
  • Website domain

Tycoon — $799 + state filing fee

  • All Executive services
  • Express processing
  • BizCredit express
  • Business credit coach
  • Multi-tiered credit building system
  • Business credit LaunchPad
  • D&B credit bureau registration

The Starter package is really all you need if you’re just looking to start a business. The other two options go above and beyond what you likely need, though it does depend on your specific situation, business, and needs.

In terms of value, Inc Authority’s free plan is more than enough for most businesses. You’ll likely add on at least a couple of the upsells (because it’s easier than doing it yourself). But you probably won’t find a better deal on the web from a business formation service that will actually let you check out for free (except for state fees).

User Experience

The user experience with Inc Authority is seamless. I went through the process a few times with different entity types to get a feel for it, and it really only takes 2-3 minutes from start to finish.

Everything is very straightforward, and you can figure it out even if you don’t have any experience using a business formation service.

The only potential gripe that users might have is that they’re presented with so many upsells throughout the order process. But those few extra clicks are a small inconvenience to avoid paying anything at all.

Compared to other business formation services we’ve reviewed, Inc Authority might have the simplest user experience of them all. The layout and dashboard are really clean, and it almost feels too easy.

Customer Support

Inc Authority has rave reviews about its customer support staff. Some of the recent reviews even highlight the names of specific support agents.


It’s always great to see favorable reviews like this. It shows that real customers had genuinely good experiences using Inc Authority.

When you sign up for Inc Authority, you’ll get unlimited phone and email support.

Personally, I reached out to a customer support rep via live chat with a question about pricing. I was pleased that the agent responded almost immediately. It was also refreshing to know that I was chatting with a real human and not a chatbot.

While I didn’t quite get the answer I was looking for from the agent I chatted with, they quickly put me in contact with someone who could answer my questions in greater detail over the phone.

Final Verdict

Do we recommend Inc Authority? Absolutely.

It’s one of the only truly free business formation services on the web—with no strings attached. You can use them to form an LLC, S-Corp, or C-Corp for $0 (just paying your state filing fees).

With that said, I’d recommend adding a few extras to your plan. At the very least, get an EIN from Inc Authority. It’s easier than dealing with the IRS directly to save a few bucks.

Between the LLC services, incorporation services, and registered agent services, Inc Authority has everything to accommodate the needs of your startup.



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Thursday, November 12, 2020

Best CRM Software

Want to jump straight to the answer? The best CRM software for most people is HubSpot or Salesforce.

A good customer relationship management (CRM) software focuses on the one thing that makes a great business: the customer.

To take your business to the next level, you need the best CRM software for you.

Finding the right CRM platform for your business can be difficult if you don’t know what to look for. That’s what inspired me to create this guide.

I’ve looked into dozens of CRM software out there. Below, I’ve distilled them down to the 7 very best ones and tell you exactly why they are.

  • 100% Free CRM software
  • Contact & task management
  • Email tracking & scheduling
  • Document sharing & live chat
Get it for Free

The 7 Best CRM Software Solutions of 2020

After researching and testing dozens of different CRM software, I’ve determined that these are the top seven options on the market today:

We’ll take a closer look at the features, benefits, and pricing of each software in the reviews below. Use this guide to help you find the best CRM software for your business.

Best CRM Software Reviews

HubSpot

  • 100% Free CRM software
  • Contact & task management
  • Email tracking & scheduling
  • Document sharing & live chat
Get it for Free

HubSpot is another well-recognized name in the business world. Their blog is one of the best resources for content related to sales, marketing, and services.

HubSpot is unique because they offer free CRM software. They also have CRM for multiple roles within an organization, like:

  • CRM for sales leaders
  • CRM for salespeople
  • CRM for business owners
  • CRM for operations managers
  • CRM for customer service representatives
  • CRM for marketers

Some CRM providers offer a free trial or free plan with basic features. But HubSpot’s goes above and beyond what you’d normally get for free.

These are some of the top features for the free sales CRM:

  • Contact management
  • Deal management
  • Task management
  • Email tracking and notifications
  • Email templates and scheduling
  • Document sharing
  • Meeting scheduling
  • Email integration (Gmail and Outlook)
  • Live chat

As for the paid software, prices vary based on the type of CRM you’re looking for and the number of contacts you have.

The Marketing CRM, Sales CRM, and Service CRM all have plans starting at $50 per month. Enterprise plans for Service and Sales start at $1,200 per month, and the Marketing Enterprise begins at $3,200 per month.

In my opinion, the paid options are well worth the price. They come with better, more robust features to help you manage your relationships with prospects and your current client roster to great effect. Your ROI on this CRM software is hard to beat.

For those of you who want CRM solutions for multiple departments and uses, you can buy a bundle from HubSpot as well. Growth Suites (include Sales, Marketing, Service) starts at $112.50 per month.

You can also create your own bundle based on the specific tools that you’re looking for.

Zoho CRM

  • Plans start at $18/month
  • Convert more leads
  • Engage with customers
  • Custom reporting dashboards
Try it for Free

Zoho is a global leader in business SaaS. More than 50 million users across the world use their solutions—and for good reason.

Zoho CRM is arguably one of the best solution offered by this provider. It’s used by 150,000+ businesses in 180+ countries.

You can use Zoho CRM to convert leads, engage with customers, and grow your company’s revenue.

Zoho’s entire suite of products are very top notch. In fact, Zoho Books made our list of the best business accounting software, and Zoho Inventory is on our list of the best inventory management software.

Big brands like Bose, Netflix, Amazon, Ducati, and Suzuki all use Zoho CRM for customer relationship management.

Here’s a brief overview of the plans and pricing for Zoho CRM:

Standard — $18 per user per month

  • Scoring rules
  • Email insights
  • Workflow conversion
  • Web forms
  • Unique and custom fields
  • Custom reporting and customized dashboards
  • Groups and tagging
  • 100,000 records

Professional — $30 per user per month

  • Real-time notifications
  • Process management
  • Email integration across multiple devices
  • Web-to-case forms
  • Inventory management
  • Google Ads integration
  • Validation rules
  • 2.5 million records

Enterprise — $45 per user per month

  • On-demand sales analytics
  • Pipeline view for emails
  • Customize your visual CRM record display
  • Built-in analytics
  • Multi-user portals
  • Custom buttons and modules
  • Mobile SDK and app
  • Territory management
  • 5 million records

All of the prices are for month-to-month plans. You can save 20% with an annual contract.

Zoho offers an Ultimate plan that’s only available yearly. It has features like advanced customization, enhanced storage, email sentiment, and automation suggestions. But you’ll need to contact the Zoho sales team for a custom quote.

Additionally, there’s a free version of Zoho CRM—although it’s extremely limited and only realistic for a small home-based business.

Salesforce

  • Plans start at $25/month
  • Productivity tools
  • Advisory services
  • Detailed analytics
Try it for Free

Salesforce CRM is one of the most popular customer relationship management solutions on the market today.

In fact, more than 150,000 businesses rely on them for their customer relationship solutions.

Salesforce has an extensive suite of CRM products for you to choose from. They offer solutions based on business type, role, need, and industry. Examples include:

  • Small business
  • Service
  • Sales
  • Sales and service
  • Marketing
  • Commerce

It’s one of the most extensive CRM product offerings that you’ll find on the market today. They even offer advisory services, success plans, productivity tools, integrations, and detailed analytics.

For the purpose of this review, I’m going to focus on the Sales CRM from Salesforce. In my opinion, this is the best one that they offer. Here’s an overview of the Sales plans:

Essentials — $25 per user per month

  • All-in-one sales and support
  • Account management
  • Lead management
  • Contact management
  • Opportunity management
  • Email integration
  • Salesforce mobile app

Professional — $75 per user per month

  • All Essentials features
  • Best for teams of all sizes
  • Lead registration
  • Lead scoring
  • Collaborative forecasting

Enterprise — $150 per user per month

  • Customizable CRM
  • All Professional features
  • Workflow automation
  • Approval automation

Unlimited — $300 per user per month

  • Best power and support of all plans
  • For large businesses
  • All Enterprise features
  • 24/7 support and configuration services

Even the Essentials and Professional plans will be more than enough for most businesses. You can try Salesforce for free with a 30-day trial.

Freshsales

  • Plans start at $19/month
  • Visual sales pipeline
  • Lead and deal management
  • SMS integration
Try it for Free

Freshsales is a CRM software that’s tailor-made for sales teams.

Used by more than 15,000 businesses (including Best Western and Dyson), they help your team find and manage all your sales leads.  You’ll be able to have relevant conversations with prospects and improve your sales pipeline.

Here’s a closer look at their plans and features that come with them:

Blossom — $19 per month per user ($12 with annual contract)

  • Lead, account, contact, and deal management
  • Visual sales pipeline
  • Lead scoring
  • SMS integration
  • Access to marketplace apps
  • API access

Garden — $35 per month per user ($25 with annual contract)

  • 1,000 free contacts
  • 250 bulk emails per user per day
  • 5 sales sequences per user
  • 10 teams
  • 10 workflow automations
  • Lead assignments and territories
  • Advanced reports

Estate — $65 per month per user ($49 with annual contract)

  • Advanced CRM customization
  • Auto profile enrichment (with social media information)
  • Reporting dashboard
  • Event tracking
  • Multi-currency support
  • Sales goals

Forest — $79 per month (billed annually)

  • EEA data center
  • IP whitelisting
  • Audit logs
  • Dedicated account manager

You can try out any of these plans for free with a 21-day trial. Freshsales also has a free forever startup plan with basic features.

I like Freshsales because it’s affordable and perfect for a growing sales team. You can easily upgrade to a higher tier as your company grows.

Insightly

  • Plans start at $29/month
  • Send, track, & manage emails
  • Workflow automation
  • Customize dashboards
Get started now

More than 25,000 companies use Insightly for CRM software. This includes big names like Bosch, AT&T, and Bloomberg.

Insightly is a bit unique compared to some of the other options we’ve reviewed so far. In addition to sales and marketing, Insightly CRM puts a strong focus on project management. You’ll get all of these feature sets in a single solution.

Some of the benefits of Insightly CRM include:

  • Dataset management
  • Create and deploy custom apps
  • Customize dashboards for metric tracking
  • Lead routing
  • Workflow automation
  • Send, track, and manage emails
  • Relationship linking

Insightly has an exceptional mobile app that allows you to work from anywhere. You can scan business cards, update your tasks in real-time, and create new opportunities on-site at a client’s location.

Popular tools like G Suite, Gmail, QuickBooks, Google Drive, Mail Chimp, Slack, and Dropbox all integrate with Insightly.

All Insightly CRM plans are billed on an annual basis. Here’s a look at those rates:

  • Plus — $29 per user per month
  • Professional — $49 per user per month
  • Enterprise —  $99 per user per month

You can request a demo and try it out for free. Insightly has a free forever plan with basic features for two users.

Apptivo

  • Plans start at $0/month
  • Premium plans start at $10/mo
  • Integrates with other tools
  • Multiple apps in one
Get started now

Apptivo is another top choice for CRM software. It’s used by 200,000+ organizations in roughly 200 countries. The Apptivo CRM is unique because it combines multiple apps into a single solution.

In addition to CRM, Apptivo also offers:

  • Online invoicing
  • Web help desk
  • Project management
  • Expense reports
  • Field service tools
  • Email marketing
  • Procurement for supply chain management

So for those of you who are in the market for these additional services, you can manage everything in the same place with Apptivo CRM. This is much simpler than juggling multiple apps for different uses.

The CRM apps for Apptivo fall into the following categories:

  • Contracts
  • Sales planning
  • Territory management
  • Competitors
  • Work orders
  • Customers
  • Contacts
  • Opportunities
  • Cases
  • Leads

Apptivo integrates tools like Slack, Office 365, G Suite, and more.

Here’s a brief overview of the plans and prices for Apptivo CRM:

Starter — $0

  • Up to 3 users
  • 500 MB
  • Basic contact sharing
  • Standard reports
  • Standard support

Premium — $10 per month per user ($8 with annual contract)

  • 3 GB per user
  • 1,000 mass emails per user
  • 2,000 API calls
  • Standard support

Ultimate — $25 per month ($20 with annual contract)

  • 10 GB per user
  • 3,000 emails per user
  • 20,000 API calls
  • Priority support

Enterprise — Custom pricing

  • 5,000 emails per user
  • White labeling
  • Custom integrations
  • SLA support and dedicated account manager

You can save 20% if you sign up for yearly billing instead of month-to-month.

Apptivo is commonly used for businesses in real estate, travel and hospitality, retail, wholesale, manufacturing, utilities, and energy industries.

Pipedrive

  • Plans start at $17/month
  • Lead & deal management
  • Communication tracking
  • Deep insights and reports
Get started now

Pipedrive CRM is designed to simplify your sales process.

More than 90,000 businesses use Pipedrive CRM. It’s a straightforward platform that’s easy for anyone to figure out.

This CRM was created to generate more leads and sort your sales in a single location. It helps eliminate administrative tasks that are unproductive. It’s designed to drive more sales with less legwork on your end.

Some of the top features and benefits of Pipedrive CRM include:

  • Lead management
  • Deal management
  • Communication tracking
  • Automation
  • Deep insights and reports
  • Privacy and security for business data
  • Mobile app access
  • 150+ third-party integrations

More than $24 billion in sales have been closed using Pipedrive. On average, businesses increase their close rate by 28% after the first year using this CRM.

These are the plans and prices for Pipedrive CRM:

Essential — $17 per month per user ($12.50 with annual contract)

  • Custom pipelines
  • Custom fields
  • AI sales assistance
  • User and company goal setting
  • Custom dashboard

Advanced — $31 per month per user ($24.90 with annual contract)

  • Sales task automation
  • Email integration
  • Email templates and email automation
  • Products catalog

Professional — $59 per month per user ($49.50 with annual contract)

  • Call tracking
  • Click-to-call
  • Unlimited meeting scheduling
  • Batch emails
  • Team management
  • Multi-dashboard support
  • Revenue forecasts
  • Custom user and admin permissions

Essential — $99 per month per user (billed annually)

  • Minimum 10 users
  • Dedicated account manager
  • Phone support
  • Data import
  • Enhanced security
  • Additional user permissions for full control

Pipedrive also has a “Leadbooster” add-on for $39 per month ($32.50 with annual contract). This tool is billed per company, not per user. It’s designed to turn more web visitors into leads. Leadbooster is basically a chatbot. It engages with customers with instant responses and makes it easy for them to schedule a meeting.

Try Pipedrive CRM free with a 14-day trial.

What is CRM software?

CRM stands for “customer relationship management.” It’s a system that lets you manage all your organization’s interactions with your customers.

Typically, CRM refers to specific software that accomplishes this for you. A good CRM software improves sales log communication, lead management, and even helps with marketing campaigns.

At the end of the day, though, it’s there to improve your relationship with your customers. Doing so can help retain the ones you have while drawing new customers in.

Why you need CRM

Your customers are the most crucial lever for success. Plain and simple. CRM software gives everybody in your company an opportunity to improve the relationship with your customer through tools such as:

  • Sales reporting
  • Customer information
  • Segmentation
  • Lead reporting
  • Marketing analysis
  • Customer service

Historically, CRM software was only used by large businesses and enterprises. But today, CRM has evolved to fit the needs of all organizations, regardless of size or industry.

That means that you should invest in a CRM software—even if your company is small.

How to Choose the CRM Software For Your Business

CRM software can be a complicated subject. With so many options to choose from, finding the best solution for your business might be overwhelming.

This is the methodology that we recommend here at Quick Sprout to help narrow your search. I’ll explain each element in greater detail so you can make a decision based on your needs.

Compare Quotes From The Best CRM Software

Get matched up with the CRM software that fits your specific needs.

>> Compare Quotes

Team Size

The size of your business and team will have a significant impact on the CRM you choose. Some solutions are better for small businesses, while other options specialize in enterprise software.

You can even find CRM tools for small teams of just one or two people.

Capabilities

Customer relationship management software is so diverse. It’s such a broad term, and it’s used across multiple departments and for various reasons.

Common CRM categories include:

  • Sales
  • Marketing
  • Project management

There are even other solutions for things like customer service. Some companies offer all CRM capabilities into a single platform. Others specialize in one category over another.

There are CRM solutions offered as an all-in-one solution. But other times, you’ll have to buy the software separately or bundle it into a single package.

Integrations

You should look for CRM software that integrates with popular tools that you’re already using. This will allow you and your team to manage everything from a single dashboard.

If you constantly have to bounce back and forth between multiple platforms to manage your leads and customers, it defeats the purpose of using CRM to streamline your process.

Price

As always, price will be a significant factor in which CRM you choose.

In most cases, pricing is based on the number of users you have. Depending on the platform, pricing can also be based on the number of contacts or storage you’ll need as well.

Make sure to find something in your price range. The pricing for CRM software ranges from $0 to $300+ per user.

Conclusion

What’s the best CRM software? The answer varies depending on your business type and what you’re looking for. Here’s a quick recap of the top seven options on our list:

From startups to enterprises, and sales to marketing and project management, I’m confident that you can find the best CRM software for your company on this list.

Compare Quotes From The Best CRM Software

Get matched up with the CRM software that fits your specific needs.

>> Compare Quotes


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Best Invoice Factoring Companies

Want to jump straight to the answer? The best invoice factoring company for most people is definitely BlueVine.

Unpaid invoices are part of running a business. It’s a frustrating and unfortunate reality for small business owners everywhere.

You rely on them to pay your bills, purchase inventory, and fund all of the other operational costs of running a business. But if your business has unpaid invoices and you’re low on cash, you need to consider invoice factoring.

What is invoice factoring?

Invoice factoring happens when your business sells qualifying unpaid invoices to a factor for upfront cash. You’ll typically receive anywhere from 70% to 95% of the value while paying a factoring fee until the invoice is paid.

Note: It’s not the same as a traditional business loan or business credit line.

If you’re interested in getting instant cash for your unpaid receivables, this guide will help you find the best invoice factoring company for your business.

Compare Quotes From The Best Invoice Factoring Companies

Get matched up with an invoice factoring company that fits your needs.

>> Compare Quotes

The 7 Best Invoice Factoring Companies of 2020

Invoice factoring can be a confusing topic to most small business owners. And with so many different companies to choose from, finding the best option for your organization can feel a bit overwhelming.

Fortunately, I’ve already done all of the research for you.

I’ll give you an in-depth review of each company as we continue through this guide. This will help you find the best choice for your needs.

Best Invoice Factoring Companies Reviews

BlueVine

  • Factoring lines up to $5 million
  • Easy and flexible
  • No long-term contract
  • Apply quickly online
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BlueVine has delivered more than $6.5 billion in funds to 125,000+ customers. They’re one of the most popular and reputable invoice factoring companies out there.

They offer business lines of credit, business term loans, and of course—invoice factoring.

BlueVine offers factoring lines of up to $5 million. Factoring rates start at just 0.25% per week. The approval process is fast. For businesses that need cash right away, you can get approved in just 24 hours.

The funding process is easy and flexible. You’ll have the opportunity to get higher credit limits based on the strength of your customers. BlueVine’s fees are transparent, so you always know exactly how much the factoring will cost you. Instead of collecting recurring payments, they charge a weekly fee that’s due when the invoice gets paid.

bluevine

You’ll have full control over what invoices get sold—only fund what you need without committing to a long-term contract.

Here’s how the process works:

It takes less than ten minutes to apply online. You provide a few basic details about your business, then the application approval process takes up to 24 hours.

Once approved, simply submit any unpaid invoices by syncing your accounting software or uploading them to your BlueVine dashboard.

BlueVine pays 85-90% of the cash instantly. You’ll get the rest of the money, less the BlueVine fee, once the invoice gets paid.

These are the minimum qualifications to get started with invoice factoring from BlueVine:

  • Must be in business for at least 3+ months
  • Your business generates $10,000 in monthly revenue
  • You have a B2B company (invoices from traditional consumers aren’t eligible)
  • Personal FICO score of 530+

You’ll also need to provide BlueVine some basic details about your invoices and show three months of recent bank statements. Get started now.

Paragon Financial

  • Non-recourse invoice factoring
  • Purchase order financing
  • In business 25+ years
  • Great option for startups
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Paragon Financial is a non-recourse invoice factoring company. So you can get funded without assuming the liability for unpaid invoices.

This institution is a bit smaller compared to some of the other companies on our list. They’ve been around for more than 25 years but only worked with 2,200+ businesses. With that said, they’ve funded more than $2 billion during that time.

It’s a great option for startups, entrepreneurs, and businesses with tax issues. They typically work with lots of government contractors.

To qualify for invoice factoring with Paragon Financial, you’ll need a minimum of $30,000 in monthly sales. This is a bit higher compared to other options that we’ve reviewed.

However, your personal credit won’t impact any approvals. Since Paragon assumes the risk, they make decisions based on the credit of your clients.

In addition to invoice factoring, Paragon Financial also offers purchase order financing and working capital for government contracting.

altLINE

  • Serving businesses 80+ years
  • Direct source of funding
  • Federally regulated bank
  • 100% transparent

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altLINE has provided invoice factoring solutions for more than 80 years.

During that time, they’ve provided $424 million in funded invoices.

They’re especially unique because they’re a direct source of funding. They’re not a middle man. altLINE a division of the Southern Bank Company. So they don’t need to charge additional borrowing costs like third-party providers. Business owners can benefit from these savings.

In addition to invoice factoring, altLINE offers accounts receivable financing. While the two terms are often used interchangeably in the world of small business lending, they are not the same.

Invoice factoring offers great flexibility for business owners. Accounts receivable financing has stricter guidelines related to the credit profile. With that said, AR financing will usually provide businesses with preferred financing terms.

altLINE will deliver up to 90% of qualified unpaid invoices for factoring. Common industries for invoice factoring with altLINE include:

  • Distribution
  • Consulting
  • Food and beverage
  • Janitorial services
  • Professional services
  • Facility services
  • Textile and apparel
  • Wholesale
  • Oil and gas
  • Staffing
  • Manufacturing

As a federally regulated bank, altLINE is 100% transparent about their fees and term structures. Factoring rates start at just 0.50%. You’ll also benefit from a fast approval process without an application fee.

In addition to invoice factoring and accounts receivable financing, altLINE also has asset-based lending for businesses. This is another way to borrow money against your receivables.

Triumph Business Capital

  • Member of Triumph Bancorp
  • Wide range of services
  • Easy to use web portal
  • Direct access to support

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The domain name for Triumph Business Capital is invoicefactoring.com. With a name like that, you better be a top invoice factoring company—and that’s exactly what they are.

This company has helped 7,000+ small and mid-sized businesses with working capital needs. They offer invoice factoring services for the following industries:

  • Trucking
  • Staffing
  • Oil and gas
  • Government contractors
  • Freight brokers

I like Triumph Business Capital because of their easy to use web portal. The dashboard and process is a simple way to manage your funding. You can always stay up to date with your account and information, no matter where you are.

You’ll also have direct access to support from the Triumph Business Capital team. They also offer a wide range of financial services along with invoice factoring:

  • Asset management
  • Commuting banking
  • Asset-based lending
  • Equipment financing
  • Insurance

Think of it as your financial one stop shop.

Breakout Capital

  • Unique invoice factoring service
  • Customized solutions
  • Easy approval process
  • Great option for startups

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Breakout Capital offer a great invoice factoring service called “FactorAdvantage.” It’s a customized solution for businesses that don’t meet qualifications from other lenders and factoring companies.

Think of it as a combination between invoice factoring and a small business loan. Here are some of the top advantages of this service:

  • Fund receivables before invoices are ready to factor
  • Increase your over-advance maximum amounts
  • Access to short-term bridge loans
  • Remove merchant cash advance programs or liens
  • Forecast cash flow with AI technology

Breakout Capital is a great option for startups because they don’t have a strict approval process. There’s no minimum FICO score required, no minimum monthly revenue requirement, and no minimum time in business.

With all of that said, Breakout Capital’s invoice factoring rates are a bit higher than some of the other companies we’ve reviewed. Invoice factoring starts at 1.25% per month.

For startups that want to borrow up to $500,000 using unpaid invoices, Breakout Capital is a top company for you to consider. FactorAdvantage is unlike any other product I’ve seen on the market today.

TCI Business Capital

  • Fast approvals
  • Simple onboarding
  • Month-to-month terms
  • Same-day funding

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TCI Capital has been serving businesses for more than 20 years. They offer monthly funding lines from $50,000 to $10 million with invoice factoring.

B2B organizations that use TCI Capital for invoice factoring typically fall into one of the following categories:

  • Staffing
  • Telecom and wireless
  • Heavy construction
  • Renewable energy
  • Government contractors
  • Utility and pipeline contractors
  • Trucking and freight
  • Manufacturing
  • Environmental services
  • Oilfield services

TCI Capital adds a personal touch to their invoice factoring services. They encourage you to talk to a representative that will help you find the best solution for your current situation and needs. TCI Capital also ensures that the solution works well for your customers.

Like most companies, TCI Capital’s factoring fees are based on volume. So it’s a better option for those of you with higher volumes if you want access to preferred rates and fees.

The TCI Capital website has an awesome tool to help you calculate your factoring costs. Choose your desired advance rate of 70%, 80%, or 90%, and enter your average monthly sales.

Select your customer payment terms (net 30, 60, 90, or 120), and the tool will automatically calculate your fees.

For example, let’s say you average $10,000 per month with net 60 terms on your invoices. If you want 90% of cash in advance, the factoring fee is $200.

With TCI Capital, you’ll get fast approvals, simple onboarding, and month-to-month terms. They offer high advances and same-day funding to provide you with reliable cash flow.

Riviera Finance

  • Guaranteed 24-hour funding
  • Credit management services
  • Online account dashboard
  • Funding on demand

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Riviera Finance has been providing financial services to businesses since 1969. With more than 50 years of experience, this company is a top solution for invoice factoring.

Riviera Finance is great for any business that needs cash quickly They offer some of the quickest turnaround rates in the industry, with guaranteed 24-hour funding.

Riviera Finance is a non-recourse invoice factoring service. They also offer credit services and receivables management in addition to financing, all within the umbrella of invoice factoring.

Depending on your business type, industry, and clients, Riviera Finance will fund up to 95% of qualified invoices. You’ll have complete flexibility for funding on-demand.

Arguably the biggest standout of Riviera Finance is its credit management services. They guarantee the credit on all of your factored invoices. If an invoice is unpaid, Riviera Finance becomes the credit manager and assumes the risk.

As a result, no debt it created on your end, and the company protects you from bad debt on all of the invoices that they factor.

Riviera Finance has an exceptional receivable management system as well. They handle to the following tasks:

  • Maintain an efficient process with your clients
  • Automated invoice uploads
  • Mailing and processing for all invoices
  • Processing and posting of invoice payments
  • Real-time alerts related to returns, disputes, or payment issues
  • Check the status of outstanding invoices
  • Custom management reports

You’ll benefit from instant access 24/7 to all of your account receivable information through an online account dashboard.

How to Choose the Best Invoice Factoring Company For Your Business

Invoice factoring can be complicated. It’s important that you find the right invoice factoring company to meet the needs of your business. You need to find one that services your company’s specific goals.

There are certain factors that you should look for when you’re evaluating an invoice factoring service. This is our methodology for narrowing down your options.

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Recourse

What happens if one of your customers fails to pay an invoice to the factoring company? Depending on the company you choose, you could be responsible for this debt.

Recourse factoring typically offers lower fees. But this comes with higher risk.

Non-recourse invoice factoring means that the factor assumes the liability if the invoice goes unpaid. This is a better option for businesses who can’t risk a client withholding payment.

Flexibility

Some of you may only want to factor one or two invoices. Doing this on-demand is known as “spot factoring.” You’ll have complete control over which invoices are factored and when it happens.

Some invoice factoring companies require “whole ledger factoring.” In this case, you won’t have as much control. Generally speaking, spot factoring is the preferred choice for business owners.

Factoring Fees

Lots of business owners see the short-term benefits of invoice factoring—upfront cash. But they overlook the fees that this will cost.

Some invoice factoring companies lure you in with low factoring fees, but then hit you with additional fees like:

  • Application fee
  • Service fee
  • Renewals
  • Transfers
  • Early termination
  • Origination fee

I’d recommend an invoice factoring company that offers transparent pricing. You should only have to pay the factoring fee, without any of these additional charges or hidden fees.

Funding Time

How soon do you need cash?

For those of you who need funds quickly, look for an invoice factoring company with fast turnaround times. There are companies out there that will fund your business within 24 hours of submitting a qualified invoice.

Conclusion

Invoice factoring is generally reserved for B2B organizations. But there are still plenty of different niches and unique circumstances within that category. This list has an option for everyone.

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