Benefits of Temp Employment and Staffing Factoring
Staffing agencies, recruiting firms and similar companies (nurse staffing agencies, security guard services, etc.) face a similar cash flow challenge in that they often have to pay out a significant amount of money in salaries and fees to employees before receiving payment from the employers and clients that utilize their services. An agency may outlay thousands of dollars for recruiting and run multiple payrolls before a client invoice is even issued, depending on their payment terms.
Invoice factoring can provide a staffing agency with immediate access to the money your customers owe, without waiting for them to pay. It’s a common financing and cash flow management tool utilized by:
- Staffing agencies
- IT staffing agencies and consulting firms
- Security guard agencies
- Nurse staffing agencies
- Temporary employment agencies
- Other B2B service agencies and consulting firms
Staffing factoring enables agencies to meet payroll and operational expenses while still enabling them to extend favorable terms to clients – which can be a competitive advantage over competitors who cannot extend long payment terms.
For fast answers, submit our 1-page application for staffing factoring services and we’ll bring you a staffing factoring proposal. You could go from approval to your first funding in hours.