Hitachi Capital Invoice Finance launches innovative payroll solution for the recruitment sector
Inspired Payroll has been launched by Hitachi Capital Invoice Finance to help recruitment agencies ease cashflow and overcome the day-to-day challenges of running an agency.
The all-in-one, cloud-based product is an invoice finance solution which takes care of back office necessities and allows recruitment firms to focus on growing their business.
Managing timesheets, processing payroll and raising invoices can prove time-consuming and impact an agency’s ability to source new business opportunities and identify suitable candidates.
The Inspired Payroll tool has the capability to accurately process timesheets and payroll for both temporary workers, as well as in-house staff.
John Atkinson, head of commercial business at Hitachi Capital Invoice Finance, said:
“Running a recruitment agency can be challenging. Ensuring temporary workers are paid on time while the agency waits for payment from business customers can leave recruiters feeling cash poor. Even covering staff weekly wages becomes a struggle so releasing the cash tied up in unpaid invoices can help them survive.
“Recruiters also have the added administrative burden of ensuring timesheets and payroll is managed efficiently. The Inspired Payroll tool addresses this challenge by combining convenience with accuracy and astute financial management of money owed to a recruitment firms. This then frees up time for owners to concentrate on front office duties and growing the business.”
Unpaid invoices can have a direct impact on immediate cashflow, with some businesses waiting up to 121 days to be paid.
The firm has also made concerted efforts to streamline the costs of the tool. John Atkinson continues:
“We pride ourselves on being transparent with our customers and this tool is no exception. Inspired Payroll provides a number of services for one fee. This means there are no hidden costs for customers who appreciate a service that is not only upfront about charges but genuinely provides a business benefit.”
Find out more about Inspired Payroll here