The idea of outsourcing professional services has become extremely popular in the corporate world, and for many good reasons. Not too many years ago, a company would hire the kind of professional personnel it needed to run its business and keep all of its paperwork consistent. It was not unusual at all for a company to have its own human resources department, IT support group, accounting experts and warehouse personnel. For a very long time, shoe manufacturers would invest money into recruiting and maintaining staffs of IT experts, even though IT support was not what the company did to generate revenue.
Amid the outsourcing outrage of the mid-1990's, the term "core competency" started to show up in corporate reports all over the world. This was a list of the things that the company did to generate revenue. For example, the core competency of a shoe manufacturer is the production of shoes. Along with that core competency went the specialized tasks of securing materials and developing new products. The items that did not make the list of core competencies were considered essential to the operation of the business, but they were also labeled as expenses. As with any expense, the corporate world set out to reduce its expenses by cutting back on anything that did not qualify as a core competency.
When companies started to look for ways to save money on their core competencies, that was the same time that professional temp staffing and outsourcing organizations started to become popular. Instead of spending money on a staff of IT professionals and all of the expensive overhead that came with it, a company could hire an IT staffing company and let the staffing company worry about payroll and overhead. The customer still got his IT services delivered by a professional staff, but at a significantly discounted price.
One of the other benefits of utilizing professional outsourcing companies is the ability to only use these specialized personnel when they were needed. Instead of having IT personnel sitting around and collecting a paycheck when there was no work to be done, the company could arrange it so they could have a technician on-site quickly and all IT projects could be scheduled in advance. This is just another way for the company to cut down on personnel costs while still getting the services it needed.
Accounting temp staffing firms were not the first kind of outsourcing organizations, but they are one of the few that seems like a perfect match for the accountants and the customers. With the help of sophisticated software, even the largest company can go day to day with a minimal staff of accountants to keep track of expenses and income. There are a few points during the year where every company could benefit from a large staff of qualified accountants, and that is where the temp staffing agencies come into play. In many cases, different companies have different times when they need accounting help. That is what keeps accounting temp staffing firms so busy all year round.
There is a wide variety of tasks that companies need accounting temp staffing agencies for, and these tasks are always vital to the company's operations. One of the busiest times of the year for accounting temp staffing companies is January to April as corporations all over the United States prepare to file their annual tax returns. There are several critical documents that corporations are responsible for filing each year, but their taxes stand out as one of the most important. This is the time of year when companies that normally rely on their staff accountants to get the job done will call the temp staffing agencies for help.
The work that an accounting temp staffing agency does goes on all year round. Large corporations require help filing annual documents to the federal government and it can take months to put together annual reports for public companies. All of those revenue projections you see in the news from large companies also require a staff of qualified accountants that is more than likely supplied by a temp agency. These are not part of a corporation's daily operations, which means that they are treated like special projects and given to a temp agency.
Small to medium sized businesses are also calling on accounting temp agencies for help with payroll, investor filings and a series of other financial documents that require specific help. Certified accounts often find working for temp staffing agencies to be financially rewarding and it is also good for their resumes as well. If an accountant wants to stay busy and be challenged by a variety of projects, then he needs to apply to an accounting temp staffing agency. It is becoming one of the preferred ways that accountants find work, but it also creates financing issues for the staffing firms. As payroll increases and past due invoices also increase, the temp staffing firm faces issues with cash flow that must be addressed.
Accounting temp staffing organizations are well aware of their financial issues, and that includes the challenges of meeting a rising payroll. Accounts receivable financing is an option that allows a temp agency to turn its aging report into a revenue report. Capital Credit is a recognized leading company of accounts receivable financing for small to medium sized businesses and we have the resources, as well as the programs, available to help accounting temp staffing firms to meet their ongoing financial needs.
Cash flow is made up mostly of the revenue realized from invoiced sales. When past due invoices start to pile up, cash flow is affected and the company has problems meeting its financial obligations. Accounting temp staffing firms have entirely too many immediate financial obligations to tolerate the effects of a crimped cash flow. Accounts receivable financing through Capital Credit will allow an accounting temp staffing firm to get the cash it needs to meet payroll and pay for all of its other immediate and critical business expenses.
An accounting temp staffing firm understands assets, and it is important to realize that outstanding invoices with creditworthy clients are assets the staffing firm can use to stabilize cash flow. Capital Credit turns those assets into collateral against cash advances that go directly into the temp firm's bank account. We deduct our small lending fee, and then advance you the rest of the face value of your invoices into your account. You will have the cash you need to meet your expense obligations, and you will never have to worry about making payroll again.
The Capital Credit application process is fast and easy. We can have your account approved and set up in three to five business days. From there, we can supply you with a flexible business line of credit that increases as your invoiced sales go up. Accounting temp staffing firms have a lot of responsibility when it comes to crunching numbers for their clients and getting important paperwork in on time. The last thing that your temporary accounting personnel need to worry about is whether or not you can make payroll. Capital Credit removes all doubt and creates the most powerful financing option that your accounting temp staffing company will ever utilize. Contact us to day and we will show you how we turn your outstanding invoices into cash and keep your company funded for now and the future.