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Touch Financial have already seen hundreds of UK based businesses benefit from our finance solutions tailored specifically for recruitment companies. We have recruitment specialist experts with the knowledge to help put a stop to the age old recruitment industry problem – paying staff wages weekly, but being paid for your staff monthly
Invoice Finance is a funding solution which has been used by recruitment companies for decades, which has allowed it to be tailored perfectly to the needs of your industry.
With invoice finance, you can receive the value of any outstanding invoices which you are awaiting payment for. We can find you a lender which will tailor an invoice finance package specifically for your recruitment business, providing you with up to 95% of the value of your invoices within 24 hours of their creation.
There are two key forms of invoice finance available for recruiters, which can be further tailored to suit your specific needs.
Factoring – Provides you with a cash advance against the invoices you are yet to receive payment for, often within 24 hours. Factoring may be the invoice finance product suited for your business if you do not already have an established credit control facility as the lender will take charge of receiving and chasing payments from your customer. So if you turnover is more than £25,000 + VAT annually.
Invoice discounting – Similar to a factoring facility, as described above, but with one major difference – you are left in charge of the credit control facility. This further tailors invoice finance towards larger companies who have already established effective credit collection administration processes. As a turnover range, you are looking at about £100,000 + VAT.
To skip straight to our visual guide on the differences between invoice discounting and factoring, see our infographic.
There are many advantages of choosing invoice finance as your recruitment funding solution:
If you would like to learn more about how factoring or invoice discounting can help your recruitment business, please follow this link to our short quote form. By filling this in, you will enable us to be prepared for when we call you for a free, no obligation chat about your options. We look forward to hearing from you.
Here is the story of Ashley Alinia, of Right Track Recruitment. See more testimonials of people we have helped, here.
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All of the customers in our case studies have been kind enough to share their experience of the service we provide.
"Very polite and a professional team of financial advisers who seem to know their business, work well within their industry and get a result."-Invoice Finance Introduction
We pride ourselves on our high service levels. Please see what our customers have to say about us through the independent review service, Feefo.