The invoice administration side to recruitment can be a massive drain on resources as you find yourself forever chasing payments whilst trying to keep on top of what's outstanding and what's been paid.
Although recruitment invoice discounting will fulfil your basic needs of getting quick access to capital, those offering invoice factoring take things one step further by incorporating credit control into their service.
Sector specific factoring for recruitment agencies is a great way to free up valuable time within your organisation. Your chosen finance partner will be able to offer a host of bespoke credit control services, from ensuring that incoming payments are made in a timely fashion through to credit checking new and existing clients.
The latter is a fantastic resource as credit checking in itself can be costly and time consuming. You'll have a wealth of information available to you, helping you to decide how likely it will be that a new client pays you on time, as well as indicating how much leeway you should offer in terms of a credit limit.
This doesn't just apply to new clients that you take on. The unpredictable world of business finance means that a company's credit score could fluctuate on a regular basis and you'll want to be aware of any sudden dips in credit score so you can make the necessary adjustments.
At Capitalise, we work with a large pool of industry specific finance partners across the UK, many of which offer both invoice discounting and factoring for recruitment agencies. Our market leading comparison technology can help you to quickly find a company which matches your company's capital needs, all by taking a few minutes to complete some basic details about your organisation.
For more information on how invoice finance can help your recruitment company to grow, fill out a short application today at Capitalise.com.