04-06-2008
Recruitment agents lose 4% of turnover on back office
News for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
SME Recruitment consultants are losing 4% of their turnover on bad back office practices according to back office solutions specialists InTIME.
The findings from a survey highlighted that recruitment companies are wasting money by not having online systems in place which improve streamlining of pay and bill systems, online payslips and automated reporting. Without them, it is not just administration staff, but also the consulting staff who are wasting time chasing timesheet authorisation and sales opportunities are lost.
One area where much time is wasted is on chasing invoices for payment. As a result many recruitment agencies use invoice finance as a solution. Not only do they get their invoices paid on time through an efficient online system, but they can also outsource the management of their sales ledger.