Recently TBOS has been approached by multiple agencies who over the past year have lost their financial controllers and struggled to recruit staff who can handle the work involved in running their back office functionality and who they trust to handle the cash-flow responsibilities.
We have found that all the agencies in question have the same troubles hiring experienced accounting staff who have a full understanding of the way that recruitment agencies work and be able to handle the daily management of the contractor invoicing and payroll functionality. The time it takes for the new staff member to get up to speed with the company processes means that debt levels have grown, client/contractor issues have increased and impacts on profitability and cash-flow have ensued.
The agencies have all mentioned that during the integration process all or some of the directors have been distracted from looking after the recruitment and sales process to ensure that the finances and statutory requirements are being managed correctly. Also, with new staff members comes the issue of security and trust on the company bank accounts so the Directors are often called into managing the bank account and payment authorisation.
TBOS has become the solution they have all been looking for and ensures continuity of service on the back office functions. As we have the experienced back office and accounting staff, secure processes and in-house software and facilities set-up, this makes us an easy choice to provide a continued service should a senior member of the finance team leave.
As TBOS provides a full back office and accounting function we can also be a perfect replacement if you are looking for a new accountant who understands the complexities of presenting agency figures and providing reliable advice on growing and developing your recruitment company.
If you are interested in talking to TBOS about how we can help manage the back office and accounting functions of your recruitment agency then please do not hesitate to contact our office