Invoice Finance For Recruitment Agencies | Factoring for Recruitment Agencies
Invoice finance for recruitment agencies is essential nowadays because the main two burdens for young and growing recruitment companies are cash flow and administration. They need seamless and risk-free invoice finance services to increase their cashflow.We know the importance of making sure that your temporary staff are paid correctly and on time, even when your clients haven’t yet paid for your services.
We also understand that your staff will need paying much quicker than the standard 30 days your clients will take to pay you; potentially causing cash-flow issues.
As a company employing and supplying temporary staff you have an obligation to meet payment deadlines.
Payroll Services & Timesheet Management
Invoice finance for recruitment agencies provide’s payroll services that include timesheet management:
If you are a recruitment agency supplying temporary staff to businesses, you may have experienced issues around paying your staff on time, sometimes before you have even received payment from your business customers.
One of our case studies demonstrates how invoice Finance for recruitment agencies has helped temp and perm agencies to grow its business and shows how Biz Money can help both companies who are finding it tough, as well as those that are doing well.
For Start-Up Recruitment Agencies
Chasing invoices can prevent you from paying casual staff on time. Whether you’re a start-up recruitment agency or have been established for a number of years you’ll probably face the same problem – cash flow. Whilst invoices can be on 30-90 day terms with customers, temporary contractors often expect to be paid on a weekly basis, which can potentially cause a shortfall in cashflow.
As well as affecting the day to day costs of a business, a shortfall in cash flow can put pressure on and even hinder any potential growth and expansion plans that a business may have planned.
Avoid Late Payments
Avoid issues caused by late invoices with managed payroll solution because it improves your business cash flow, whilst also relieving your administration burden. Invoice funding become a genuine extension of our client’s teams who often tell us they wouldn’t be able to run their business without our support.
Payroll Finance – Invoice Finance For Recruitment Agencies
Payroll finance allows you to receive the cash from an invoice within 24 hours, allowing you to pay your temporary staff on time as well as giving your cashflow that extra bit of flexibility. It can also relieve you of the burden of the administrative duties, with our internal credit control team taking care of chasing payments, whilst our cloud based administration portal allows you to manage tasks such as timesheet management, payroll and invoicing where ever, whenever. This gives you the time to focus on the more important things.
If you are a new start up or an established recruitment firm and wish to know how invoice finance for recruitment agencies can help your business grow, please feel free to contact us via the online application form. Once we have received your enquiry a invoice funding specialist will contact you, to discuss your business funding needs and answer any questions you may have.