Most Invoice Finance Users Don't Want To Move Invoice Finance Companies
Anecdotal feedback often focuses on the minority of invoice finance customers (factoring and invoice discounting clients) that are unhappy with some area of the arrangement that they have. However, new research suggests that is not the case for the majority of invoice finance clients - most of them are very happy and do not want to change invoice finance companies.
Indeed 71% of existing invoice finance users told us that nothing would make them move away from their existing invoice finance company. The only significant issue, over which 23% said they would switch invoice finance providers, was to achieve a price reduction.
When combined, those that wouldn't move IF companies, and those that would move for a price reduction, accounted for 94% of those interviewed.
When you overlay that with our previous findings, that 98%* of existing invoice finance users would recommend using the service to other businesses, you paint a picture of a generally very satisfied base of existing IF users.
Source: FundInvoice IF & Crowdfunding Advertising and Promotion Survey - January 2016 (100 respondents, all existing invoice finance users of a variety of different invoice finance companies). *Invoice Finance Recommendation & Advertising Survey May 2015 (100 respondents - all existing users) the sample was expanded, to 200 respondents, in our Invoice Finance And Late Payment Survey - October 2015 (100 respondents - all existing users of invoice finance).