Invoice finance solutions

Invoice finance in the form of factoring or invoice discounting is now being used by over 47,000 companies in the UK, generating a combined turnover in excess of £170billion, according to statistics released by the Factors & Discounters Association. These figures are increasing quarter on quarter.

An interesting statistic (unfortunately not available) would be how these companies select the invoice finance company with which to entrust the financial health of their business, as selecting the wrong one could have devastating effects.

It would seem that the majority of  companies using invoice finance to speed up cash flow take the simplest route and sign up with the subsidiary of their clearing bank ( approx 70% ) without first establishing whether or not there are more suitable options available.

The rest entrust their company's financial well being to an invoice finance company selected in a variety of ways ranging from looking in Yellow Pages -which is surely why there are so many invoice finance companies beginning with the letter A - to asking their accountant or insurance broker, who's probable knowledge of the industry comes from the factoring company salesman who has most recently canvassed him.

It should be straightforward but in reality it isn't and as we have very real concerns with the way that some factors operate we have set out details of the possible pitfalls in the following pages including such matters as "Why some factors offer such a poor service" and "Why the cheapest quote often works out much more expensive in practice"

There are no charges for our services and you therefore have nothing to lose but much to gain by speaking to us as we only introduce people to one of the few factoring companies that actually perform.

For an informal chat, please contact Factoring Solutions without any obligation whatsoever or click on the links for details on selecting the factoring company and why the cheapest factoring quote often works out more expensive in practice.