Revolutionising Recruitment for the Better

 

What’s the major change impacting recruitment agencies across the UK? You’d be forgiven for thinking that technology is the answer – but it’s not the latest hardware and software that’s revolutionising the industry. Recruitment factoring is the hot topic on everyone’s lips, from small start-ups to national agencies. Don’t worry if you don’t know what invoice factoring is – you are about to find out right here!

 

What’s All This Talk of Recruitment Factoring?

 

One of the toughest parts of working in recruitment is finding top-tier candidates and stretching the marketing budget to ensure you advertise in all the right places to attract those candidates. When cashflow is unreliable or falling short of your needs, the entire recruitment process can suffer a setback. So how can factoring companies for small businesses help? Recruitment factoring helps your business maintain a stable cashflow, regardless of which jobs are coming in and how many candidates you’re placing. Keep reading and you’ll find out how.

 

How Recruitment Factoring Helps Agencies

 

Recruitment factoring frees up cash tied up in those pesky unpaid invoices, so you can access it immediately for all your marketing and advertising needs. Have temps waiting to be paid or subscriptions that need to be sorted out? Invoice factoring is the answer. Put simply, it’s a low-risk way of borrowing the money you need right now, as you’ll never borrow more than you can afford.

Your invoice funder will release up to 90% of the funds tied up in your invoices, usually within 24 hours. Waiting around for late-paying clients and becoming increasingly frustrated becomes a thing of the past. Your funder can even take care of your accounts receivable if you like, chasing clients for payment as it becomes due.

 

What About Temp Recruitment?

 

With summer fast approaching, temp season is nearly upon us, and recruitment agencies across the country are gearing up to handle an influx of candidates and seasonal vacancies. Advertising for the right temps can make a serious dent in your marketing budget and finding clients who are looking for temporary workers can also stretch your summer budget to its capacity!

With recruitment factoring, you can make sure you have plenty of cash for marketing, advertising and paying those temporary contractors at the end of the working week. If you’re a recruitment agency competing for a slice of the summer temp pie in a big city, recruitment factoring is one way to stay several steps ahead of the competition.

how the back office solution works

Support When You Need It Most

 

As well as the obvious financial support, invoice funders with experience in your industry are on hand to offer expert advice when you need it most. So you’ll never be left in the dark when it comes to employment or tax questions. Accessing funds tied up in your unpaid invoices means that scaling your business and attracting new clients is a breeze. There’s no waiting around and the issue of late-paying clients is no longer such a headache. If you decide you want to stay in control of your customer relationships – they are, after all, what recruitment is all about – you can opt for invoice discounting instead. This means you’ll still be responsible for chasing customers when their invoice payments become due.

 

It Couldn’t be Simpler with Simply Factoring Brokers

 

It couldn’t be easier to find out more about recruitment factoring – and you’re just in time for temp season! Simply Factoring Brokers has long-standing relationships with specialist funders in the recruitment industry, which means you’ll benefit not only from our knowledge and expertise but also a special discounted rate.

To find out more about how factoring companies for small businesses can help your recruitment agency or if you have any questions about the cost of invoice factoring, get in touch with our team today. We offer free, no-obligation advice. Give us a call on 0330 134 2826, or drop us an email at online@simplyfactoringbrokers.co.uk and we’ll get back to you with some more information.

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Mark Francis

Head of Commercial Finance at Simply Factoring Brokers
Mark has been in the banking industry for 34 years and has an extensive knowledge of the finance sector. He has held various roles within Barclays across business, retail and project delivery and currently heads up commercial finance in the Newport team at Simply Factoring Brokers.