Ensuring candidates are paid on time is mandatory for an agency so getting the right finance in place is vitally important which is where TBOS can help
There has always been the need for invoice finance within the recruitment industry as contract and temp placements require the agency to pay the candidate before the client makes payment causing a funding requirement.
Arranging invoice finance however can be a minefield as there are various products on the market being provided from a range of Banks and Invoice Finance companies.
Whether you require a Factoring or Invoice Discounting solution can depend on how much work you want to put into the arrangement but the costs between the two products can be very significant.
Deciding if you should be insuring your debtor book which can be provided as part of the invoice finance arrangement is another consideration but at a cost.
Lastly ensuring that the invoice finance company can provide all the services you require such as currency/international funding, permanent invoice funding and adequate credit control.
TBOS has a great deal of experience setting up and managing invoice finance facilities for recruitment agencies. TBOS also has relationships with a number of invoice finance providers including banks and invoice finance companies and can get preferential rates to ensure the costs meet your expectations.
TBOS can help recruitment agencies of any size turnover to provide the funding they require with the following services:-
• New Start Up Recruitment Agencies looking for their first invoice finance arrangement
• Permanent Recruitment Agencies looking for funding on their permanent placements or their first contract placements
• Existing Contract Recruitment Agencies looking to review their existing arrangements
As TBOS has a wealth of experience in these products we can ensure the service we set up is the right one for your recruitment agency and at the right price.
Some of the services TBOS can arrange with its providers are as follows:-
• 90% funding on Contract placements and 65% on Permanent placements
• Funding in over 200 countries and in 15 different currencies
• Minimal Set Up Fees