Recruitment Financing | Zodeq
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Speak to us today 01244 617 087

Recruitment

Zodeq provides financing for recruitment agencies and a full suite of back office support options. Zodeq’s DNA derives from the recruitment sector via our principal shareholder Exchequer Solutions Ltd.

Exchequer already provide services to over 200 recruitment agencies and administer payroll payments for over 4,000 people each week.

The recruitment industry is in a state of continual growth, at a rate of around 18% year on year.

New agencies are set up and launched all of the time by entrepreneurial individuals wanting to take the step from being employed to starting their own business. The majority of these businesses within the UK will use some form of financing to support their growth.

Services we provide

Recruitment financing

  • Up to 100% funding for your sales invoices to cover your payroll via invoice financing (commonly referred to as factoring) or confidential invoice discounting facilities
  • Permanent placement invoicing and funding
  • Producing and sending all invoices to your clients with accompanying timesheets
  • Producing and sending sales invoices in your company name
  • Allocating payments received
  • Monitoring and managing your sales ledger
  • If you require it, collecting payments from your clients and debt chasing
  • Compliance with specialist sector regulations, for instance the Construction Industry Scheme (CIS)

Back office support

  • Weekly calculation and processing of payroll for temporary workers
  • Pre-payroll reports sent to you for verification and authorisation
  • Producing and sending payslips to your temporary workers
  • Raising P45s for leavers, sending to home addresses and copies to HMRC
  • PAYE returns submitted monthly to HMRC on your behalf
  • Handling all HMRC and benefit forms plus all tax queries from your temps
  • Pre-legal services in relation to difficult debt right through to court, court hearings preparation and attendance
  • Provision of weekly margin, sales ledger and management reports
  • If you require it, we can arrange for credit insurance on all your clients - protecting your company as you trade

Who Can We Help

  • New start recruitment agencies
  • Established recruitment agencies
  • Agencies seeking an alternative finance and back office partner
  • Agencies currently experiencing funding restrictions or poor services levels from their current provider. For example, we understand RPO structures and terms and conditions and other customers deemed as ‘difficult to fund‘
  • Agencies with Time to Pay arrangements or HMRC arrears
  • We can provide finance on both temporary and permanent placements
  • We can provide funding against export invoicing in all OECD countries and currencies

Speak to us

Give our team a call today to discuss your finance or back office requirements

01244 617 087