Recruitment finance benefits a wide range of businesses; for temporary staffing agencies it’s essential. There are many reasons why this is the case, so let’s go over them one at a time, and explain how Back Office Support Services can help your company grow.

1. Improved Cash Flow for Staffing Agencies

Starting with one of the most important benefits, finance for recruitment agencies can help improve the cash flow for your staffing agency.

We ensure that the temporary workers you provide are paid on time, every time without the worry of waiting for payment from your clients. This means that you can keep track of your overheads more easily and develop a clearer picture of your cash flow. With this in mind, you can reinvest extra funds into your business.

2. Improved Efficiency for Staffing Agencies

Efficiency is a key part of running a business. Any bumps in the road not only disrupt you and your business but often end up costing you money. Paying your temporary workers is no different.

By using our recruitment finance solution we handle everything for you. No matter what form the time sheets are in, we will process them and ensure all workers are paid on time. Not all recruitment finance providers do this, instead requiring input via existing systems. If information isn’t complete, it can lead to costly delays.

This keeps workers and your clients satisfied. Speaking of which…

3. Improving Client Relationships for Staffing Agencies

The relationship between a staffing agency and their clients’ needs to be carefully nurtured. Trust is an important part of the recruitment process, so any way to improve relations shouldn’t be ignored.

If temporary workers are always paid on time, and your invoice finance is fluid, clients will trust you and your team more than ever. When it comes to credit control, we need regular contact with your clients, chasing payments in a professional manner. This means that the relationship you have with your clients will be maintained

4. Fluid Administration for Staffing Agencies

With Back Office Support Services, you have two points of contact: your payroll account manager and your credit controller.

Both will know your operation, and your clients’, inside out, leading to fewer errors and a more trusting relationship.

5. Regular Reporting for Staffing Agencies

Another benefit your dedicated payroll funding manager provides is regular reporting.

Containing a breakdown of billings, cost of sales, deductions, our fee, and the margin payable.

These reports are concise and accurate. Your payroll manager will always be easily contactable if you have any questions.

6. Bespoke Solutions

Many recruitment finance providers work with staffing agencies, but often only provide ‘off-the-shelf’ solutions. These look great on paper and can work for some companies.

However, if you’ve had issues with your current finance provider, or are struggling to do it in-house, you’ll have specific requirements.

We offer bespoke solutions that are tailored to you. By meeting with you, we find out more about your operation and the sector you work within, and how we can best work together. We also have experience with a wide range of sectors, with an in-depth understanding of how many operate, which we use to help you.

7. Promoting Growth for Staffing Agencies

The world of recruitment is a competitive one, especially for staffing agencies. Consistent growth enables you to keep up with your rivals.

Recruitment finance solutions can help you grow, by supporting you and the temporary workers you source and provide. By optimising your cash flow, you’ll also have access to more funds that can be reinvested into your business.

Recruitment Finance for Staffing Agencies

For all the reasons we listed, recruitment finance is essential for a temporary staffing agency. Back Office Support Services provide personalised recruitment finance support that suits your needs, and the demands of your sector. This in turn helps you grow and improve your relationships with clients.

For more information about our service, please get in touch.