While both payroll factoring and accounts receivable lines of credit deal with accounts receivable, they are, in fact, two different types of staffing agency finance. • With factoring, staffing agencies sell their accounts receivable invoices for a fee to obtain immediate cash, and their clients then pay the factor. • An accounts receivable […]
Brian Keuper has returned to TemPay following a year of working in-house for TemPay’s largest client. Brian is senior vice president of credit relations, responsible for the credit and collections department and maintaining client relationships. He has more than 30 years’ experience in credit risk management. TemPay is very pleased to have Brian rejoin the company.
Choosing a payroll funding source is much like choosing a pair of shoes: You need to try each one on to determine whether it’s the right fit, because all are not created equal. So how do you decide which firm is right for you? Seek advice from your peers. Ask others in the industry […]
While payroll funding is a huge part of every staffing firm factor’s business, it’s not the only service a factor provides. Factors offer a type of staffing agency finance called payroll factoring. With factoring, staffing firms sell their accounts receivable invoices for a fee to factors and gain cash up front to pay their employees […]
The market has been ripe for those interested in starting an employment agency for a while now, and the outlook only continues to improve. In the three years since the end of the recession, the U.S. staffing industry has created more jobs than any other industry in America, according to the American Staffing Agency. Bureau […]
While people often make personal New Year’s resolutions, making them for your business is just as, if not more, important. Here are five resolutions staffing firms should make in 2013, according to C. Adam Forbes, president of BaronHR. 1. Know when to say no. Staffing firms are presented with a lot of opportunities for […]
In the 1980s, TemPay President and Founder Larry Holstein owned a permanent staffing firm. Through this experience, he became familiar with the payroll funding needs of staffing agencies and decided to start a business that would provide quick and easy payroll factoring for these companies. Holstein founded TemPay in 1994. The business now serves about […]
Looking for more places to find information about staffing? Check out our useful links page, which includes everything from the U.S. Small Business Administration to Essential StaffCARE, which provides health insurance for temporary employees. And, as always, don’t forget to continually check our blog, which provides helpful staffing firm information from A to Z, including information on how to start a […]
Bypassing labor laws, even to deal with a staffing crisis, is a dangerous situation. A single instance of overlooking the law could be enough to get your firm in serious trouble with the federal government. Penalties for failure to comply may include the payment of back wages and can progress to steep fines, prosecution […]
If you have clients that are slow or late paying, you can improve staffing company cash flow by holding customers to the pay terms set in their contracts. If a customer doesn’t adhere to the terms, it is important to be proactive. Contact your customer for status on the payment, and consider increasing your bill […]
