Factoring companies often offer their own payroll services for recruitment companies which we feel is the safest option for the recruiters that wish to outsource everything to one company as we can’t see the point of being financed by a company who will be using your sales invoices as collateral for their own factoring facility when you can go straight to source.
Although factoring seems to be a simple operation there are operational differences between the various factoring companies which in some cases are fairly profound. Additionally and potentially more problematic is the fact that the service offered by some factoring companies isn’t as good as they would like you to think with very poor service levels on offer.
Not only does the credit control vary from factor to factor many of the factoring companies actually outsource the payroll to a third party and there are only one or two that actually handle it all in house which we feel is the best option.
We summarise the options on the final page when we discuss the various factoring recruitment solutions
Factoring Recruitment Solutions