How can I use Invoice Factoring for Cash Flow?

Posted by Gil Oliva on Fri, Sep 05, 2014 @ 07:48 AM

Why do we talk about cash flow so much? Because successful business is ultimately all about cash flow. It is always good to revisit the benefits of invoice factoring when it comes to cash flow management.

Just to clarify the role of a factor for those of you new to our blog, or to the process of factoring: Companies that are either struggling with cash flow or slow-paying customers can sell their invoices or accounts receivable to a factor. The factor advances the vast majority of the invoice amount, usually between 70 to 90%, once the credit-worthiness of the billed customer is checked. When the invoice is paid, the factor remits the balance, minus a small factoring fee.

So it is immediately apparent how factoring can help cash flow. Not having to wait 30-90 days for payment on outstanding invoices gives a company the ability to utilize that money immediately to pay bills or grow.

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Topics: Fuel Advance Factoring for Trucking Companies, Payroll Advance Program for Staffing Agencies, About Invoice Factoring

Temporary Staffing Agencies - How to Tempt the Temp

Posted by Seth Herman on Fri, Aug 29, 2014 @ 08:00 AM

The demand for temporary staffing is on the rise, but how do you go about getting the qualified candidate for a temporary position?

BVF_Blog_8.29We have discussed the challenges temporary staffing agencies face, and expounded upon the best ways to keep the cash flow flowing, so your business remains in the black, but no matter how you cut it, having qualified temporary staff to call upon is a vital component to the success of your company.

In her excellent blog, Subadhra Sriram, Editorial Director of Staffing Industry Analysts, states that it is the war for talent that is fueling the necessity to market to the temporary worker. She writes, “staffing firms more than ever need a strong case to present to the worker.” The blog discusses how important it is that you represent not only your brand, but also the brand you are working for (your clients) to those people you are trying to recruit to fill the temporary positions. If your temp is happy, the general consensus is that the client will also be happy and return to you to fill more temporary positions.

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Topics: Cash Flow, Payroll Advance Program for Staffing Agencies, Temporary Staffing Agency Financing

Temporary Staffing Agencies – How to Overcome the Challenges

Posted by Aaron Zahedani on Fri, Jul 25, 2014 @ 08:00 AM

In our last blog, we discussed the benefits of invoice factoring, and payroll advance when it comes to helping your temporary staffing agency grow, and keeping your temporary staff happy. Now let’s consider some of the challenges that can often stand in the way of success.

In a recent article in the Houston Chronicle online edition www.Chron.com, Kay Miranda discusses some of the problems faced by temporary staffing agencies. She mentions the importance of maintaining a large enough talent pool to serve the staffing needs of the demographic area. Temporary staffing has grown to include many specialist industries, such as healthcare and IT, and the demand for talent has become extremely competitive. This also means that the agency needs to be employing experts in their chosen field to adequately interview and hire temporary staff that will meet the needs of their clients.

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Topics: Payroll Advance Program for Staffing Agencies, Temporary Staffing Agency Financing, About Invoice Factoring

How Can Invoice Factoring Help Temporary Staffing Agencies Grow?

Posted by Gil Oliva on Wed, Jul 23, 2014 @ 09:14 AM

Do you have enough working capital on hand to pay your bills, and your staff on time? If you are cash flow challenged, have a healthy amount of outstanding invoices, and want to grow your temporary staffing agency, read on.

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Topics: Payroll Advance Program for Staffing Agencies, Temporary Staffing Agency Financing, Financing Government Contractors, About Invoice Factoring

Funding Payroll for Employee Staffing Recruiters

Posted by Gil Oliva on Mon, Jan 06, 2014 @ 11:07 AM

When considering the many aspects of running a staffing company, the concern that frequently rises to the top is financing payroll.Payroll funding for staffing companies

Staffing companies have seen a greater demand for services over the last year as the economy recovers. In order to succeed and grow you must concentrate on providing excellent service to your existing customers, building a new client base, and getting quality assignments for your staff.

Your goal is to employ and retain the best employees, which means paying competitive salaries at regular intervals and always paying on time. This often involves funding payroll for your contractors prior to receiving payment from your clients.

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Topics: Payroll Funding for Staffing Companies, Payroll Advance Program for Staffing Agencies, Financing Payroll

Payroll Advance Program with Invoice Factoring

Posted by Gil Oliva on Thu, Feb 28, 2013 @ 10:54 AM

Payroll Advance for Staffing Companies

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Topics: Payroll Advance Program for Staffing Agencies, About Invoice Factoring

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