Advantages of Payroll Funding for Staffing Companies

Being the middle man can have its disadvantages, especially if you’re a staffing agency. The payment structure that makes staffing agencies profitable – invoice for services – causes delays in payment processing that can make it difficult to pay employees on time. However, there are organizations that specialize in payroll funding for staffing companies that […]

3 signs your startup is burning cash too quickly

Money is the lifeblood of your young company. Whether you’ve stockpiled Series A funding, solicited friends and family loans and investments, or used your own life savings, going through it too quickly will add to your stress, causing you to make hasty decisions for short-term gains and maybe even start your company’s death spiral. Here […]

How to develop new revenue streams and increase profits to grow your staffing agency

Growing a staffing agency in a challenging economy can make for stress-filled days and restless nights. However, there are ways to introduce new revenue streams, generate additional revenue and keep more of the income you do bring in to your growing staffing agency. Here are some tips. Expand your placement offering. Permanent placement can be […]

How to protect your staffing firm from fraud through better hiring practices

Your reputation rests on the honesty of your talent. Your clients hold you responsible for the deeds or misdeeds of the talent you send them. You’re the gatekeeper, the bouncer at the door, and your staffing agency’s reputation depends on the behavior of the workers you send to your clients. Here’s how to be confident […]

5 ways to improve staffing company cash flow

Cash flow is the bane of every staffing firm’s existence. In an industry in which employees and vendors are often paid weekly, customers can take 30, 45 or even 60 days to pay, creating a cash flow gap.   Consider these five ways to improve your staffing company’s cash flow.   Decrease payment terms. While […]

The 3 Best Sources for Temp Agency Payroll Funding

Ebb and flow is nature of the staffing industry. When demand for services goes up, agencies need cash flow to fund temp agency payroll and fill positions quickly. When it drops, they also need working capital to be available to shore up operations when demand rebounds. Whether you’re starting your own staffing agency or looking […]

Ask TemPay: How Can I Maximize Profits?

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 […]

Why Choose TemPay?

TemPay brings more than 20 years of experience in the temporary staffing industry. We manage staffing company cash flow and payroll funding, a huge benefit in an industry where employees must be paid immediately and customers may take 30, 45 or even 90 days to pay. TemPay has two major services: our money-only factoring solution or our full-service back-office […]

TemPay Payroll Factoring Fits Your Needs

One of the biggest challenges faced by staffing firms is managing cash flow efficiently because employees need to be paid weekly but payment from customers is typically 30, 45 or even 90 days away. TemPay helps you clear the cash flow hurdle with its payroll factoring and related services. TemPay provides financial backing and support, […]