Since launching in November 2014, Bossh Recruitment has opened offices in Australia and New Zealand. The young company specialise in the recruitment of digital professionals, including digital marketers and related staff. The permanent placement recruiter is fast growing and looking to expand in 2016.
As some client payment terms stretched out, the gap between payment and payroll commitments widened
Placing permanent roles is often sporadic, which means waiting for payment for those placements can result in cash flow pressures, especially if customers delay payments. As Bossh waited for invoices to be paid – or even for roles to be placed – its developing infrastructure for growth was restricted. “APositive were in the right place at the right time in late 2015. I’ve run small businesses for a long time and one thing I’m adamant about is: we don’t do debt,” says partner Simon Whelan.
“ I’ve run small businesses for a long time and one thing I’m adamant about is: we don’t do debt”
A selective invoice finance facility for permanent placement invoices
Funding of permanent placement invoices – from the date the candidate starts – allows for an injection of cash to Bossh Recruitment to speed up its growth opportunities. The APositive process of creating a funding line also helps improve the collection cycle of the invoices. Ultimately, invoices to Bossh Recruitment are paid quicker. Plus, APositive offers a credit management and credit checking service to ensure Bossh only works with the best – and most reliable – customers.
“It’s reasonably straight forward, you just give APositive the timesheet information and away you go. They pay out a certain proportion of our invoice, and the customer pays them. APositive then takes a margin off before remitting the remaining amount back to us.”
A flexible solution means Bossh Recruitment can choose which invoices it wants financed
Bossh Recruitment only require ad hoc invoice finance. A flexible approach to workforce finance means it selects which invoices to be funded so that the right amount of cash flow is available to run and grow the business. “We have used APositive a couple of times and the cash always comes through quickly and the process is simple. I would definitely recommend APositive to similar recruitment businesses looking to grow,” says Mr Whelan.