If a recruitment company is looking for a complete back office solution as well as funding it should be logical that a payroll company that forces you to invoice in their name rather than your own so that they can use your invoices to raise their own working capital is the worst possible option on offer yet a surprising number of companies go down this route not realising that there are much better options on offer.
One alternative is to use a payroll funder that allows you to invoice in your own name as this is more financially secure but there have been problems with unrealistically low credit limits with at least one of the well known names as well as complaints about poor service levels and once locked in it’s often difficult to get out due to the high penalties that are often imposed resulting in many recruiters being trapped in a facility that just isn’t working for them as they can’t afford to escape.
Our preferred options are either to keep the factoring and payroll processing completely separate or else to use the services of one of the factoring companies that not only offer the complete funding and payroll package but actually do it all in house themselves rather than outsourcing the payroll function to a third party.
As the leading factoring broker specialising in recruitment we have relationships with everybody who’s anybody but our preferred factoring company will run your payroll in house, are highly competitive on pricing, have no minimum annual fees and offer service levels that others can only aspire to.
Why not contact us for an informal chat as our services are free of charge and come with no obligation at all and most importantly we only deal with the few factoring companies that actually perform
Factoring Recruitment Solutions