- 18 Mar
Most Invoice Finance Clients Switch Invoice Finance Companies For A Cheaper Deal
Cheaper Invoice Finance
I have further analysed some of the responses to our survey of 100 existing invoice finance users and looked at the reasons they gave for moving to their current invoice finance company.
The most commonly mentioned reason for moving was to get a cheaper deal - 42.4% of the responses mentioned a cheaper invoice finance deal as the reason for moving to their existing provider. This was also the leading reason by far with the next most common response being mentioned in only 16% of cases. I will publish a full list of the reasons for moving invoice finance companies shortly.
This suggests that shopping around for price is key within the market and it also shows that a lot of invoice finance companies are losing existing clients over pricing - which is particularly interesting when you consider that one of their competitors has done the deal a a lower price.