If your recruitment agency is going to supply Temporary/On-Hired Staff then one of the most important things you need to solve are the systems that you use to process payroll, generate invoices and keep up to date on your reporting obligations.
So many agencies fall into the trap of having a whizz bang “front end” Recruitment System but have little or no seamless solution for their back office and so bog themselves down with inefficient processes that result in not clearly understanding the performance of their business in a time frame that allows them to respond to marketplace changes. If an agency has not implemented a system that truly integrates with their front end recruitment system usually the only way to “fix” these issues is to incur additional back office expenses to manage inefficient processes.
Some of the features/functionality you should consider when looking at a Payroll, Invoicing and Reporting System for your Agency are;
- It actually integrates with your front end system! So many vendors talk about being integrated with other systems but in reality there is not a seamless process. Ask any potential vendors to show you a complete (eg from Advert to Invoice) demonstration
- An inherently efficient process – ie as you are creating a pay you are also creating an invoice – this way there are important efficiencies and also a direct relationship between an invoice and the costs associated with an invoice
- The Ability to track commissions – yes, there are no shortage of different ways that commissions can be based on – some are team based, some individual and some down to individual activities (eg the person who reference checked a candidate is different to the person who placed them but both may need to be tracked at a commission/financial level)
- Online Timesheets and Timesheet interpretation – yes having an online timesheet is very easy but you are likely to need an approval process that involves the Temp/Contractor, their client Manager and your business – this in addition to having those approved hours broken down correctly (ie where there are differing rates of pay/charge depending on when/where a person is working
- Paperless payroll onboarding for your Temp/Contract staff – a process that allows for the completion of all payroll documentation (eg banking, tax, superannuation, insurance, etc) and contractual agreements through an online portal
- Employee/Candidate portal where timesheets are submitted, employees can get copies of payslips and submit expense claims.
- Client Portal – where clients can approve timesheets, download copies of invoices/statements and also run reports
- Integrations for Tax Reporting (eg Single Touch Payroll, Pay Day Reporting, RTI PAYE, etc)
- Detailed Sales Reports – get Gross Margin reporting right down to the line item level and also down to the sales person level
- General Ledger Mapping to your Account System – with exports for journals, sales, expenses
- Ability to report by Divisions – eg you may have two or more areas of specialisation in your agency (eg Office Support & Industrial) – it is very useful to be able to report on these separately or as a whole
- System than can handle multiple entities – eg as you grow you may have different company entities that form part of your business so having a system that can handle multi entity is important to future proof your system needs
Remove double keying for your staff, contractors & professional services by using our innovative cloud based solution. Have total flexibility over all aspects of your business’ payroll and billings.
Regardless if your payroll is 10 people or 10,000 your business will benefit from automation and efficiency enhancement. We offer both self service instances for SME’s through to support SLA’s for larger Enterprises.
We deal with all sizes of recruitment agency – from Start Up to Multi National Businesses and would welcome the opportunity to give you an online demonstration of our systems – to do this – head to the PinvoiceR website and contact us to arrange a time for an online demo.
**** Recruitment Agency Start Up Pricing ****
Having been there ourselves, albeit a long time ago, we know exactly what it is like to start a recruitment agency. Along with all the challenges that go with starting a new business we know that any opportunity to get up and running with as little up front cost as possible is a good opportunity.
If you are just starting your recruitment agency, only just thinking about it or even started it sometime ago and yet to implement any systems make sure you ask us about our special pricing for Recruitment Agency Start Ups.