Our recruitment finance solution is essential for any growing recruitment agency. It is split into four main elements:  

Today we’re going to talk about the last, but certainly not least, aspect of recruitment finance. We’ll explain what credit control is, how it works, and why it’s key for both new and well-established recruitment companies.  


The Importance of Credit Control 

In any business, cash flow is king. After all, if you don’t have the money to keep the lights on, you won’t last long in any industry. This is especially true for temporary recruitment agencies. Your primary goal is to pay your temporary workers on time, every time. Keeping your cash flow consistent is the best way to ensure everyone is paid when they should be.  

Credit control also helps with bad debt protection. You shouldn’t be held responsible if your clients are going through financial difficulties, so our service ensures that it won’t backfire on you if they’re struggling.  


Improving Customer/Client Relationships with Credit Control 

With us, you get a dedicated credit controller assigned to you. They will know your business inside and out from day one, providing the perfect midpoint between you and your clients.  

As an extended part of your business, your credit controller will understand how you wish to approach your clients. Maintaining a good relationship with them means that they’ll continue to work with you in the future. This in turn improves your reputation, and soon this reliability will make you the go-to provider for temporary workers.  

If your invoicing and cash collection are both done smoothly, this also helps your relationship with clients. Your credit controller will understand each client’s invoice and payment process, so it will be seamless every time.  

Finally, good communication is the best way to stay on good terms with your clients. If they can contact you with queries at any time, via your credit controller, and vice versa, it minimizes any frustration and helps to build trust.  


The Process of Credit Control 

We complete credit checks on all of your clients. This involves extending credit to those with the ability to pay and agreeing terms. Then we monitor the risk whilst ensuring payments are made to the set terms. We keep you in the loop, so you’ll know if there are any issues before they affect you. And if you need bad debt protection, we’re here to help.  

Chasing payments is a hassle that you shouldn’t have to deal with while running your business. We handle this for you, keeping your cash flow consistent while you focus on what matters most.  

If any debt is owed, we collect that in an efficient manner, doing whatever we can to keep borrowing costs low.  


How Credit Control helps Recruitment Agencies  

Not all recruitment finance providers include credit control as part of their service. We find this surprising, as protecting our clients from bad debt, helping them chase payments, and improving their relationship with customers is a crucial service that no recruitment company should be without.  

Of course, this is only part of the service we provide. To find out more, please get in touch, or read our other blogs for in-depth explanations of how we help you.