Credit Control for Recruitment Agencies
Sterling have been providing credit control for recruitment agencies since 2008, working for small and medium sized firms as well as taking responsibility for the entire sales ledger of a £15m t/o recruitment and staffing agency.
The quality and relevance of our services were recognised by the recruitment sector in 2018 when Sterling were voted the best business support service provider by Recruitment International.
We have built up considerable experience in recruitment sector credit control in both the temp and perm markets, and a thorough understanding of the usual issues and disputes that can delay payment of invoices. In some cases we have achieved significant cash flow gains by improvements in the order to cash process, working closely with our client’s customers to ensure that PO’s and supporting documentation is provided to them in an agreed format and timescale to achieve payment by the due date.
Our credit control service for recruiters is able to work alongside invoice financing facilities (factoring). We can work directly with the finance company, for example receiving reports from them in order to allocate payments on the recruitment firm’s ledger, responding to their queries directly and providing data. Our service achieves prompt payment of invoices so that our client is able to benefit from the finance facility rather than the debtor.
Sterling have extensive experience of the technicalities of recruitment terms of business with most of our clients using agreements with similar clauses, often based on APSCo or REC standards. This experience helps us to resolve client disputes and achieve payment in difficult circumstances. Using our solicitor we can help our recruitment sector customers to tighten up terms of business, and to ensure that their customer engagement process does not leave loop holes.
Where a debtor refuses to pay the recruitment agency we are able to pass the debt to our debt collection team who specialise in recruitment debt. You can see more information on our debt recovery service for recruitment agencies here.
As well as providing credit control for recruitment agencies and debt recovery services, Sterling has developed a service for uncovering back door placements. Our HireChecker service works on a ‘fee per find’ basis, finding engagements that our clients have not been made aware of.