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What are the key advantages of using recruitment finance

Published on 6th March, 2023

As a new temp recruitment agency owner, funding your business may well be a key concern. The right recruitment finance solution can give you a competitive edge from the get-go and enable growth at a pace to suit you. The meticulous management of cash is crucial to ensure that your agency remains viable.

How invoice finance for recruitment works

Invoice financing is a process for you – as the recruitment agency – to borrow money against what customers owe you. Enabling you to receive most of the invoice cash value straightaway, rather than waiting a matter of weeks or longer to get paid.

So as your turnover grows, so does the level of finance to cover it, offering complete flexibility. Often a credit control function is also provided within an industry specific funding solution, ensuring debt is managed thoroughly from the first day.

Selecting the right recruitment finance company

Choosing an industry specific, experienced financial provider can provide essential knowledge, processes and assurance from the off. As a start-up, your time then can be best placed focusing on the agency and growing a successful agency.

What can be gained by recruitment agency funding?

• Healthy cash flow – bridging the gap between invoice payments and ensuring weekly payroll is maintained. Late customer payments and bad debts can ruin a business
• Peace of mind – workers are paid correctly, on time every time
• A cost saving solution – no need to employ internal staff dedicated to invoicing, credit control and back office functions
• Debt insurance – a safety net, protecting you and your business
• An affordable solution – the cost of accessing such funding has fallen considerably over the years
• Less stress and worry – matters are dealt with by the funding provider
• Increased time available – to grow your agency, reinvesting in operations
• A flexible solution – enabling you to grow your business as you want to, accessing only those funds that are required, when needed
• A software platform – often gaining access to a software facility to manage the rest of your agency efficiently
  
  

How we can help?

At Flo, our CashFlo recruitment invoice finance product is designed to offer clients a really practical, reliable finance solution. To meet the ever increasing cash flow demands of your agency business and to make sure it’s fully in line with our guarantee, to make the work lives of our clients easier.

Our services can be tailored to meet the very specific needs of your circumstances. Our online portal allows all time-and-charge data to be held on the system and easily approved by your client. Our expert team will support you in collecting payments due, providing online reporting and management information too. 

What our customers say

” By reducing the stress and worry of cash flow, payroll issues, invoicing and agency software, we have been able to confidently grow our business through the flexible approach that Flo have demonstrated to us. We are happy to recommend Flo Backoffice’s solution to any recruitment agency and we look forward to continuing our relationship with them over the coming years.”

Adele Smith, SAS Personnel Ltd t/a Coast2Coast Care

Flo can support with recruitment software, funding, back office, and all the services needed to help you grow your recruitment business.

If you would like to learn more you can contact us on 01827 438065 or send us a message here.