3R Finance can be used to finance Perm Fees, so that you can be paid the same week that an invoice is presented to your client, rather than waiting up to 60 days for payment. Alternatively our services can be used without finance as an affordable way to outsource your entire back office process.
Our perm service offers ultimate flexibility – choose your solution to suit each individual vacancy. With a simple tick box, select ‘Paid on Invoice’ or the cheaper ‘Paid When Paid’ option. Then manage your perm business according to your cash flow needs or depending on the payment terms agreed with your client.
Waiting for invoices to be paid can cause cash flow issues, wasted time chasing debt and in extreme situations recruitment business no longer having the cash flow to be able to trade.
3R Finance have created the UKs only ADHOC 100% finance and back office solution for permanent placements. This means that if a candi- date starts on a Monday we can have 100% of the invoice value in your bank account within 4 working days. It’s a well know fact that clients are dictating greater payments terms and are you in a position to be turning down this business?
We can finance permanent placement with payment terms agreed of up to 60 days!
How does it work?
Stage 1 – Client Credit Limit
- We encourage you to request a credit check at the earliest opportunity. A provisional credit limit can be requested at any time for any client at no cost.
- Understanding your clients’ creditworthiness at an early stage will allow you to agree payment terms which reflect the credit status of your client.
- When the deal is done your provisional credit limit will be formalised and an agreed credit limit provided. It is important that you trade within this limit for your Bad Debt Insurance to apply.
- Don’t worry, you will have up to the minute reports on total debt against your clients’ agreed credit limits and emailed at key stages if necessary.
Stage 2 – Client Agreement
- Next upload vacancy details to the 3RF Back Office. If you are using a compatible CRM, this can auto-populate.
- We will then confirm the details of the placement with your client – We send a simple email confirming basic information such as start date, fee amount, payment terms etc – No small print and no attachments.
- When you Client clicks ‘Agree’ the your Fee is released and paid to you the following Friday.
Call us to see how we can help you reduce your admin and increase your cash flow.