Centennial High School
Teacher
Participates in TIP Experience
This summer, Marie Robinson, Centennial’s Work-Based Learning Coordinator was
selected to participate in the Teachers in Industry Program. The Teachers in Industry Program (TIP) is a
cooperative project of the Georgia Department of Education and the Governor’s
Office of Workforce Development. Mrs.
Robinson was selected as one of 50 Georgia teachers to participate in the
program. The objective of the program is
to provide teachers with 20 hours of on-site work experience to enhance
work-based learning program delivery.
(Pictured on the left: Marie
Robinson)
Mrs. Robinson had a great opportunity to learn
what it is like to be a part of a fast-paced, modern business office
team. She worked for Riviera Finance. Riviera Finance is a
factoring company located in Alpharetta, Georgia. Riviera also has
several locations throughout the United States and Canada. The company
has been in business for over 40 years. The office staff and employees
were friendly, helpful, and very hard working. Riviera has also been one
of Centennial’s work-based learning job sites for the past two years.
Riviera Finance operates with a sales
team, account executives, assistants, and managers. Factoring allows a business
to have access to money before they are paid by the company for which they
performed a service. The client makes a sale, delivers the product or service
and generates an invoice. Then, Riviera Finance buys the right to collect on
that invoice by agreeing to pay the client the invoice amount less a
discount--typically 2 to 6 percent. According to Amy G. Connaughton, one of
assistant managers the for the company, factoring companies help businesses
such as trucking companies or staffing agencies to be able to get paid for
their loads or to be able to make payroll which keeps their businesses
operational.
Many of these clients don't have the
luxury of working with a bank and getting low interest rates. Factoring costs more than a traditional
loan. If the client can't qualify for a
loan, their best and in many cases only option is working with a factoring
company. Many factoring companies also provide services banks do not such as:
providing accounting work for their clients, help with credit checks, getting
extended payment assistance if needed, and getting financial reports generated
for tax purposes.