Recruitment Finance is a line of funding that advances cash to your business in order to pay staff wages without the pressure of cash flow problems. By processing time sheet information the funds are advanced to meet the payroll cost. Once the invoice is paid, you receive the balance.
By using a Recruitment Finance facility you can concentrate on the most important aspects of running and growing your business. With recruitment finance, the funding is advanced against your permanent or temporary placements so you can pay your wage salaries on time.
With the ever increasing cash flow demands, staff wage payments, back office administration, placing staff, PAYE legislation and facing other business pressures a recruitment finance advance can prove an important line of capital resource for your business.
This facility can help provide an immediate cash injection of up to 100% against your outstanding invoices. It’s a combined back office finance solution that works with your business providing the support it needs.
It offers a monthly rolling contract so you don’t feel obliged to remain with the service if your requirements change. It is flexible with your business needs and aims to be an extension of your team.
By encompassing invoice finance and back office the Recruitment Finance product works together as two facilities in one package.
It has helped many recruitment companies with the burden of cash flow. Many recruitment agencies have monies leaving their business on a weekly basis but may not get paid themselves until the end of the month. A classic business cash flow issue faced by many businesses. It helps help by bridging that gap.
You can also cost save. By utilising the Recruitment Finance facility your company won’t necessarily need to employ an administrator, a credit controller or a payroll clerk and then have to seek the funding you need to stabilise cash flow. You can simply use the service to help with both the funding facility and credit control or just purely use the Recruitment Finance as required.
The back office facility is of huge benefit to businesses adopting the service, from processing timesheets, generating invoices, creating funding against those invoices to pay your payroll each week, dealing with any umbrella companies or limited company contractors. It is a full-service credit control facility and the finance you need to prosper as a recruitment company looking to grow. By using this service it totally frees up your time to go out and concentrate on growing and driving your business forward rather than be faced with constant admin management.