How an Invoice Finance Restructure Could Save You Money

Since 2005, Asset Resourcing Limited has been established as a recruitment agency based in Harpenden, providing permanent and contract staff to the IT, accountancy, and clerical industries.

It was not until 2012 that Asset Resourcing were introduced to TBOS by Recruiter Hub, and following an initial meeting it became apparent that the directors, Ben Sweeting and Michelle Scott, needed to outsource their back office functions so they could concentrate on developing their staff and not be distracted by dealing with invoicing and accountancy issues.

“Every evening I was going home and having to spend a further 2-3 hours raising invoices, setting up payments and sending credit control emails but thankfully now that we have passed this to the team at TBOS I can now have more time with my family” says Ben.

Another aspect that TBOS raised with Ben and Michelle was the funding model they were using was expensive for their needs as their contractor base grew. The facility was a pay and bill solution which was based on a percentage of their invoice turnover and as their new contractor base had higher charge rates the costs were increasing and impacting on their margins.

Ben said “TBOS quickly identified the costs we were paying the pay-and-bill provider were expensive and once they obtained a quotation and presented the figures (including their costs) we were pleasantly shocked to find that they could make a saving to Asset of over £600 per month. TBOS also managed the setting up of the new facility and ensured a smooth hand-over so that our clients and candidates noticed no disruption. The facility has now been running for several months and by using TBOS we are able to concentrate on training our new staff, satisfied in the knowledge that our back office is being looked after.”

Asset Resourcing Limited is continuing to grow their agency in 2013 and have recently moved to larger premises in Harpenden and are planning on taking on more recruitment staff. Ben and Michelle’s target is to continue to grow Asset Resourcing’s contractor base and increase their permanent revenues.

For more information about Asset Resourcing, please visit their website at www.AssetResourcing.com