Service levels are just as important your satisfaction as getting a great rate.
Are you happy with your trade and debtor finance provider?
This week we’ve had more than a few conversations with business owners coming to us to find out if there is better service offerings in the market than what they’re currently receiving. The experience of Line of credit facilities like Trade and Debtor finance are easily impacted by systems and operational staff that aren’t up to scratch. With lender acquisitions occurring and new players coming into the market we’re hearing things aren’t what they used to be.
You don’t have to be in business for long to learn that one of the constants we deal with is change. Change can be good and almost always creates opportunity, but sometimes that opportunity feels uncomfortable first or needs to be motivated off the back of a crap experience.
The Trade and Debtor finance industries are a space that have been undergoing rapid change over the last 12 months. Being a specialised lender space, it’s one where all the key players know each other and when new competitors and disruptors enter the market the impact can be felt across the sector. Particularly when they’re leading with offerings that aim to fill gaps that exist and add more value to businesses, Combine this with new lenders head hunting some of the best sales and operational staff out of the bigger players and a number of customers are experiencing service levels that they are not accustomed to or happy with.
This isn’t to say that the traditional players can’t be the right solution, they have their place and, like all cycles favour will swing back to them again. But if you’re not happy with the service levels or maybe you’re just curious to see if you can get a better package maybe it’s time to check the market again.