Meet the New IFA Advisory Board Members: New Perspectives from Factoring’s Leaders – Part Two

The International Factoring Association (IFA) recently welcomed Paige Runyard, Brian Center, Tom Croteau, Andrew Osborn, and Jonathan Brindley to the IFA Advisory Board for two-year terms. Together, these accomplished professionals bring a wealth of experience spanning sales, transportation factoring, fintech innovation, portfolio risk management, and business development.

In Part Two of our series, we continue our conversations with Tom Croteau and Andrew Osborn. Drawing on decades of experience in transportation factoring, sales leadership, underwriting, and working capital finance, they share their perspectives on the trends shaping the industry's future, the role of technology in modern factoring, and the importance of balancing innovation with sound risk management and strong client relationships. Their insights reflect the expertise and forward-thinking leadership they bring to the IFA Advisory Board and the factoring industry as a whole.

Join us as we conclude our two-part series and get to know Tom Croteau and Andrew Osborn, the newest additions to the IFA Advisory Board.

Tom Croteau - President & CEO, OperFi

Tom Croteau has over 13 years of experience in Operations, Underwriting, and Management within the transportation factoring industry. He began his career in 2012 as VP of Operations at Single Point Capital, where he developed a strong expertise in factoring and transportation finance. An Air Force veteran, Tom founded OperFi in 2019 to provide working capital to small and medium-sized carriers and logistics companies, with a focus on supporting veterans and veteran-related causes. OperFi offers veteran discounts and donates a portion of its profits to veteran charities annually. Tom has been involved with the International Factoring Association (IFA) for the past 12 years, bringing valuable insights, particularly in Operations and Underwriting within the industry.

What do you believe will separate successful factoring companies from the rest over the next 3–5 years?

The winners will be the ones who adapt quickly and automate aggressively without ever losing sight of the fundamentals. We have watched new factors come into the space with better technology, and that technology has clearly earned its place. Speed and automation are real advantages. But technology on its own is not a strategy. Without a real grasp of fraud, risk, and credit, and a genuine understanding of our industry, the clients we fund, and the actual transaction behind every invoice, all that automation just helps you make bad decisions faster. That is where the vulnerability hides.

The companies that pull ahead will pair the two. They will use AI and automation to move faster and run leaner, and they will keep the discipline to underwrite well, catch fraud, and manage and monitor a factoring book the way it should be managed. Automation should sharpen your fundamentals, not replace them. The firms that understand that difference will be the ones still standing and growing in five years.

How has the volatility in the freight market over the past few years reshaped your credit risk strategy or client mix?

The prolonged soft market changed how closely we watch the things that move before a loss does. We pay more attention to debtor concentration, broker credit quality, sudden authority or contact changes, and client/debtor behavior that does not fit the company’s profile. When rates are healthy, weak operators can hide. When the market stays down, the cracks show, so our monitoring has to be tighter on the back end, not just the front.

Our client mix has stayed focused on new and growing carriers and brokers, but we are more deliberate about how we structure and monitor those relationships. The volatility did not make us pull back from our segment. It made us better at managing risk inside it.

What was the turning point in your career that made you fully commit to the factoring industry—and how has that shaped your approach to growth or risk?

When I started OperFi, I assumed that raising a little capital would be enough to qualify for a traditional bank line and I would be off to the races. The banks did not doubt my capability. I just ran into the same wall every new business owner hits, the two years of positive cash flow and tax returns a traditional line requires.

What changed everything was being introduced to a general factor outside the transportation space. I built a relationship with them and factored my own receivables for two years while I grew the company and eventually qualified for that traditional line. So, I did not learn this industry from a desk. I learned it as a client.

That experience taught me what factoring actually does for small business America. It is a stepping stone and a path forward, and for a lot of entrepreneurs it is the American dream in motion. It also taught me how a client wants to be treated, because I was one. That is why I am passionate about this work. I have stood in those shoes, and it drives how I make decisions every day on how we support our clients.

Andrew Osborn – Senior Managing Director, Working Capital, Pathward

Andrew Osborn is a seasoned sales leadership executive with over twenty-five years in business development, sales management and corporate marketing within the specialty finance industry. As a member of executive management teams at leading asset-based lending and factoring firms, Andrew has played a pivotal role in strategic planning, new business origination and the execution of corporate initiatives.

Andrew is recognized for his expertise in recruiting, hiring, and training high-performing sales professionals. He has led successful corporate rebranding efforts and played a key role in the development of comprehensive marketing strategies designed to enhance brand reputation and drive growth. His collaborative approach and commitment to supporting remote sales teams has fostered strong loyalty and high productivity among his colleagues.

What was the turning point in your career that made you fully commit to the factoring industry—and how has that shaped your approach to growth or risk?

A defining moment in my career was when I learned about a job opportunity in the factoring industry that combined my skill set and my interests. Early on, I was introduced to a local factoring company with an opening in business development, and I quickly saw that the role drew on both my accounting background and my sales experience.

What convinced me to fully commit was the durability and relevance of the solution. While products and structures may evolve, the need for working capital and cash flow support for small businesses remains constant. That realization has shaped my approach ever since: pursue growth by building trusted referral relationships, and learning and understanding clients/prospects businesses in depth but always balance that growth opportunities with risk assessment related to the industry and collateral. That mindset has guided me throughout nearly three decades in the industry.

From your perspective, what’s the most meaningful way the factoring industry has changed—and what do you think we still need to work on?

The most meaningful change I have seen in the factoring industry is the advancement of technology. Historically, factoring was a very high-touch process that relied on a large volume of documentation and manual review, which made it difficult to scale efficiently. Modern technology, including AI, has helped streamline many of those tasks and made it possible to assess risk faster and more consistently using historical and behavioral data. 

Where we still have work to do is making sure technology supports—not replaces—strong judgment, underwriting discipline, and client relationships. Factoring remains a relationship-driven business, and continued progress in transparency, education, and operational efficiency will be important for the industry’s long-term growth.

In a competitive market where many factors offer similar products, what has been most effective in helping you differentiate your company’s value proposition to prospective clients?

What has been most effective in differentiating our value proposition is taking the time to understand each client’s business and their specific needs, then offering solutions that directly address their challenges. Our unique capital and organizational structure also allow us to tailor those solutions and deliver them at highly competitive rates. Equally as important, we differentiate ourselves by executing consistently and following through on our commitments.

The Advisory Board plays an integral role in the association by providing guidance, industry perspective, and thought leadership that help drive the IFA’s mission and create value for its members. Collectively, these new board members bring extensive industry expertise and leadership experience that will strengthen the IFA’s ability to address emerging challenges, encourage forward-thinking initiatives, and create lasting value for members and industry partners.

Across both parts of this series, one message stands out: while the factoring industry continues to evolve, the principles that drive long-term success remain remarkably consistent. Innovation, disciplined risk management, exceptional client service, and a willingness to learn from one another will continue to shape the industry's future. With leaders like Paige Runyard, Brian Center, Tom Croteau, Andrew Osborn, and Jonathan Brindley joining the IFA Advisory Board, the association is well positioned to help guide that future and continue delivering value to its members and the broader factoring community.