QPS Cashflow Freedom

If cashflow problems are stifling your recruitment business from growing, Quest Pay Solutions can now help via our new QPS Cashflow Freedom product.

Partnering with our sister company Recruitment Funding Solutions (RFS), we are now able to offer risk free credit to our agency partners.

In addition, when using this service, your agency will be completely free of any risk relating to the following;

  • Customers paying late or not paying your invoices at all.
  • Insolvency of customers.
  • Non-compliance of industry related legislative risks normally liable to the agency such as false self-employment or travel and subsistence.
  • Submission of quarterly Intermediary reporting.
  • Employment responsibilities to workers.

Top up Credit levels

Perhaps you’ve also been unable to gain the necessary credit insurance to work with a particular customer and this is also slowing down your growth. Our cashflow freedom product can be used alongside any existing credit insurance policies on a ‘plug in and play’ basis, meaning it is there if you need it but there is no long-term commitment or obligation.

How the service works

Interest Agency expresses an interest in the service to QPS 1. Interest Introduction QPS introduces the agency to RFS 2. Introduction Set up RFS sets up the agency and explains the simple process of credit checking, paying and billing for the work in question. 3. Set up Submission Agency sends payroll submission and signed timesheets to RFS on a weekly basis. 4. Submission Invoicing RFS invoices clients and pays QPS so that workers can be paid. 5. Invoicing Margin Margin is paid to the agency, less the pre-agreed RFS deductions. 6. Margin Collection RFS deal with collecting the debt. 7. Collection

How is this different to Invoice factoring?

The key difference is that no money is ever lent to the agency, yet the agency is still able to be paid its margin weekly without having to pay out large amounts in payroll to its workers/ payroll company and then having to wait to be paid by its clients.

Typical factoring arrangements also often involve a personal guarantee or debenture to be put in place which can place pressure and risk on an agency should something go wrong. With RFS there are no PGs or debentures required.

How do I apply to use the service?

Simply contact QPS today who will go through the process in more detail and get you set up. Find out more below.

Find out more

Find out more about the QPS Cashflow Freedom product.

Just submit some basic contact information and use the message box to give some context to your enquiry, and one of our team will be in touch with you to discuss further.

RFS logo

QPS Cashflow Freedom is offered in partnership with Recruitment Funding Solutions.