TBOS is contacted on a daily basis by new start up or existing recruitment agencies regarding our services and how we can potentially help them with their back office, funding and accounting needs. We recognise that an agency should and will contact multiple suppliers within our niche industry to discuss the services offered to then decide on which company to use.
Unfortunately, recently we have found that some of the prospects contacting TBOS have raised odd questions as they have been told some untruths by our competitors during the sales process. TBOS has been happy to correct the misinformation given; however, it’s left a sour taste in our mouth that our competitors have decided to bad mouth our service rather than concentrating on their own offering’s strengths.
One of our recent prospects reported “They said you would own the turnover of my company” which couldn’t be further from the truth. The invoicing under our TBOS Complete model is sent on the agency’s headed paper, funds are paid to the agency’s invoice finance/bank account and everything is based on the agency’s terms of business. Even when using our TBOS Freedom model the agency is a party on the contract therefore they can journal the turnover into their books.
Another agency said “I was told I have to give TBOS some of the profit If I sell the company” – again this is completely untrue as TBOS does not assume directorship or become a shareholder of any of the agencies we look after as we are only the back office and accounting provider for the agency.
Another prospect was shown comparative calculations on our TBOS Freedom model to their pay-and-bill model with a 4% charge instead of an interest rate of 3.5% above the Bank of England base rate. This meant the interest calculation was coming out at £400 per month when borrowing £10,000 instead of £32.88 when borrowing for 30 days.
Hopefully the majority of prospects will ensure that they double check these facts before acting on the word of such competitors and we hope that the merits of the service provided are the main selling points not the bad mouthing in order to win a client.
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.