All the indications are that recruitment companies are growing again.
We work very closely with this industry sector and we are extremely well versed in the issues recruiters face, particularly in the areas of invoicing, cash management and payroll. Margin and cash flow are everything and we have spent a lot of time developing systems to free up your time and save you substantial amounts of money. You may well already be outsourcing some of your administration; perhaps you are using an outsourced payroll provider or umbrella payroll company and whilst the improved margin is helpful, the added cash flow burden it brings isn’t. This is where we can help.
Whether you run a busy perm based agency or combine both perms and temps, you need to invoice your clients promptly and accurately and then credit control your ledger to ensure timely payment. A lot of recruiters will use a factoring or invoice discounting facility whereby you will upload your invoices to your chosen provider and receive an advance of payment to aid your cash flow. These facilities in themselves are not as simple as they may seem and often the costs are hidden until your year end. It’s hard not to rely on these types of funding services, but you can make sure you get the best out of your provider and this is where we come in.
Improved Cash Flow and Profit
In every case so far we have not only improved cash flow but created significant savings for our clients by outsourcing some of the administrative burden. In the case of Temporary Staffing Agencies payroll management is an essential aspect of the business, but it’s also an area in which significant savings can be found without disrupting your business in any way, shape or form. We can run all aspects of your payroll for you at a fraction of the cost.
If you are considering an Umbrella Payroll solution but are unsure about the advantages and disadvantages, then why not have a chat with us? We can guide you through what might seem like a potential minefield. Without doubt this is the best route for some companies and it can not only free your business from the cost burden but also create some excellent tax savings, thereby enhancing your bottom line and margin.