Factoring Solutions was approached by an established recruitment company a year ago who wished to change their factoring company to one that could also offer back office facilities so I introduced them to Calverton Finance who were one of my very few preferred factors. The reasons being that Calverton offered an exceptional level of service and also operated a highly regarded in house back office facility whereas many others white labelled external facilities. The facility was approved by Calverton and accepted by the recruiter and they were signed up by Calverton in January 2021
As readers of the Factoring Blog may recall I was horrified when just a month later Calverton was taken over by Pulse which was a company that I wouldn’t touch with the proverbial bargepole but I thought that rather than remove all my clients and place them elsewhere I would leave it be for a while to see if the leopard had changed it’s spots. Unfortunately that wasn’t to be as in December Pulse managed to lose the client that had only been with them for less than a year as it moved on to a factoring company that didn’t have any back office facilities.
If that wasn’t bad enough Pulse Cashflow also committed the cardinal sin for every broker by not bothering to tell me what had happened leaving me to find out myself. Fortunately I keep tabs on all my clients at Companies House and it was them that sent me a notification informing me that a charge had been registered to another factor.
I hope that Pulse Cashflow aren’t expecting any more introductions from Factoring Solutions as that isn’t going to happen as fortunately there are one or two alternative factoring companies that offer a quality service including in house back office facilities and Pulse’s loss will be their gain.