• News

    Stay on top of past and present CIT announcements by reading our press releases.


  • pdf print email rss
    CIT Factoring University Releases “How to Manage Collections Efficiently” Educational Video
    New Video Explains How Businesses Can Effectively Manage their Accounts Receivable Process
    Monday, November 12, 2012 08:30 AM
    Jonathan (Jon) A. Lucas, President of CIT Trade Finance (Photo: Business Wire
    This 90-second video explains the benefits of outsourcing the accounts receivable management process so companies can spend their valuable time and resources on growing and building their businesses.

    NEW YORK--(BUSINESS WIRE)--CIT Factoring University (CITFactoringUniversity.com), a website that offers a comprehensive education-based approach to the financial service known as accounts receivable factoring, today launched “How to Manage Collections Efficiently.” This is the third in a series of animated videos created to educate small and middle market business owners on how the various aspects of factoring can benefit their business.

    “Managing collections efficiently is the lifeline of any business and is critical to the financial success and liquidity of any company,” says Jonathan Lucas, President of CIT Trade Finance. “This 90-second video explains the benefits of outsourcing the accounts receivable management process so companies can spend their valuable time and resources on growing and building their businesses.”

    Quite often, business owners feel they are spending an inordinate amount of time tracking customer payments, monitoring customer credit and making uncomfortable collection calls. The problem facing many businesses is that it can take weeks, if not months, to collect payment on shipped goods. These delayed payments can cause a liquidity crunch that could lead a company to miss its own financial obligations, like paying suppliers or employees. As the video demonstrates, one solution is to have a factoring company handle the accounts receivable management process for them.

    Additional tutorial videos for business owners on Factoring University include “What is Factoring?” and “How to Minimize Bad Debt Losses.” Individuals interested can join the discussion about factoring on the Factoring University LinkedIn group.

    EDITOR’S NOTE:

    Follow us on Twitter: @citgroup, on Facebook: facebook.com/citgroup, and on LinkedIn: LinkedIn.com/company/cit. Individuals interested in receiving corporate news releases can register at cit.com/newsalerts or subscribe to the RSS feed at cit.com/rssfeed

    About CIT Factoring University

    CIT Factoring University is a Website that offers a comprehensive education-based approach to the financial service known as accounts receivable factoring. The site provides a variety of exclusive content that highlights the benefits of factoring for business owners. Visitors can view testimonial videos that feature executives from consumer product industries who explain why they use factoring and how it benefits their businesses. In addition, CIT Factoring University provides a list of Frequently Asked Questions; infographics that explain the factoring process, business solutions provided by factoring, and more.citfactoringuniversity.com

    About CIT

    Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $33 billion in financing and leasing assets. A member of the Fortune 500, it provides financing and leasing capital to its small business and middle market clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lending,factoringretail financeaerospaceequipment and rail leasing, and global vendor finance. CIT also operates CIT Bank (Member FDIC), BankOnCIT.com, its primary bank subsidiary, which offers a suite of savings options designed to help customers achieve a range of financial goals. cit.com

     

    Contact:

    CIT MEDIA RELATIONS:
    C. Curtis Ritter
    Director of Corporate Communications
    973-740-5390
    Curt.Ritter@cit.com
    or
    Matt Klein
    Vice President, Media Relations
    973-597-2020
    Matt.Klein@cit.com
    or
    CIT INVESTOR RELATIONS:
    Ken Brause
    Executive Vice President
    212-771-9650
    Ken.Brause@cit.com

  • Retail

    L.A. Fashion Industry Profile

    The Los Angeles fashion industry continues to play a crucial role in the city's economy and adopts a vanguard position trends that are changing the fashion industry.
    Twitter
    CIT  ‏@citgroup  3 Days ago

    Could free shipping become the new normal? Learn more. #ViewfromtheMiddle ow.ly/VFZ6t