The recruitment industry is notably fast-paced and competitive. Recruitment agencies can specialise in temporary or permanent placement, with many also offering both services to candidates.
Each of these services can pose varying levels of risk for the recruitment company and both have different implications for a business’s cashflow.
Temporary recruitment has the biggest impact on a recruiter’s cashflow as the candidate remains on the payroll of the recruitment firm. The firm must therefore invoice the debtor for these salaries and is paid on terms.
This creates a need for invoice finance, as the recruitment firm needs funds to pay candidates (usually on a weekly basis), yet often has lengthy payment terms with their client.
We help and support a variety of temporary recruitment companies to take control of their cashflow. You can get up to 90% of the face value of your invoice within 24 hours.
You can find out more about how we help temporary recruiters here .
We can support permanent placement invoices but only funds invoices which can’t be disputed (e.g. if there is a 50% rebate, then MI would fund up to 50% of the invoice face value). We usually review the contract between the business and their debtor first. The business has to have £1 million in revenues.
HOW KRIYA CAN HELP
We offer a range of funding solutions that could help your business, including contract finance, selective invoice discounting , confidential invoice discounting and loans.
It’s quick and easy to access funds, which means you can get the cash flow you need to get on with business. With Kriya, you get:
- Fast funding: quick funding decisions and set-up
- Hassle free experience: easy to use digital interface
- Help in real-time: personal customer support
- Straightforward costs: no hidden fees