invoice discounting companies are all different

invoice discounting sales material from all of the providers could all have been written by the same person as invariably they all say the same thing irrespective of which discounter is trying to sell you their services. They all claim to offer fast, flexible solutions with unrivalled personal service.

On reflection, how likely is that to be true? The clearing banks are hardly known for their "fast, flexible or personal services" to the SME sector so in reality how likely is it that their invoice discounting and factoring subsidiary would be any different as they would still be operating within the corporate culture.

Invoice Discounting UK is a specialist broker with perhaps more years of discounting & factoring experience than any other. There are very few specialist brokers to the factoring and invoice discounting industry and most are run by ex industry salesmen. Where we differ is that our industry experience has been gained in senior operational roles within various invoice discounting companies so we are well aware of the minor as well as major operational foibles that can and do cause problems for the unwary.

We know which discounters are unable to make any decisions quickly as everything has to be approved by a variety of committees, which ones have a raft of extra fees that will come into play once the ink on the agreement is dry and which ones’ despite claiming to operate a “personal service” are actually governed by a strict rule book.

Our advice and services are free as we receive an introductory commission directly from the invoice discounting company and as almost all pay at about the same rate we have no vested financial interest in choosing one over the other.

Whilst many of the problems with poor service are primarily associated with factoring facilities there are as many problem areas with invoice discounting also waiting to trap the unwary with a prime example being the way that discounters try and reduce the overall funding levels through unapproved debts and concentration limits. It will only take a couple of minutes to read the next couple of pages and hopefully you will find them informative and helpful.

Please see next page for details on the hidden costs of invoice discounting