• 24 Feb

    Underselling Invoice Discounting Benefits

    I have just had a meeting with an invoice discounting company who wanted to give us a demonstration of how their product and supporting system works. Fantastic system, plenty of benefits for the client such as minimal administrative workload, no month-end reconciliation, no retentions for recourse being held until the end of the month, but the discounter just isn't promoting the benefits in a tangible way that client's will understand e.g. case studies that will demonstrate those benefits.

    At face value it is very difficult for a typical client to tell the difference between this type of offering and everything else on the market, although the difference is evident to anyone that has worked within the industry and it will become apparent to the client if they are ever in the position to compare using that type of product against traditional invoice discounting.

    This supports the findings of our research that one of the key reasons for businesses not using invoice finance is that the invoice finance companies are not promoting it enough and businesses just don't know about the products.

    By Glenn Blackman

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