The article explains the results of our recent research into the reasons for customers using overdrafts and what customers say is needed in order to entice them to switch from overdraft to invoice finance.

You can read a copy here: How to Switch Customers from Overdraft to Invoice Finance

If you are interested in switching from overdraft to invoice finance please contact Cashflow Acceleration Ltd directly, we may be able to find you a cost saving on your existing charges and/or additional amounts of funding.

The offer is is for businesses that sign our partner’s normal agreement of 12 months minimum with a notice period of 3 months and it is only open to businesses where the owner is a home owner and prepared to provide a personal guarantee.

This is a very attractive option for small businesses looking to maximise the amount of funding that they can raise against their sales ledger – 100% funding against invoices is vary rare!

This is something of an achievement when you consider the size and specialist nature of our sector.

If you would like to join our free discussion group please follow this link: http://www.linkedin.com/groups?mostPopular=&gid=3323843

To give your opinion on whether the UK Invoice Finance market will grow in 2012 please vote here

This follows Cashflow Acceleration being “Commended” in last year’s Business Moneyfacts awards ceremony.

“The Business Moneyfacts Awards are the largest Business Finance Awards in the UK, held at a gala dinner which is one of the highlights of the industry calendar. Rigorous product monitoring is carried out throughout the preceding year and the broker community is also consulted for their feedback. The ceremony is the pinnacle of the year’s product and service advocacy and grows in stature year on year.” Business Moneyfacts

Our thanks goes to everyone that proposed us for this award - fingers crossed now for the results!

In some cases clients are cautious about using an outsourced credit control service as they are worried about whether it will affect their current debtor turn (a measure of the speed at which debtors or customers pay).

Our recent research, amongst 100 SME businesses found that 54% of businesses thought that using a factoring service would improve the speed with which debtors paid.

The article explains research findings from research that we have recently conducted with a group of SMEs regarding their views about selective invoice finance and auction sites that can be used to access invoice finance.

• Demand for loans/overdrafts has fallen recently
• Demand is unlikely to increase in the next 3 months
• The majority of new/renewed loan or overdraft applicants were successful
• 2% of all SMEs were unsuccessful with an overdraft application, and 1% were unsuccessful with a loan application

You can find the full details of the research here: SME Finance Monitor Research

We therefore consulted a sample of 100 SMEs and asked them:

“Would you expect businesses using invoice finance to prefer to receive funding from one named financier that they select; or from the financier that can provide funding at the most competitive price via an auction site?”

61% of respondents answered “one supplier” – and their main reasons for this choice were the hassle they expected to be involved with using an auction site and missing out on the relationship that they would build up with their invoice finance company.

39% of respondents chose the auction site option and said their reasons for doing so were that it would be cost effective and able to be used when they wanted.

Our findings suggest that whilst the traditional approach to invoice finance is still the most popular i.e. whole turnover funding from a company the client selects, there is a clear niche for invoice finance auction sites and selective invoice.

For more details please contact Cashflow Acceleration Ltd