Transfer from existing funder

Many agencies may refrain from changing their funding provider due to the perceived difficulties in transferring their sales ledger and business. These instances are more frequent the larger the agency in question. In reality, the transfer of debt from one provider to Quba Solutions is a straightforward process as long as all parties involved follow the correct procedures

Quba are very experienced in transferring debt to our solution from another provider, both invoice finance and traditional factoring. We follow the standard UK Finance interfactor process for transferring debt and have skilled auditors available at short notice if required.

Our direct personal experience as recruiters means that we understand the impact that a transfer can have and as a result we ensure that your day to day operations will not be affected. The vast majority of the work will be done behind the scenes and your clients will not be made aware until necessary. We provide you with the relevant documentation to hand to your clients at the appropriate time, informing them of your change of funder, subsequently introducing ourselves directly. You have a dedicated account manager and credit controller within our team so the relationships are quickly built with you clients ensuring a seamless transfer process.

If you are interested in learning more about how to transfer your funding provisions and why Quba could be the right fit for you, please call our office on 01305 571239 for a confidential discussion.


Purchasing current debt is straightforward

 

Audit: We carry out an Audit, either ourselves or by an external auditor depending on the amount of debt to be purchased. This looks at the records supporting the debt, whether the debts are backed up by signed timesheets and invoices, how long do they take to get paid.

UK Finance: We follow the standard UK Finance interfactor guidelines for purchasing the debt – this is designed to ensure that the incoming and outgoing financier smoothly transitions the debt and causes as little disturbance to the client base as possible

Purchase: After agreeing the final sales ledge we purchase the debt adjusting for any held items – old debts, amounts held like VAT etc

Credit control: Our team will then take on the process of collecting the debt


Quba makes your life simple

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CONTRACT PEACE OF MIND

Contractual documentation for
clients and workers.

Easy reporting

We'll take care of all the stressful
HMRC reporting.

Integrated software

Payroll software for both
pay and billing.

 

Superfast payments

Faster payments rather than the slower BACS transfers.

E-TIMESHEET FUNCTIONALITY

Save time and ensure everything is tracked through our innovative tracking software.

Knowledge access

Recruitment expertise and knowledgeable partners.

 

E-timesheet functionality as standard

Many of the large, technologically advanced recruiters have been using E-timesheets for many years. We want our partners to have the most advanced system and therefore we have invested significant capital into building a unique, easy to use, clean and transparent system. The temporary operative creates their weekly timesheet online using the portal, this alerts the client who simply accepts or rejects the sheet. Visibility is key hence why we have designed a traffic light system to keep the recruiter updated. Understanding the demands of temporary workers we also enable a paper system to be used, managed quickly and efficiently through our unique online dashboard visible 24hrs per day.

 

Quba's E-timesheet process

  1. Worker and Client (Approver) receive e-timesheet activation email

  2. Worker completes online timesheet at the end of the working week and the approver receives a timesheet waiting for approval email

  3. Approver either approves or rejects timesheet

  4. Quba receives automatic notification, pays the worker and invoices the client


Would you like to find out more?

If you'd like to find out more about how we can help your recruitment agency, please complete this form, or alternatively call us direct on 01305 233178 or email us on enquiries@quba.solutions.

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