Invox Finance is a company which is all set to improve transparency in the 2.8 Trillion Invoice Financing industry. When it comes to business operations, invoice financing is one of the most common functions these days. Popular in the US and Europe, Invoice financing is also finding a market in Australia and some Asian nations these days. It is basically a process used when businesses are in an urgent need of cash.
Invoice financing involves a business selling off their business invoices for a discounted price in exchange for quick funds. Basically, invoices are proof of money which is supposed to come to the business from a creditor. That invoice is then passed off to a financer for a lower rate, who gives them instant cash. After the credit period is over, the financer then takes over and collects the due amount from the creditors. It is a win-win situation for the business as well as the financer.
However, considering that there are a large number of parties involved, there’s a big scope for manipulation and fraud. This lack of transparency in operations is what hinders this industry’s growth. Invox Finance is all set to introduce a blockchain-based platform which will ensure that all communication is clear and transparent with the help of dynamic invoices. Let us take a closer look:
Invox Finance: Improving Transparency in Invoice Financing Operations
Invox Finance offers a decentralized and peer-to-peer platform for business invoice management based on blockchain technology. Since it is a blockchain based platform it brings in a much-needed dose of transparency into an otherwise complicated and complex system that managing invoices can be.
Invox brings in transparency into the system with the help of blockchain technology. With the use of a Blockchain system, Invox ensures that the ledger on which invoices are being recorded is accessible by all the parties involved in the invoice financing deal. Any changes to the data in the invoice can only be made with the approval of all the parties involved – which makes the system fraud-proof.
Finally, the most important feature of Invox Finance is that it allows individual investors to buy these invoices from businesses. Users can either choose to buy complete invoices, or buy them in chunks. For example, if a business has an invoice worth $10,000 – a buyer can buy off $1,000 worth of that invoice. Users can buy multiple such invoices which distributes any risks associated with payment default in multiple parts.
Invox Token Sale and Initial Coin Offering
Before you begin to invest into the business invoices on the Invox Finance platform, you need to buy a yearly membership of the Invox platform. This membership can only be purchased via the Invox Tokens. To purchase these Invox tokens you need to participate in the Invox ICO and Token Sale, which is currently offering the tokens at discounted prices. For more details on the Invox ICO and token sale, log on to https://invoxfinance.io
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