Reasons To Move Invoice Discounting Companies
As part of our survey of 54 existing invoice discounting users, we asked the respondents if they were prepared to move between invoice discounting companies and if so, what would make them move discounters?
The reasons they said they would move were as follows:
- 71% - Cost savings
- 10% - Personal service
- 7% - Wouldn't move
- 5% - A dedicated or personal contact
- 4% - Increase in funding
- 2% - Faster payments
- 2% - Covered all clients
Why Clients Move Between Invoice Discounting Companies
The results show the majority of invoice discounting clients are prepared to move between providers, slightly less than the results from our factoring users survey, but their reasons for moving would largely be to make cost savings. These results suggest that personal service or a personal contact was the second most important issue to this group - but it ranked significantly behind "cost savings".
Note: Some clients may have given multiple reasons for moving discounters. Rounding has also affected the total percentages.