- 07 Aug
The Little Known Benefits Of Using An Invoice Finance Broker.
There are some benefits of using an invoice finance broker that SMEs may not fully appreciate. I thought it might be helpful to outline them in a short post.
A good invoice finance broker's knowledge of the market will be far more in-depth than any comparison site, or the knowledge that you could gain by searching the Internet yourself.
For example, whilst certain aspects of the risk criteria of particular providers may be published on their websites, there will be a particular nuances which are not.
These subtle differences between providers could include things such as who is prepared to deal with a company that is in a CVA? Who is prepared to accept a customer that has previously breached an invoice finance facility with another provider? This type of differentiation between different offerings is not available from a comparison site, and you are unlikely to be able to glean that information by trawling through the web.
Saving You Time
A good broker will know the most appropriate people to introduce you to. This will have a number of benefits. Firstly, it means that you are dealing with the individuals that are most likely to be able to offer what you are seeking. Secondly, a good invoice finance or factoring broker will deal with the best sales contacts that are available - the people that can get customers what they need, at the best rates. This means that you will be dealing with the top performers, that are most easily able to get you what you need. This can save you a great deal of time searching around the Internet to find providers, and attending time wasting meetings, only to find out that particular provider cannot help. This can prove to be the case even when initial indications are that they can help.
We have seen numerous examples of customers wasting their time trying to find what they need directly. This is one such example where the customer misunderstood what the invoice finance company could offer.
On average we have been able to save our clients 34% on the invoice finance prices that I have been quoted elsewhere. An invoice finance broker we'll keep in contact with the providers around the market, so that they are aware of the latest pricing advantages that are available to customers. This could include recent offers or discounts.
In addition, it is sometimes the case that due to the volume of deals transacted, an invoice finance broker will be able to secure better rates for their clients than clients may be able to secure directly with the provider.
Some clients fear that using a broker could lead to their commission "bumping up the rights", that is often not the case. Firstly, many providers will not adjust their price according to the introductory channel, or they discount their rates to secure the business in a competitive situation. Secondly, there are so many providers now available (105 at last count) that there are plenty of options. We have only been able to deliver those cost savings by knowing who offers the best rates within the market.
When you deal with a broker service such as ours, we take care of all the work for you. You avoid needing to dig around looking for more obscure financiers as we have already done that work. We have carried out extensive pricing comparisons, so that we can introduce you to the very best providers immediately. You will also have the benefit of an independent expert to discuss your options with, and to turn to for support.
- 02 Jul
Industry Sectors We Are Supporting At Present
Variety is the spice of life, and it never ceases to surprise me the range of different industry sectors that we get involved with supporting through invoice finance.If we can help you find the funding you need please call Sean on 03330 113622.At present our pipeline of deals nearing completion is pretty good, with a number of new clients in the works. As always these are drawn from across a...
- 14 Jun
Why Use An Invoice Finance Broker?
Invoice finance brokers normally work with a range of invoice finance companies, in order to understand what they offer and to be able to introduce prospective customers to the right provider. We are based in St. Leonards-on-Sea, near Hastings in East Sussex from where we handle the whole of the UK. We can introduce you to funders that have offices local to you if required.You may be asking...
- 26 Apr
Expert Guidance About Invoice Finance.
Invoice financing can be a complex subject, and often expert guidance and advice is what customers really need.We can provide you with expert guidance about invoice finance.Just call Sean on 03330 113622.We provide a personal service to find you the invoice finance that you need.We are experts, with decades of experience and an extensive archive of research regarding our sector.We are able to...