Dedicated finance solutions for recruitment agencies & labour hire!
Paying staff wages weekly is a challenge for any growing recruitment & labour hire agency.
Your clients on the other hand pay 30 to 60 days, sometimes longer. If your recruitment agency is growing then you are going to encounter serious problems, your expenses will get ahead of your revenue and your cashflow will dry up very fast.
The best way to solve this is to take advantage of debtor finance. Debtor financing improves your cash flow and provides cash to pay wages and other expenses.
Selecting the right debtor finance option!
Available are two debtor finance solutions that will help recruitment agencies and labour hire firms. These provide similar benefits but are designed for different types of agencies.
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Invoice factoring: best for smaller agencies. This is based on individual invoices. It provides agencies with funding and collections services.
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Invoice discounting: this is generally for larger agencies & labour hire companies. This option processes invoices in batches. Agencies perform their own credit and collections.