Around the world: What’s happening globally in the staffing industry

If you place your finger on a spinning globe, chances are that, wherever you land, the staffing industry will be in a state of growth.   In 2011, the most recent year for which data are available, there were 46 million people working in a temporary capacity, the equivalent of 12.4 million full-time workers, according […]

How to deal with client payment problems

At one time or another, your staffing service has mostly likely dealt with a client that either pays late or won’t pay at all. Here are our top four tips for dealing with client payment problems.   Create a standard process. Document and practice a clearly defined protocol for customer payment procedures, applicable interest charges […]

The benefits of niche staffing

While some staffing agencies choose to be jacks-of-all-trades, staffing within a niche provides a more narrowly defined opportunity for targeted specialization. A niche can include only a few, or even just one, industries or job types. Common staffing niches include light industrial, administrative, IT, construction, health care, legal, clerical and others. Some staffing firms work […]

How do my customers know where to send payments?

Under Article 9 of the Uniform Commercial Code, payroll companies such as TemPay are required to notify debtors (your staffing firm’s clients) that their invoices have been sold.   In addition, invoices that TemPay factors are required to have TemPay’s UCC notification information included, as well as our remittance address for payments.   If a […]

TemPay payroll funding application FAQs

At TemPay, we often receive questions about our payroll funding services. Here, we answer your most frequently asked questions about the payroll factoring application process.   Do I have to pay a fee to get started or for you to process my application? No. We believe in being up front, and that means no hidden […]

Does TemPay provide full payroll service as part of our payroll financing services?

Payroll companies offer a full-service temp factoring option. In addition to payroll factoring, in which you sell accounts receivable invoices to the factor for a fee to gain cash up front, a payroll financing company also provides back-office administrative services that allow you the freedom to focus on growing your business while it handles the […]

How TemPay can help your staffing agency with payroll factoring

Payroll factors such as TemPay provide a service in which staffing agencies sell their accounts receivable invoices for a fee to obtain immediate cash. Your clients then pay the factor. This type of staffing agency finance allows you to manage your agency’s cash flow in an industry where employees and vendors are often paid weekly […]

What Industries Benefit From Payroll Factoring?

Staffing firms of all sizes and in all stages of their life cycle can receive payroll factoring, whether you are starting your own staffing agency or are established in the field and regardless of your number of clients. Funding is available for firms in any industry, including: Light industrial Administrative Information technology Construction Health care […]

What is an Accounts Receivable Factoring Company?

When searching for staffing agency finance, you have probably run across accounts receivable factoring, a type of funding in which you sell your accounts receivable to the factoring company for a cash advance. Your clients then pay the factor directly. Firms of all sizes and in all stages of their life cycle can receive accounts […]