Factoring companies are currently being used by over 41,500 businesses according to statistics released by the factoring companies trade association. These businesses are generating combined sales in excess of £200 billion making factoring and invoice discounting a mainstream finance product as opposed to the niche it once occupied.
There are a large number of factoring companies actively competing for business but whilst all appear to offer the same product there are differences in the ways that each factoring company operates and some of the differences are so profound that the factor that might be the most suitable for one company could actually cause financial problems for the next.
In addition to the operational differences there are also huge variations between the efficiency of the credit control and sales ledger functions between one factoring company and the next with many being so poor operationally that we refuse to introduce our clients to them.
Factoring Solutions is one of the longest established specialist factoring and invoice discounting brokers around and we know which of the few factoring companies actually delivers on their promises as sadly too many don’t. Our advice is completely without obligation and free of charge as we don’t charge any fees at all so why not telephone us on 01827 707680 for an informal chat but before you do you may wish to read some of our notes on the pitfalls of using factoring companies.
Factoring and Invoice Discounting Solutions
5 Torridge, Hockley, Tamworth, Staffordshire B77 5QL
Tel: 01827 707680
enquiriesNOSPAM@factoring-companies.org.uk
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