KUB

KUB Search Term: recruitment funding

Looking to bridge the gap between funding wages and being paid by customers?
The recruitment industry, by its nature, requires finance to bridge the gap between the funds required each week to pay staff, and the funds received from business customers paying on longer credit terms.

For small and medium agencies, those seeking start up funding or funding rapid growth, this usually involves invoice factoring. This however only solves part of the problem due to the restrictions applied by traditional factoring companies, and for recruitment agencies working in some sectors even restricted finance is not available.

In addition to requiring funding solutions, agencies carry a considerable administrative burden with payroll and payment systems, now increased by changes in regulations requiring holiday pay etc., with a further need to keep up with a rapidly changing legislative environment.

Bridging the Gap
The administration requirements and tight finance absorb a considerable proportion of the available time on essential but non-productive activities, restricting the growth and profitability potential of many agencies in the industry. Previously available solutions provided partial solutions and required a number of different suppliers often with incompatible or unreliable systems.

How does it work?
Our system offers an integrated solution to both the funding and administration problems faced by the recruitment industry, and because it is aimed solely at the recruitment industry it can offer a more flexible range of solutions within its specialist area.

Developed by a professional team from the recruitment, finance and recruitment support industries, the service offers a higher level of funding, and an easy and reliable service to allow recruitment professionals to concentrate on their core revenue generating opportunities.

The finance package:

• 100% advance against invoices
• Flexible credit terms
• No minimum fees
• No long term contract
• No deposits or restrictions relating to customer mix (concentration limits)
• Funding for permanent placements
• Settlement within 24hrs of submission of time sheet

The support package:

• Fully automatic secure web based service, able to use hard copy and electronic time sheets
• Full time sheet validation
• Full payroll service including:
• Payslip production and dispatch by post or e-mail to candidates
• Payment by bacs, cheque or cash, 48 hrs from time sheet submission
• Able to handle PAYE, self employed and CIS for construction industry
• Candidate payroll help line
• Preparation of PAYE and NI data
• Invoice preparation and dispatch, hard copy and electronic format
• Credit control
• Insured debt options
• Full training using our own staff, with on going help line and on site support
• Nominated customer support agent for each client
• Preparation of records for holiday entitlement etc.
• Secure candidate access to own data on website
• Management data available via secure website access

How we have helped others
Provision of funding to a start-up agency providing temporary driver. All payroll and administration functions handled, allowing the owner to concentrate on business development.

Provision of funding to existing agency, releasing £23,000 more funding than existing supplier, and saving cost overall by taking over payroll, invoicing functions from an agency.

By out sourcing payroll, invoicing etc agency supplying office temps turned a fixed in house cost to a variable cost, released additional funds and made an annual saving in costs of £7000.

Agency supplying staff to construction industry received 100% advance against invoice as opposed to 60%, and for same service fee received payroll and invoicing services as part of the Rec Support service.

Finding out more
Call now on 01925 755638 or email on help@kub-uk.net to arrange a meeting at no obligation to discuss how to find funding for your business.

Please quote KUB as a reference when you call.

About Unique Consulting Services Ltd
UCS provides a range of innovative finance and related solutions to develop business potential. The services include planning, funding, and improving business performance and profitability, and deliver practical and deliverable solutions.

Contact Information

Principal Consultant: Trevor Edwards Company: Unique Consulting Services Ltd Telephone: 01925 755638 Email: help@kub-uk.net

Has this page solved your problem? Call 0845 053 7417 or email help@kub-uk.net if you would like somebody to listen to your problem and then find an expert who is reputable, impartial and independent to help you resolve it.