Vision Critical has, since its inception, powered the development of customer relationships for invoice financiers and asset based lenders. The following customer quote explains just one of the ways in which we have helped: “Previously, we had to do our own credit checks and this was just taking far too long. Because everything goes through our SAGE system, anything that we do our lender can access and that make processing invoices much quicker and life more straightforward.”
Add to this ease and convenience the fact that the data is always up to date, so information (funding levels) can be passed back to the borrower more quickly, and you can see why the popularity and adoption of both OSMO® and invoice finance are so strong.
We also read with interest today that UK businesses will prioritise reliable service ahead of best price when choosing a funding provider during the recovery. These are the finding of the think tank hosted by Venture Finance, documented in the subsequent white paper: “The Evolution of Invoice and Asset Based Lending”.
Attendees included representatives from the Asset Based Finance Association, KPMG, the Federation of Small Businesses and the South East England Development Agency. Professor Nigel Waite, head of the Financial Services Research Forum, chaired the debate.
The white paper reports the consensus that Invoice and Asset Based Lenders’ ability to build a robust and long-term business relationship is based upon a deep understanding of a client’s operations, and provides the industry with a defining USP, one of particular relevance to businesses in the current financial landscape.
Peter Ewen, Managing Director of Venture Finance, comments: “Our industry’s relationship-based approach has remained consistent. Battle-weary businesses are entering this new financial era with a changed perspective on their lending requirements, seeking to make the relationship they have with their financier a top priority. Many businesses are finding traditional methods of funding, like overdrafts, are not appropriate anymore.”
Professor Nigel Waite, head of the Financial Services Research Forum, comments: “As well as proving its worth as a reliable source of working capital, ABL has also demonstrated that service features rank highly as core components of its proposition to business. Indeed, ABL adds considerable value to a business through the ways in which it validates the robustness of a client’s business model and operational performance. In this way, it should be viewed as being an endorsement of the business and be sought after as such. Trustworthy, value-added services mark ABL out from the more distant and remote sources of finance that are on offer from the banks.”
Vision Critical and OSMO® empower lenders with real-time information, saving them and their customers time and money. As our relationships with lenders strengthen and grow, so do their own corresponding customer relationships.
