New funding solution for industry enables focus on growth

Bibby Financial Services announces the launch of Recruitment Finance its new funding and payroll solution for the recruitment industry.

Already well known in the industry as a factoring specialist, Bibby Financial Services has developed the product, as a direct response to market needs. Recruitment Finance is set to become a key offering for recruitment agencies, enabling more time to be spent running and growing their agency rather than administering it.

Recruitment Finance has been developed specifically for the UK recruitment sector and provides an integrated funding, invoicing, collections and payroll solution specifically for agencies making short-term, long-term or permanent placements in the UK. Extensive research into the market demonstrated a real need for a combined service and this product has been developed to meet this need.

Andrew Dixon, product development director of Bibby Financial Services, said: ìAlthough the industry is emerging from the slump of previous years with an accelerated demand for temporary placements and a 7% increase in turnover*, the sector remains weighed down by a number of issues. The continuing skills shortage as well as the growing legislative burden still takes up vast amounts of agency owners and managersí time.

ìThis increased pressure meant our clients were crying out for a one-stop-shop solution from a supplier they trusted - Recruitment Finance has been developed to be the helping hand that the industry needs.î