Making your recruitment agency more efficient shouldn’t have anything to do with your personal skills in developing business, creating leads or employing staff - you’re already a professional in that field!
Ironically, the more temps you have out the worse your cashflow becomes. With typical debtor days of 45-50, the inability to self-fund quickly becomes evident. Quba Solutions pay 100% of your profit every week meaning every Friday your workers are paid, you’re paid. We pay your workers, generate the invoices to your clients and then do all your credit control.
Experienced Back Office:
Along with providing the finance, Quba Solutions also provides an online portal and back office functionality, taking away all the payroll chores – running a weekly payroll, invoicing, chasing debt, running RTI reports, the list goes on. We provide all our agency partners with a dedicated credit controller, account manager and payroll team. All of which are regularly working with recruiters just like you and know how the industry works .
Quba’s Financial Director, Paul Tonks, has set up our back office using his extensive knowledge from having worked as Randstad’s FD for a total of 15 years. Working with a team that understands your business and clients makes all the difference to your business’s efficiency – no repeating conversations, calling into call centres or getting calls from end clients after having received an automated correspondence.
Tech is supposed to save time but how many times has a poor IT platform done quite the opposite? Having streamlined and easy to use technology is another way you can make your business more efficient. Quba has invested considerable amounts of money into developing the IT platforms we provide to our clients making sure that it is relevant to recruiters and not an incomprehensible finance tool.
Currently our IT platform is made up of two parts – our Dynamiq Dashboard and our agency brandable e-Timesheet app. The app is available for your end clients and contractors alike to download and submit/approve timesheets. By working with a financier that wants to be at the forefront of its sectors technology you can rest assured that your agency is being provided with the best of the best. Not only that but by having the branded e-Timesheet app this puts your marketing at the forefront of many of your competitors.
Outsourcing your back office to Quba Solutions reduces your business need for support staff as we take care of all back office functions. HR, salaries, training all eradicated, as is the need to provide holiday cover, sickness etc
These aren’t the only additional costs you may face when running your business, there can also be debt protection and legal costs. Some invoice financiers/traditional factoring businesses will sometimes add on an extra % or fee for providing debt protection – at worst others will ask you to source your own debt protection and leave you to negotiate the best price. At best, invoice financiers like Quba will include debt protection in the agreed fee percentage at the beginning of the contract. Working with a financier that includes debt protection is a good way of avoiding the unnecessary cost of sourcing your own or ending up paying more in the way of excess for the insurance. Legal costs are avoidable too, by working with your credit controller and good clients, you can have a degree of confidence that your invoices will be paid on time.
Going paperless is the ideal scenario for any recruitment agency – no printing costs, saving the trees and on top of that you’re not sat there every Tuesday continually typing in hours from unreadable timesheets. Number 5 is self-explanatory as we all know how going paperless can make an agency that little bit more efficient.
But just so you know… Quba cater for those that are paperless and also cater for those that aren’t – we understand that sometimes an e-timesheet just won’t be suitable. Timesheet functionalities are all included on our Dynamiq dashboard and e-Timesheet app with an easy traffic light system for you to track the status of your timesheets each week.
If you would like to learn more about how Quba Solutions can help your business grow and become more efficient, please get in touch with one of our funding professionals on: 01305 233178 or contact us here.