Invoice factoring companies expertly address a challenge unique to staffing firms.

Today, I will spotlight one industry that greatly benefits from receivables factoring: staff firms, more specifically:

• temporary staffing agencies,
• nurse staffing agencies,
• medical staffing agencies,
• information technology staffing services and
• engineering employment staffing services.
  

Meeting payroll is their greatest expense, but it poses a challenge. They need to pay their employees every two weeks, but businesses where they place these employees often pay their invoices every thirty to forty-five days.

If the staffing company doesn’t have a comfortable bank balance, the problem is obvious. To compound the issue, many staffing firms turn away business because they can’t afford to hire enough staff to do the job right.

Receivables factoring allows staffing companies to run their businesses efficiently and effectively.

With additional factoring funds in hand, staffing companies can continue to add to their talent roster, fostering new business relationships and expanding their opportunities. IT staffing firms, which often have a 30%+ profit margin, particularly benefit from using factoring companies.

Are you tired of racing to make payroll every Tuesday? If so contact me at (800) 833-3765 Pin #150 or complete an invoice factoring application now . Tell me about your experiences, please leave a comment below.