If you run a temporary recruitment agency, you’re under a lot of pressure to invest in the right support. Even large, well-established agencies can’t handle all the admin in-house, at least not without it costing you a fortune in manpower.
But because of this pressure to find support fast, a lot of recruitment companies settle for recruitment funding services that simply aren’t good enough.
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 made the switch to us.
Switching Recruitment Funding Provider
When your current recruitment funding 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 funding 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. Or it could be as simple as you want to find a more cost-effective deal.
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 funding provider might not be benefitting 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 and be frustrating for all parties.
Slow Payments – When you rely on temporary workers, paying them on time, every time, is key to keeping your business running smoothly. But if you don’t have the cash flow this will ruin your reputation.
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 funding provider.
If you’re suffering from any or all of these issues, switching recruitment funding provider will get you back on track. But what makes our service so special?
Why Choose Us?
A lot of recruitment funding companies claim to ‘do things differently’, but we’re one of the few that put our money where our mouth is.
Our all-in-one recruitment funding service provides everything that a temporary recruitment agency needs, back up by decades of experience and unmatched reliability. For one single fee you will receive:
If you’re having issues with cash flow, your invoices aren’t accurate, or you just want to build a better relationship with your clients, we’ll make sure your agency has no weaknesses.
We pride ourselves on offering peace of mind to the agencies 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, is beneficial for your business.
By focusing on the admin for you, we ensure that there are no issues with accuracy. As a bonus we manage all deductions and documentation – another thing you won’t have to worry about.
But the question we’re always asked is how switching provider affects clients. So let’s clear that up before we explain how the process works.
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. We make the switching process so seamless that your clients won’t even notice.
This is because we set you up with just two points of contact; your payroll account manager and your credit controller. They’ll be working fully on your behalf, so as far as clients are aware, it’ll be a permanent member of your team that they’ll be in regular contact with. With regular communication and a strong working relationship, your points of contact will feel like an extension of your agency, not a third-party who you can never get hold of.
By switching 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.
But to give you an idea of what that process involves ahead of time, here’s a quick breakdown:
The Switching Process
Switching recruitment funding 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.
It’s that easy! You can provide all the details we need in minutes and then go back to running your agency while we handle the rest.
Switching Recruitment Funding Provider Made Simple
Over the years we’ve met dozens of agency owners who complained about their current providers. They’re either unhappy with the service they receive, the cost, or are doubting if it’s worth the headaches.
Often they know that there are better options available but are concerned about how the switching process will affect their agency. So we’re more than happy to explain that we do it with minimal interruption. Any agency owner that decides to make the switch will be well looked after throughout the entire process, and they see an immediate improvement in efficiency and client satisfaction.
If you’re still not sure if switching is right for you, or if you have any questions about us or our service, please don’t hesitate to get in touch. We look forward to hearing from you!
