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• 17 Apr

  Help For A Large Temporary Recruiter That Had Outgrown Their Existing Invoice Finance Company

  

  Outgrowing your existing suppliers can be a good thing when you are rapidly expanding a business. In this case study, we were able to help a rapidly growing temporary recruiter who felt that they had outgrown their existing invoice finance company and needed help to finance the scaling of their company.

  Help For A Temporary Recruiter That Had Outgrown Their Invoice Finance Company

  In this case, our client was using an invoice financing company that provided both finance and outsourced credit control. Our client told us that they were finding the current service very expensive so they wanted to make some cost savings. This is something that we specialise in finding for our clients. Clients are often surprised to learn that the charges vary dramatically between different invoice financiers.

  A Substantial Funding Line From A Well Respected Invoice Financier

  We introduced them to a well-respected invoice finance company that was able to provide them with a substantial funding line. Our client wanted to continue to outsource their credit control activity, as they thought this would be the most cost-effective. The finance company were able to handle this aspect for them as well.

  Recourse Factoring

  A recourse factoring arrangement was established that will deliver the combination of working capital finance integrated with a comprehensive credit control service. This is often popular with recruitment agencies as they want to get on with finding new customers and placements, rather than dealing with chasing up unpaid invoices.

  Excellent Reputation

  In this case, the provider introduced has an excellent reputation as both a financier and a provider of outsourced credit control. Outsourcing services such as credit control can cut down on the number of staff that a business needs to retain. Credit controllers can be expensive and there is often a financial case for opting to outsource this function.

  Raising More Working Capital 

  If you are growing quickly and want to raise more working capital, take a look at our free Guide To Working Capital. It explains how working capital functions in a business, ways to boost it and external financing options.

  By Glenn Blackman