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 […]

How to Start The Payroll Factoring Process

You’ve completed a TemPay application for temporary payroll factoring, been approved, and are ready to begin your funding relationship with TemPay. Now what? Here are the 3 steps to get your company ready for your initial payroll funding: TemPay’s processing department will advise you on our process and procedures and how to send your payroll/billing requirements to […]

Full-service versus money-only payroll factoring

Most factoring companies offer two payroll factoring options: money only and full service. Money-only factoring is strict payroll funding without any additional services. With full-service factoring, the factor provides administrative support, including filing payroll taxes, sending invoices, paying temporary employees and making collections. Both options have their merits, and your choice depends on your staffing […]

Why your payroll funding strategy can help – or hurt – your marketing efforts

Investing in marketing initiatives such as social media, direct mail and paid advertising can help your staffing firm move the needle on building your client base. But if you’re trying to keep costs in check, marketing is often one of the first investments that gets cut from the budget.   Want to make marketing a […]

Limitations of Bank Payroll Funding

When you’re starting a staffing agency, a bank is often the first place that comes to mind when you’re looking for payroll funding. However, just because banks are the traditional means of finance doesn’t mean they are the right option for your business. There are several downsides to bank payroll funding.   It takes time. […]

Should You Stay or Should You Go? How to Deal with Difficult Clients Without Losing Your Cool

If you run any type of business you’ve probably had at least a few clients or customers that give you a knot in your stomach when you see their email pop up in your inbox or their phone number flash on your caller ID. They’re the “problem clients.” They never seem to have a good […]

5 Ways to Manage Your Temp Agency Payroll

Managing temp agency payroll is one of the biggest tasks of your staffing firm, and it can be a complex and time-consuming process. Here are five tips to make it easier. 1. Evaluate your processes. Talk to employees to determine what works and what doesn’t. Are you diligent about paying taxes but spending a lot […]

Winning strategies to reduce invoicing hassles

Nothing can hurt your company faster than slow payment or nonpayment, but you can’t waste your accounting department’s time begging clients for money. A good payroll financing strategy can help save your company from cash flow crunches. Payroll financing is one of several strategies that can help you reduce invoicing hassles. Here are a number […]