The most common questions

• How will this affect my customers?

• What if my customer doesn't pay? Do I have to give the money back to Inzap?

• How much does Inzap cost?

• How much could Inzap boost my cash flow?

• Why is it safe to allow Inzap to deposit into or withdraw from my bank account?

• Which of my customers should I use Inzap with?

• What aspects of the system make it easy to use?

• Is Inzap like factoring?

• How do I get started?

• Can I use Inzap to get better terms with my vendors?

Other questions we've heard

• Will my customers confirm payment quickly?

• How do I synchronize Inzap with my accounting software?

• Can Inzap handle customer credits?

• What if I make a mistake entering an invoice?

• How much of my invoice volume can I process with Inzap?

• When and how is customer support available?

• What information do I need to provide to sign up for Inzap?

• What if I have a problem or there is a discrepancy with my bank statement?

• Why is it safe to enter my sensitive information on the internet?

• Will Inzap respect the privacy of my company's information?

• What if I have more questions?

How will this affect my customers?

Inzap is virtually invisible to your customers, and you have control over communications with them. To see how, click here.

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What if my customer doesn't pay? Do I have to give the money back to Inzap?

Yes, you would have to pay Inzap back the money we advanced to you. The Inzap system is designed to get you paid faster, not to function as a collections agency.

Here's how it works:

• After you enter your invoice summary on Inzap, your customer will be reminded to pay via email or fax (from your company.) You control the date the reminder is sent.
• If we do not receive a check in payment for an invoice within 65 days of the invoice date, we notify you and we give you the option to return the funds before we contact your customer to ask for payment by day 75.
• If your customer cannot or does not pay the invoice, you need to return the funds to Inzap. As explained in the Seller Agreement, you are expected to pay associated fees (such as late fees) if we do not receive the funds in a timely manner.

The goal of the system is to give you a cash flow boost and give you control over communications with your customer.

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How much does Inzap cost?

The primary cost is an invoice fee that is a percentage of the invoice amount. Invoice fees vary based upon the time it takes your customer to pay. So, for example, the cost to give 30-day terms would be under 2%. This fee is less than what it costs business to accept credit cards, and is about the same as the cost of offering standard 2% 10 net 30 terms. Inzap is free to your customers. See Inzap fees for details and more examples.

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How much could Inzap boost my cash flow?

Up to $250,000, and sometimes more. It depends on your credit, the number and types of customers you invoice, and the amount of invoices you process.

After you fill out the 5 minute pre-qualification form, we'll ask you for some information about the customers you would like to use Inzap with initially. It is helpful to have this information for the first five customers. We'll give you a preliminary evaluation based on you and your customers, and you can then finalize your application if you like what you hear.

We assign a maximum funding limit to you (which should increase with successful payments) and we advance 100% of the invoice amount for the majority of your customers. We usually require that some invoices be "unfunded", so that if one of your customers does not pay, we both have a "safety net". To better understand how this works, please click here.

If you would prefer to fund just one or two large customers, please give us a call at 800-753-2551.

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Why is it safe to allow Inzap to deposit into and withdraw from my bank account?

• We move money into and out of bank accounts using ACH (Automated Clearing House) transactions. This is the same protocol used to move money for payroll direct deposits and by businesses to pay taxes to the Federal Government.

• We work with established banking partners and are strictly governed by NACHA rules. NACHA is the National Automated Clearing House Association, which includes over 12,000 U.S. banks (similar to the bank associations that comprise VISA and MasterCard.)

• Inzap will never make electronic transfers from your bank account that you have not authorized.

• Your bank has the right to reverse an ACH transaction within 2 business days if they deem it unauthorized. Therefore, if you discover a withdrawal from your account that you did not authorize, tell your bank within 2 business days in order to get it reversed.

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Which of my customers should I use Inzap with?

Some businesses like to use Inzap with all their customers, and we encourage that. It gives you maximum utilization of your credit line and the simplicity of managing all accounts on one system.

At a minimum, you should use Inzap with any customers to whom you want to give longer payment terms and still get paid fast. Even if a particular customer doesn't receive a high credit line initially, it can be valuable to transact with them on the Inzap system, because Inzap looks for a positive payment history when we grant credit line increases.

Please keep in mind that your customer needs to have an email address or fax machine to use Inzap. We also require that your customer be based in the U.S. and have a listed business telephone number.

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What aspects of the system make it easy to use?

The Inzap system was designed by one of the original product managers of QuickBooks, and it is easy to use for several reasons:

• Five minute signup: It takes literally 5 minutes to sign up to use the system. This is much easier than signing up for a credit card merchant account, bank loan, or most other financial products.

• Almost instantaneous setup: There really is no set-up required to use Inzap. All you need is an email address and a web browser. When you are ready, just enter your first invoice.

• Ten second invoice entry: It takes less than 10 seconds to enter one invoice into Inzap. Just type in the invoice number, customer name (from a drop down list), invoice amount, and invoice terms, and click "OK". There is other optional information you can fill in (like PO#), but it isn't required.

Since you've already sent your customer an invoice via your regular method, you've already entered your invoice into your accounting software. When Inzap deposits a payment in your account, you'll be notified and you can enter it just like any other payment (except that it will often occur much faster than 30 days). We have focused on taking the hassles out of getting paid.

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Is Inzap like factoring?

No. Inzap differs from factoring in several ways. Here are some of them:

• Inzap gives a benefit to your customers: payment terms that you choose -- up to 75 days. In contrast, a factor might begin hassling your customers for payment after 30 days.

• Inzap advances you 100% of the invoice amount for the majority of your customers, minus the small invoice fee. In contrast, a factor typically gives you only 75% to 80% of the invoice amount until the total invoice is paid. This is one of the reasons factors often cause problems with internal bookkeeping. With Inzap, the small percentage invoice fee is deducted as a separate transaction from the deposit of your invoice payment.

• Inzap can be used with as many customers as you choose. In contrast, a factor typically requires you to outsource all your receivables (though a factor may force you to exclude small invoices, a part of your business that Inzap doesn't force you to exclude.)

• Inzap keeps you in control. You know the status of every invoice and every payment at any time, and so do your customers. In contrast, a factor typically requires that a letter be sent out to all your customers telling them that your factor is taking control of your receivables.

• Inzap is very affordable. Just ask any factor how much it would cost you if you wanted to give your customers the benefit of paying in up to 75 days.

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How do I get started?

Just fill out the 5 minute free pre-qualifiation form and enter the names of a few customers that you expect to invoice in the near future. We'll give you a preliminary evaluation based on you and your customers, and you can then finalize your application if you like what you hear. When you send each invoice to a customer via your regular process, just enter a 5 second invoice summary in Inzap. It is that simple.

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Can I use Inzap to get better terms with my vendors?

Certainly. We can help you introduce Inzap to the vendors you wish to improve your terms with. Most vendors are very accommodating to their customers who wish to pay using Inzap, since they get cash flow benefits as well. The service is free to Buyers.

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Will my customers confirm payment quickly?

Yes. The average time it takes customers to confirm payment on the Inzap system is 6 days. If they don't confirm relatively quickly, we do send an automatic reminder to them via email or fax.

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How do I synchronize Inzap with my accounting software

You will continue to enter your invoices and payments into your accounting software just as you do today. In addition, you'll need to enter invoices into Inzap. This should take about 5 seconds per invoice. It is much faster than using credit cards and easier to reconcile than early payment discounts. Bank account reconciliation is a snap with the reports we provide. The bottom line: Inzap should save you time, especially when you add in the time you'll save in following up on unpaid invoices or clearing up billing questions. Here's what we suggest.

• Entering invoices:Send the invoice as you normally would and change the remittance address to a P.O. Box address we give you (your customer still makes out checks to your company). Then, just type the invoice number, amount, and payment terms into Inzap, with an optional description (for P.O. numbers and such.)