| FACTORING FOR RECRUITMENT AGENCIES |
As well as providing a complete service for recruitment companies including; PAYROLL, INVOICING and COLLECTIONS we also offer facilities that provide just finance for Recruitment Companies.
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| We understand the importance of ensuring that your workers get paid correctly and on time. Whether it is for permanent staff, temporary PAYE workers or self employed contractors we will provide the solution that best fits your business. Factoring provides up to 90% of the value of the invoices (including VAT) on the day that you raise them. This means that you will always have the funds available to pay your workers on time.
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Key Points:
- 90% advanced against your invoices (including VAT)
- The balance 10% paid when your customer pays (minus charges)
- We chase invoices for payment and reconcile payments
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Advantages to outsourcing credit control:
- We take the workload out of chasing customers and reconciling payments
- You separate credit control and sales – you’ll never have to ask your customer for money again, only for more business.
- Your account will be managed by a dedicated credit controller and managed by one of the best credit control systems in the UK – no holidays, no sick days.
- Whether you currently manage the credit control yourself or you employ someone to do it you will inevitably save time and money by outsourcing.
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To find out more details of how factoring works then click here.
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| FLEXIBLE COSTS |
There are two charges to our facilities:
- Service Fee – charged as a percentage of the invoice value (normally around 0.5% to 2.5% depending on sales turnover and workload).
- Discount charge – charges on whatever advances are outstanding at any one time (normally 2.5% over bank base rate)
For examples of how these charges work then click here.
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| If you would like a detailed indication of costs then click here. |
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