Understanding Recourse and Nonrecourse Factoring Services for Staffing Firms

Most staffing agencies choose payroll factoring as their type of staffing agency finance. With factoring, staffing firms sell their accounts receivable invoices for a fee to the factor and gain cash up front to pay their employees and other parties. There are two different types of factoring. Recourse – With recourse, the staffing firm assumes […]

How should I communicate the role of my payroll factor?

Staffing firms have credit constraints due to a variety of reasons, including personal credit problems, start-up business costs, low margins or no working capital. In those situations, they turn to a payroll factor to provide the necessary financing for weekly payroll and other expenses, such as workers’ compensation insurance, office equipment, additional office personnel and […]

5 points to cover in your staffing agency business plan

Your staffing agency business plan is your blueprint for success, whether you are starting a staffing agency or planning for expansion. Not sure where to start? Here are the five key points to cover when creating your staffing agency business plan. Write your elevator speech. You should be able to describe your new company to […]

How Factoring Can Help with Accounts Payable

In a perfect world, you would send an invoice to a client and the client would send you a check upon receipt. But in reality, it hardly ever works that way. Instead, you send an invoice, and it could be 30, 60 or even 90 days before you get paid, which can make it difficult […]

Why staffing agency software isn’t just for large firms

Staffing agency software is designed for today’s staffing agencies — regardless of the number of your employees, the amount of your revenue or the complexity level of your day-to-day operations. It can be tempting to think that smaller firms, with fewer clients and employees and more manageable workloads, can get by with a traditional paper-based […]

Tech tools to enhance your workplace productivity

Today’s ever-changing office technology can increase productivity and allow your people to keep their focus on the activities that matter most. Alternatively, new tech toys can be a distraction and time drain. The only way to know for sure the impact technology is having is by starting from a viewpoint of what you’re missing in […]