The recent credit crisis stigmatized securitization, the practice widely associated with the now infamous subprime mortgages and defaults of asset-backed securities. But the market for the securitization of trade account receivables is alive and well, and continues to provide companies with low-cost and low-risk financing options.

Despite the heavy criticism of securitization, anecdotal evidence shows that companies have maintained interest in securitizing receivables. Even a recent change in the accounting treatment of securitization facilities to achieve more transparency won't curb that interest, according to experts.

As credit markets collapsed in 2007 and froze in 2008, consistent sources of funding for corporations all but disappeared. Receivables securitization, however, not only survived but began to thrive.