With any business comes risk, and the staffing industry, in particular, faces unique risks in terms of workers’ compensation insurance, cash flow problems and contract/agreement needs. Mismanaging or ignoring these risks can land your staffing firm in serious trouble and they need to be occasionally revisited to ensure your firm minimizes its risks and […]
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 […]
Through payroll factoring, staffing agencies sell their accounts receivable invoices for a fee to obtain immediate cash. The staffing agency’s clients then pay the factoring company directly. This arrangement provides your staffing firm with: Instantaneous cash to operate and grow your business instead of waiting the traditional 30, 45 or even 60 days for payment […]
When your firm needs a temp agency funding solution but not full-service administrative support, contact TemPay, the most responsive, affordable and personalized choice. TemPay offers money-only factoring because sometimes you don’t want or need comprehensive administrative support. Negative cash flow may be straining your company’s finances or you may have to turn away business because the bank […]
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 […]
When your firm needs a temp agency funding solution but not full-service administrative support, contact TemPay, the most responsive, affordable and personalized choice. TemPay offers money-only factoring because sometimes you don’t want or need comprehensive administrative support. Negative cash flow may be straining your company’s finances or you may have to turn away business because the bank […]
