Finding the right recruitment finance solution is essential, and a complete package designed to fulfil your back office and funding needs can improve and streamline your entire workflow.
How do you know you are dealing with the right company currently and you are the getting the most from them?
1. Is the service up to scratch
Good communication is at the heart of successful recruitment relationships, yet it remains something many could improve on. You should be happy with the customer care received and be at ease with dealing with your current provider.
In recruitment, good systems and processes are vital in helping excellent communication become an integral and intuitive way of working.
2. Does your provider supply a specialist solution
A specialist provider has an extensive knowledge of the recruitment industry, its needs and requirements. A fully insured funding solution can provide you with 100% of gross profit each week, giving you confidence to reinvest and grow your agency.
With a complete back office and funding solution, you should be able to spend minimal time on payroll, invoicing and credit control. Leaving it in the hands of experts reduces the stress of having to worry about financial errors, chasing invoices and frees up your time generally.
You should also have access to market leading software to manage your business effectively. Automating your main administrative processes, saves you both time and money, protecting your data and keeping you compliant at the same time.
Using fully integrated software, outsourced payroll services and a recruitment finance solution can ensure your administrative processes are well managed, plus contractors, temps and staff are paid on time, every time.
3. Does your provider have your best interests at heart
There are many recruitment companies today, and many offer similar products and benefits.
With a suitable provider you should have complete confidence you will have funds in place exactly when you need them, so you can concentrate on what you do best - winning new business!
There should be full debt insurance protecting you and your business with no additional or hidden charges.
If you feel the answer to any of these questions is no, it may well be time to reassess your current recruitment funding provider and consider an alternative, when you are out of your contract period.
Bear in mind though there may be a few conditions that a provider may not accept you as a new account. For example if you have old debt, your new provider may be unable to obtain it or if a client of yours has debt arrears it is doubtful a funder would want to purchase this.