Glenn Blackman | Invoice Finance, Factoring & Invoice Discounting

Posted by Glenn on January 6th, 2011 in 1 - Invoice Finance, 2 - Factoring, 3 - Invoice Discounting, Research

When we spoke to a sample of SMEs we were told that 56% of them would prefer to use an independent invoice finance company rather than a bank owned company for their factoring or invoice discounting facilities. These are the reasons they gave for that choice:

• 41% Personal service
• 13% Wouldn’t trust banks after what’s happenened in last few years
• 9% Customer focused
• 9% Flexibility
• 9% Reliable
• 7% Not having “all eggs in one basket”
• 5% No foreign call centres
• 5% Not being just a number
• 2% Less risk

Clearly, there are a number of actions that banked owned factoring companies could take, to address some of these points, in order to increase their appeal to SMEs.

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