Time Finance is delighted to announce that it has won the top spot in Business Money’s 25 rankingand Review of receivables from the Invoice Finance sector. The annual Customer Intermediary Index recognizes and celebrates leading providers who provide excellent service to their customers, from onboarding and assessment, to relationship management and retention.
In partnership with the National Association of Commercial Finance Brokers (NACFB), Business Money surveyed UK business introducers – from financial advisers to brokers and accountants – to rank a total of 47 UK-based invoice finance providers . Time Finance and eCapital Commercial Finance (formerly Advantedge) won first place, followed by Close Invoice Finance in third place.
Phil Chesham, Bills Finance Manager, said: “This is a fantastic and very well deserved achievement for our team. It is a testament to the commitment of the people we have here who are passionate about supporting our customers and making a real difference to their success.”
Time Finance has been providing invoice financing solutions for over 15 years. During this period they have supported businesses from all corners of the UK and assisted with a wide range of growth plans from investment to expansion, mergers and acquisitions as well as problem solving cash.
Norman Chambers, CEO of NACFB commented: “NACFB works closely with Business Money: our nationwide members are highly professional and work with finance companies and other professionals to provide carefully tailored solutions to business financing needs.
We operate under a strict code of conduct and the Business Money Intermediate Index, launched in 2012, monitors the services provided by billing financiers to our members and their customers. Last year, our members secured £41 billion in new finance facilities, of which bill financing played a significant role.
As the Business Money report shows, our members monitor a lender’s ongoing service, long after the transaction is complete. Relationships are everything in trade finance.”
Phil continued: “Our priority is and always will be to build strong relationships with our customers. This starts with understanding the context of the business, the director’s vision for the future and how we can work together to spot opportunities and overcome challenges. It’s no surprise that our highest score was achieved by delivering excellent levels of customer service.Our teams are easy to manage and have a no-nonsense approach to doing business, which is why the average lifespan of our customers is 5 years. That’s 2 years longer than the industry average*.
“We know that our solutions play an important role in helping businesses rebuild the economy and we are committed to providing these businesses with solid financing solutions that inspire confidence and growth. We have ambitious plans to drive change on the market and lead the way as we support SMEs more.”
In addition to financing facilities ranging from £10,000 to £2.5m, Time Finance offers complementary services to its Invoice Finance solution. Their XTRA Time installations help customers access additional financing on top of their existing installations, not only to increase cash flow and to have the peace of mind that additional financial support is available whenever they need it. need. Time Finance’s optional Selective Bad Debt Protection product mitigates the risk of bad debts and allows customers to choose which customer they wish to cover.
*Source: Invoice of funds