Unlocking the Future: Highlights from the 2024 IFA Annual Conference

From May 1st to 3rd, industry leaders from across the globe convened amidst the breathtaking backdrop of Miami Beach, Florida, for the 30th Annual Factoring Conference hosted by the International Factoring Association. Boasting two full days of enriching educational content, countless hours of networking opportunities and a bustling exhibit hall hosting almost 850 attendees along with 95 exhibitors and sponsors catering to the Factoring community. Guests were treated to an immersive experience designed to foster growth, collaboration, and innovation within the Factoring industry.

Educational Enlightenment

To pursue current and future industry insights, attendees were offered a bounty of educational sessions including keynotes, breakouts, and roundtables. This provided platforms for discussions on the latest industry trends, strategies for enhanced organizational efficacy, and invaluable advice gleaned from the collective experiences of the speakers and attendees. 

Three sessions that generated significant buzz were the Legal Panel at Lightning Speed, a Discussion on Transportation Factoring, and the Senior Executive Roundtable. 

The legal panel featured expert attorneys leading discussions on topics affecting the factoring industry such as UCC filings, state-specific lending regulations, UDAAP regulations concerning unfair or deceptive practices, and Factor’s rights. The most popular breakout session of the conference was on Transportation Factoring, which was an insightful gathering that delved into the field of transportation factoring, exploring pertinent matters concerning the economics, legal and operational facets important to companies engaged in financing within the transportation sector. The Senior Executive Roundtable, composed of industry leaders, allowed the group to address unique challenges the Factoring industry faces while providing valuable tips, tricks, and successful solutions they have implemented to navigate the prevailing business landscape.

Because of these sessions and others, attendees were able to leave this conference’s hallowed halls armed with a treasure trove of industry wisdom and new connections to propel themselves forward into Factoring’s new frontier.

Economic Insights, AI and Beyond

What do a futurist and economist have in common? Factoring!

One of our most popular speakers, Mike Walsh, a leading authority on technology and transformation, offered a captivating vision of the "fifth industrial revolution" driven by Artificial Intelligence and its impact on the Factoring industry. By challenging conventional fears and presenting a compelling case for the Factoring industry to harness AI tools, he invited attendees to reimagine a workplace where humans and machines collaborate seamlessly, with AI integrated into the workflow to free employees for higher-level creativity. His enthusiasm for embracing AI's transformative potential in streamlining operations, enhancing decision-making, and revolutionizing customer experiences left attendees enthralled by the boundless possibilities this convergence of human ingenuity and machine intelligence could unlock for the industry.

The other big hit of the conference, renowned economist Andy Busch, provided a comprehensive analysis of the current financial landscape and its looming implications for the Factoring industry. One of the main ways Andy catered that message to the audience was through using real-world events like the upcoming U.S. presidential election, several ongoing geopolitical conflicts in the Middle East and Ukraine and new regulatory actions both in the United States and beyond that could profoundly shape the global economy and in turn, the Factoring industry, in the years ahead. He urged companies to use these current events as a catalyst to remain vigilant and adaptable. By emphasizing agility, continuous learning, and leveraging technology (including AI) to stay ahead, the crowd was empowered to take the tools and plan for the future of the industry–whatever that may be!

Honoring Excellence and Advocating for Progress

One common thread at this year’s conference was engaging in future-forward discussions and championing positive new initiatives to propel the industry forward as a whole. From learning about these practices to promoting ethical business decisions, attendees put forward a united front in advocating for the betterment of the Factoring landscape. This collaborative effort highlights the industry's commitment to growth, integrity, and the pursuit of excellence, laying a foundation for a brighter future for everyone involved.

Another highlight of the conference was the presentation of the 3rd Annual Bert Goldberg Memorial Award, which recognizes a member's extraordinary contributions to the Factoring industry and IFA as an organization. Bert Goldberg was the founder of the IFA and passed away in 2021.

With over three decades of experience in the Factoring industry, Debra Zukonik, Co-Founder and Chief Credit Officer of Dare Capital and Managing Partner of NN6, solidified her reputation as a true luminary and the deserving recipient of this year's award. Debra's vast professional achievements are a testament to her passion for the industry including her service as a former IFA Advisory Board Member and current AFA Executive Board Member. Congratulations Debra!

Networking Highlights

While the educational sessions undoubtedly left a lasting impact on attendees, it was the networking events that truly epitomized the conference's value. Opportunities for knowledge exchange and relationship-building were plentiful, and thanks to the support of our sponsors, proved to be memorable events. 

One of the most exciting parts of the networking experience was the prominent NEXGEN presence at the Wednesday reception including honoring the 5 recipients of the inaugural NEXGEN Awards. Their strong participation at the reception and other events demonstrated the next generation of Factoring professionals’ excitement to connect and learn inside the industry.

These opportunities facilitated countless connections and embraced the spirit and camaraderie of our industry. These successful receptions and events confirmed the ongoing support and collaborative spirit we as an industry have for one another. 

Looking Ahead

Be sure to mark your calendars for next year’s IFA Annual Factoring Conference slated for May 7-9, 2025 at the JW Marriott Desert Springs Resort in Palm Desert, CA. IFA leadership is already hard at work curating a new, exceptional lineup of speakers and organizing novel opportunities for learning, growth, and networking for the conference’s 31st annual meeting. 

Thank you to all the attendees for another great year! This ever-growing event stands as a testament to the unwavering spirit of education, leadership and community that defines the Factoring industry. Although leaving beautiful Miami Beach was hard for some, the educational content and resources gained and the connections with industry peers will guide attendees into the days to come.

Stay tuned for updates and announcements as the IFA continues its mission to empower and elevate the Factoring community.