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Touch Finance Invoice Factoring and Invoice Discounting Comparison

A part of the SFP group, Touch was founded in 2008 in order to provide non-traditional banking funding for businesses across a vast range of sectors. With bespoke invoice financing, as well as asset, trade, export and import finance, credit protection and business security, Touch Financial are experts in the field with an enviable reputation.

Factoring and Discounting Differences

Factoring and discounting are similar methods of invoice funding with the main difference being the factor takes control of the debts, including taking on liability for them in the case of non-recourse factoring. Both methods have their own advantages and disadvantages, which these are will depend on the requirements of the individual business.

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Factoring Features

As you might expect from a company with the broad range of knowledge that Touch offers, there are many features to their service.

These include:

  • Small Minimum Annual Turnover
  • Efficient Funding
  • Professional Service
  • Anonymity

Small Minimum Annual Turnover

While most invoice factors require relatively high levels of annual income, in some cases as much as £250,000, Touch can provide funding to clients with as little as £25,000, meaning small businesses are not prohibited from accessing vital funding and support. Rates may vary, depending on the risks involved, but the ability to access future funds without debt can be vital to small businesses.

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Efficient Funding

While efficiency is key to the success of this type of funding, it isn’t only the speed in which these funds are made available that is important. Touch make funds available within 24 hours of the invoice being offered and can all but guarantee, providing there are no issues, that you will receive payment without delay. This gives each of their clients a degree of peace of mind that only a highly professional service can offer.

Professional Service

It isn’t only in their efficient delivery of funding that Touch are highly regarded, however. The main difference between factoring and discounting is the factor collects the money owed to you in a timely and professional manner and Touch provide this service as well as anyone. This can be vital to the image of a company as a professional service at the most sensitive end of a business, collection of debts, can both make or break a business.


Many companies prefer employing the services of a factor for this precise reason but do not wish to make it known that they are hiring another company in order to collect and process payments. Unlike many factors, Touch Financial can provide an anonymous service meaning your clients need not know that a third party has been employed. Alternatively, and if preferred, you can keep collection of payments in house, allowing for a higher degree of control over the running of the business.

Discounting Features

Touch Financial’s invoice discounting is as thorough as their factoring service, providing most of its features and benefits as well. There are, however, a few differences in the requirements and processes that makes for some variation in features.

These include:

  • Up To 100% Of Funds Made Available
  • Higher Minimum Annual Turnover
  • Greater Control Of Finances
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Up To 100% Of Funds Made Available

While factoring only provides a portion of the funds within 24 hours, typically between 80 and 90%, Touch Financial’s invoice discounting can provide as much as 100% of funds, minus fees described in the contract. This higher percentage of funds can be particularly beneficial to larger businesses as each invoice tends to be of higher value, meaning a 10-20% increase could be huge.

Greater Control of Finances

Inherent in invoice discounting, at least compared to factoring, is the ability of a business to maintain a high level of control over their finances. Although some, particularly smaller businesses, may welcome the support that comes with Touch’s expertise, for many it can be an unwelcome provision that only serves to complicate matters. This makes discounting the preferred choice of most larger businesses.

Higher Minimum Annual Turnover

Because of the greater risk associated with the relinquishing of control over their clients finances, a higher minimum annual turnover is required for Touch Financial’s invoice discounting service. Although there is no minimum level set in stone, it is rare that companies with an annual level of £100,000 are considered, although they do encourage all businesses to talk to an advisor.


Touch provide a standard support service that, although does not offer the kind of personal touch of some, is perfectly adequate for most. This includes a helpline that is open 5 days a week during normal working hours. Personal advisors are there to help make the entire process run smoothly and contracts are clearly explained and defined, meaning problems are rare and easily dealt with.