Internet Route to Sourcing Finance; in Today's Recessionary Marketplace, the Need to Generate Business Funding Immediately and Effectively Is Paramount. the Internet Has to Be the Way Ahead for Sourcing the Best Invoice Finance Deals, Says Simon Carter, Director at Leading Online Broker Touch Financial

The Birmingham Post (England), May 20, 2009 | Go to article overview

Internet Route to Sourcing Finance; in Today's Recessionary Marketplace, the Need to Generate Business Funding Immediately and Effectively Is Paramount. the Internet Has to Be the Way Ahead for Sourcing the Best Invoice Finance Deals, Says Simon Carter, Director at Leading Online Broker Touch Financial


Byline: Simon Carter

T he Internet can no longer be discounted as a supplementary or superfluous sales generation channel for invoice finance. With burgeoning numbers of business Internet users, the speed and flexibility offered by online fund sourcing has become a key route to corporate survival and profitability.

Over the last five years, Touch Financial and its predecessor, Xbridge Invoice Finance, have seen online enquiries for funding grow year on year by an average of 40 per cent. Touch Financial is now generating over 500 sales leads each month, a high proportion of which will be converted due to the stringent sifting processes which Touch adopts in matching clients to appropriate lenders.

These figures are projected to rise significantly in coming months, not only because of Touch's proactive approach to marketing its online brokering services, but because asset-based lending continues to grow and dominate the funding market.

It is quite obvious that in the current recession, businesses are turning away from more traditional funding via the bank overdraft and are looking elsewhere for the financial help they need.

You only have to look at the way the banks have become more aggressive in their marketing to know that, despite market growth, the pressure is on for invoice finance leads. Where once the banks placed either no, or very little, strategic focus on their invoice finance division - if they had one at all - we are now finding that asset-based lending, in all its forms, is at the heart of their commercial finance strategy. Online lead generation, often via an Internet-specialist broker such as ourselves, is reaping benefits for them.

However, where the Internet and brokering combination has really flourished, and can be a major contributor to competing successfully in the financial services marketplace, is amongst the independent funders. Whilst unable to finance the expensive branding and leadgeneration campaigns of their far larger competitors, many have strongly grasped the Internet and the use of online brokers as their key way to market. …

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Internet Route to Sourcing Finance; in Today's Recessionary Marketplace, the Need to Generate Business Funding Immediately and Effectively Is Paramount. the Internet Has to Be the Way Ahead for Sourcing the Best Invoice Finance Deals, Says Simon Carter, Director at Leading Online Broker Touch Financial
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