Short-Term Funding Solution for Recruitment Agencies
Total Back Office Solutions Ltd (TBOS) has set up numerous agencies over the years. We realised that there was a large number of recruiters and recruitment agencies who were having trouble funding their contractors. Due to the conventional means of arranging an invoice finance arrangements becoming very strict over the past few years this has meant that many agencies were apprehensive about signing up to 12 month agreements with large monthly minimums and personal guarantees. Often adverse credit or lack of assets on a director's record also hindered the facility being arranged at inception causing agencies to ignore the contract market completely and concentrate on permanent placements only.
For these reasons, TBOS has developed Fund My Contractor which encompasses contracts, invoicing, contractor payments and credit control allowing the recruiter to get on with what he or she does best… sell. Fund My Contractor will ensure that contractors are paid on time and will pass on the profit element minus our fixed charges on receipt of the clients’ payment.
Fund My Contractor can be used instantly and requires no long term commitment as the notice period is only seven days. There are no set up costs and you can place as many or as few contractors as you require due to our charges based on a per week per contractor basis.
Looking after your interests will be our highly qualified team of management accountants, payroll specialists and administrators, who understand the needs of contract recruiters in-depth.
Whether you are an established agency or start-up business, you will find that our services not only protect and enhance your financial position, but will also cut your administrative overheads.
Want to know more? Contact us today or call now 0845 881 1112