You may have heard the saying ‘cash is king’, although it sounds like a quip out of an Al Pacino movie it should be taken seriously in business. Many recruitment businesses fail not because their business plan isn’t sound or their consultants aren’t bringing in the work, but because they fail to effectively regulate cash flow!
Recruitment agencies that place temporary workers can be a victim of their own success very early on, although you’ve just invoiced a client for a large sum invoices are typically paid 6-7 weeks after the agency has had to pay the worker, leaving you with all of your outgoings and lacking the cash flow to cover them.
There are a few tips and tricks you can use to stay on top of cash flow.
But what if, when it came to paying the workers and invoicing the clients you didn’t have to worry about cash flow an invoice Is sent to the client as the worker gets paid, then you got paid the margin on said invoice the same day. No worries about coming up short when it’s time to pay the bills.
Quba Solutions raises the invoice to a client the same time as paying the worker. Therefore, rather than waiting 6-7 weeks for payment you’ll receive 100% of your profit that same week. Invoices are then collected by Quba, meaning zero delays and no effort wasted on time-consuming administrative duties.
Improved cash flow, flexibility, no chasing debtors, no late payments and complete scalability are just a few of the benefits of working with Quba.
If you’re interested in learning more about how Quba can help your recruitment business, please feel free to call our expert team any time on 01305 233178.