Invoice Finance, Factoring & Invoice Discounting Research
by Glenn Blackman Invoice Finance, Factoring & Invoice Discounting Before you make the decision to either use invoice finance for the first time or to move between different factoring or invoice discounting companies you should review the extensive repository of invoice finance market research that we have conducted regarding these working capital products.This is a brief summary of some of the findings from various surveys that we have conducted:
- Average client life using these products was 5.28 years during which they used an average of 2.14 different providers.
- 42.4% of those that moved providers did so to get a "cheaper deal".
- Satisfaction levels with independent invoice finance companies were 45% higher than those that were owned by high street banks.
- 59% of high growth businesses (20%+ turnover growth pa) and 31% of new start-up businesses said that they lacked funding. In all cases, those with funding restrictions, were using either one or a combination of the following funding products: overdraft, loan or family money.
- All of the high growth and new start-up businesses that we surveyed, that used factoring or invoice discounting, said that they had sufficient funding.
In addition to the key findings above we have also looked at which companies are most highly rated by their clients and we have also undertaken mystery shopping exercises to find the providers that give the cheapest quotes.
All of these findings will help you make the decision about which provider to choose.
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Created on Dec 31st 1969 18:00. Viewed 0 times.
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