- 18 Mar
Top 5 Reasons For Moving Between Invoice Finance Companies
These were the top 5 reasons that clients gave for moving to their existing invoice finance company from another provider - research results from our market research survey of 100 existing invoice finance users. These answers accounted for 80% of the responses:
- 42.4% - Cheaper
- 16.0% - Changed banks
- 8.8% - Better service
- 7.2% - More flexible
- 5.6% - More personal service
By far the key reason for moving invoice finance companies is cost savings - moving between providers for cheaper invoice finance deals. The second reason was not anticipated when we planned the study - changing banks. The clients moved invoice finance companies as they moved banks - there seemed to be a preference to keep everything with one provider despite the risks of having "all eggs in one basket".
Service levels and flexibility are there but further down the list.
Article - Free guide explaining - How To Switch Invoice Finance Or Factoring Companies.