- 06 Nov
Factoring Companies Service Levels Are Different
We have just had an interesting conversation with a prospective client over service levels, factoring companies service levels differ enormously. The client wants to improve the level of factoring credit control service that they receive, and so are looking to move between providers. However, they have an impression, that is incorrect, that all factoring companies will be the same.
We have seen dramatic variations in service from assistance with credit control, maybe chasing just the larger accounts, through to a full service package where the client does not need to employ their own credit controllers, or undertake any aspect of the function themselves.
We have also conducted extensive customer satisfaction surveys amongst factoring customers of different providers, and we have found that service levels can vary enormously. The quality of the credit control service will be a key driver of satisfaction with a factoring company and one of our surveys identified a 67% differential between the worst and best rated factoring companies. Without that type of research it is hard to understand how you could decide between different factoring companies.
Not all factoring credit control services are equal. Call Sean on 03330 113622 for help.
Source: Factoring Company Satisfaction Survey March 2014 - 46 respondents all using factoring.