- 21 Jul
Business Development Manager Training Gap In Invoice Finance
Building on the recent theme of why the factoring industry isn't selling more invoice finance to new clients, I recently had an interesting discussion with a recruitment consultant that specialises in the commercial finance industry and has numerous vacant roles on his books for BDMs (Business Development Managers) the term used for sales people within the factoring industry.
The recruitment consultant is convinced that there is a huge gap in the market for the provision of sales training to BDMs as the quality of the individuals putting themselves forward for sales management roles is often very poor. This would be an interesting niche for someone to address - providing pre-recruitment interview training to BDMs specifically within commercial finance and also training specifically around the invoice finance sales process.
Two points are of interest here. Firstly that there is a training gap in the sales function that feeds the factoring industry generally, but also that there are so many unfilled vacancies being advertised. Both of these factors undoubtedly contribute to the factoring industry failing to take its rightful market share within the commercial finance marketplace.