Settings → Manage servers holds your providers. Add sets up another one, and tapping a name switches to it. Channels, guide, films and series all follow whichever is active.
Everything the app learns about a provider is kept separate for each one — which channels have catch-up, how many days of recordings there are, and so on. Nothing learned from one is ever applied to another, because providers genuinely differ.
Favourites and recordings are yours rather than a provider's, and stay put when you switch.