You are in luck. TBOS names our top 5 recruitment back office services which you should be keeping an eye out for on your search…
The process of setting up a new recruitment company involves many steps, so it helps to be able to sit down with seasoned experts who can explain the steps and assist you with them. Formation of your company at Companies House can also be a timely and rather difficult process if you do not know what you are doing. With a helping hand on this, your new agency will be registered correctly with the right shareholders and tax registrations.
A healthy cash-flow isn’t just vital for your recruitment agency’s survival – it can also be instrumental in making your greatest growth ambitions for the company possible. That’s why you will appreciate a reputable company being able to relieve your staff of the responsibility of raising and sending permanent and contractor invoices each day, while still doing so in your agency’s name to preserve its identity in the process.
There’s a lot to take care of as far as your agency’s staff payroll is concerned, including not only basics such as the processing of salaries and the payment of expenses, but also the management of other company benefits, ranging from pensions and company cars to gym memberships and healthcare schemes. In addition, your agency may have its own established method for calculating commissions, so any back office outsourcing specialist that you choose should take the time to understand this and use the same method.
If you are to outsource this crucial aspect of your agency’s operation to external credit controllers, you will want to be confident that they will proactively liaise with clients to collect debts. Funds must be collected from the client in good time to ensure a continual strong cash-flow for your business. Any credit controllers to which you outsource should therefore be diligent in ensuring that invoices are on the payment runs and are paid within the terms of payment.
If your chosen recruitment back office outsourcing experts have already been granted day-to-day access to your bank accounts, invoice finance accounts and invoicing, it is recommended to entrust them with your agency’s bookkeeping, management reporting, VAT returns & Year End Accounts. When you choose the right people to perform such duties, your agency will have the assurance of knowing its books are be kept up to date, with any payment or transfer issues being resolved almost as soon as they arise. There is also the added benefit of having your complete back-office and accounts processes under one roof.
HOW TBOS CAN HELP
Using one total back office solution from TBOS covers everything you need for your contract and/or permanent focused recruitment business. Our solutions are 10 years industry proven, whereby independent recruiters and existing agencies can pay-per-placement they make, giving them the freedom to focus their complete efforts on making placements and growing their business.
- Unlimited Credit Checks
- Timesheet Management
- Invoicing (UK & International)
- Invoice Finance Management & FREE Reviews
- Management of Agency Payments
- Candidate Payroll
- Credit Control
- Management Reporting
- VAT Returns
- Intermediary Reporting
- Year-End Statutory Accounts
- Telephone & Email Support
- Staff Payroll & Commissions
- Full-Contract Administration Service
Many recruiting professionals continue to enjoy our comprehensive back-office service and the significant savings they receive by outsourcing, feel free to take a look at our testimonials page here.