Lets discuss Invoice Factoring Finance For Neutral Vendor Recruitment Agencies in the UK. If you are placing temporary staff via a Neutral Vendor like GRI, then you make find it more difficult to secure Invoice factoring to finance your business.
The largest Neutral Vendor MSP in the UK and in the World is Geometric Results International (GRI). In the UK alone they manage over £1 billion in recruitment spend, with much of this being placed by its 3,750 partner agencies.
However recruitment agencies placing temporary staff via a neutral vendor like GRI, will have to wait for invoices to be paid. This can put a strain on cash flow, especially if staff need paying before the invoice is settled.
Its possible to using invoice finance (factoring) to release up to 100% of any unpaid invoices related to timesheets.
Fill in the form below to get a invoice factoring quote.
Invoice Factoring For Neutral Vendor Recruitment Agencies
When placing temporary staff via a Neutral Vendor managed service provider (MSP), it makes its more difficult to secure invoice finance. This is mainly due to:
- High debt concentration with one single debtor (the MSP)
- Invoicing a managed service provider (MSP) instead of the end client
- Contractual terms with the MSP, such as paid when paid clauses
These issues mean that many highstreets banks and mainstream invoice finance companies, will not provide factoring.
However you can still access invoice factoring from specialist providers that work with recruitment agencies in this sector.
As an independent factoring broker, we can source lenders for you that accept neutral vendor/MSP debtors.
Read more on our Invoice Factoring page.
Factoring GRI Invoices & Timesheets
If you are a recruitment agency working with GRI in the UK, then you can still access Factoring against your invoices.
Factoring can provide a long term solution to cash flow pressure and support your business as it grows.
- Release Up To 100% of Unpaid Invoices
- Funds within 24 hours
- Revolving Credit Facility
Here are a few useful frequently asked questions about GRI.
Temporary recruitment agencies can place candidates via a managed service provider (MSP) like GRI. Rather than working direct with numerous organisations, you just fulfil jobs via GRI.
You can find out more on the GRI agency website.
In January 2018 the UK’s leading neutral vendor temporary recruitment provider De Poel was acquired by US company Geometric Results Inc. Later that year in June 2018 De Poel was rebranded and renamed GRI.
If you are looking to get invoice finance for your GRI invoices, then you will need to get debtor list. You can access your GRI invoices from the etips login area by suing this link https://e-tips.com/
The UK contact number for GRI is 01565 682020.
Option 1: Fulfilment Services (Vacancies)
Option 2: Finance (Invoices, Payments & remittances)
Option 3: Support Services
Option 4: Prospective Clients (Sales)
Alternatively if you are looking to register as an new GRI agency then you can email them on email@example.com
The UK contact number for etips is 01565 682020, option 3.
Apply For Neutral Vendor Recruitment Factoring
As an independent invoice factoring brokers, we search the market to find you the finance you need.
We do not charge any broker fees for our service.
Fill in the form below or call us on 01204860113 (Mon-Fri 9-5).