If you’re running a new business or have grown quickly in a short space of time, there’s a lot of pressure on you to find finance support fast. This often leads to recruitment businesses using finance support services that work but don’t offer ideal solutions.

Whether it’s slow response times, errors, issues with invoicing, or anything else they should be helping with, their services can cause more headaches instead of streamlining the payment of temporary workers.

Back Office Support Services are the no.1 choice for recruitment companies looking to change their finance provider. In this blog we’re going to explain how to switch finance providers, and why so many recruitment companies have decided to switch to us.

Switching Recruitment Finance Provider

When your current recruitment finance provider isn’t working for you, it’s time to switch to one with a superior service. However, this isn’t a decision to take lightly. There are a number of things to consider before you switch:

  • Your current finance provider
  • The finance provider you’re considering switching to
  • The impact on your clients and workers
  • The transition from one provider to another
  • Protecting your businesses

Let’s break those down in more detail.

Firstly, the recruitment finance provider you’re already using. Naturally if you’re looking to switch it means you’re having issues with your existing services, or you think there are better solutions for you and your clients and workers.

But it’s important to understand any prepayment penalties or termination fees you may incur from your existing provider if you decide to switch.

Here are some other reasons why your recruitment finance provider might not be benefiting your business:

  • Reliability – If you can’t trust your supplier to do what they should be doing, it’s time to consider a new provider.
  • Accuracy – Errors in invoices can be damaging to both you and your clients. Even something as simple as a typo in an email can cause accuracy errors.
  • Slow Payments – When you rely on temporary workers, paying them on time, every time, is key to keeping your business running smoothly.
  • Inflexible Services – Ideally your finance support provider will have services that adapt to your needs and the individual requirements of your clients and workers.
  • Reporting and Communication – Nothing is more frustrating than being out of the loop. Clear communication and regular reports are a key requirement of recruitment finance provider.

If you’re suffering from any or all of these issues, switching recruitment finance provider will get you back on track.

Why Choose Us?

Back Office Support Services are reliable and accurate, with flexible services that adapt to suit you and your clients and workers. We provide weekly reports and regular updates to keep you informed, and mostly importantly, we pay you and your workers every Friday without fail.

Now, many finance suppliers claim that, but that’s where their services end. Back Office Support Services go above and beyond.

We pride ourselves on offering peace of mind to the companies we work with. Running a recruitment business is fast paced, so any way to help streamline your processes so you can focus on more important things, and not worry about invoices and payments, can help you grow your business.

By focusing on the details, we ensure that there are no issues with accuracy. As a bonus we manage all deductions and documentation, giving you one less thing to worry about.

How Switching Finance Provider can Impact Clients

When switching finance suppliers, it needs to be done in such a way that has minimal impact on you and your clients. Just like with hiring new personnel, building a trusting relationship with your new provider can take time, but we make sure it takes as little time as possible.

We provide an expert payroll manager who works directly with you. There’s no fighting past secretaries or getting passed around from person to person. They get to know you and how you operate your business, so the support they provide is tailored to the needs of you and your clients.

This comes in especially handy with our credit control services. Minimising the impact of bad debt takes tact and diplomacy, with a good understanding of the relationship between you and your client – as well as picking up queries, not letting debts drift, and avoiding cash flow problems.

With Back Office Support Services you get a dedicated credit controller who gets to know you and your business and manages your clients effectively to maintain your working relationship.

By switching seamlessly to us, you’ll have minimal interruptions to the workflow, and no invoices or payments will be missed. We can also guide you through the switching process – ensuring there are no legal issues regarding the financing agreement you’re moving on from. We’ll review our agreement with you, ensuring that every aspect is explained in detail.

The Switching Process

Switching recruitment finance provider can be done in four simple steps:

  • STEP 1 – Provide us with the details of your customers and we’ll agree a credit limit.
  • STEP 2 – Inform your current provider that you’re moving on.
  • STEP 3 – Set your transfer date – there are no fees for buying out the sales ledger!
  • STEP 4 – Your credit controller will tell your customers about the switch the next day.

 

Don’t just take our word for it!

Many of the companies we work with switched to us from existing providers and were more than happy to share their experiences.

Here are their success stories.

If you aren’t 100% satisfied with your existing recruitment finance supplier, it’s time to switch. To find out more about us or any of our recruitment finance services, please get in touch.