Bibby Financial Services North America (BFS) provides working capital and customized funding solutions to businesses across various industries, including staffing finance and funding. In an effort to help clients alleviate the most common burdens of running a staffing services company, which include time-consuming administrative/back office tasks and lack of sustainable business funding, this month has BFS announced an affiliation with Precision Global Consulting (PGC) to provide a complete recruitment finance and payroll funding solution for staffing companies. With headquarters in New York and a presence in London, San Francisco and Toronto, PGC has been helping agencies to place talent across the US and Canada compliantly for more than 15 years. Last year alone they made over 1,200 placements.
“This partnership will allow BFS to provide customized recruitment finance and payroll funding solutions while PGC provides back-office support for staffing companies,” said Daniel Rodrigue, EVP, National Head of Sales at Bibby Financial Services US. “Our partnered solutions support staffing companies with reliable assistance that adapts to their business, removing the hassle of not having adequate funding and the risks associated with keeping staffing workers insured, verified and ready to work.”
PGC’s offered services will include payroll, expense management, applicable federal, city and state taxes, IRS reporting, onboarding and employment verification, access to insurance and employee benefits, compliance and more. Services offered by PGC will ensure that staffing companies have the ability to make payroll, the time to recruit talent and the capital to invest in technology and staff skill up.
Here are just a few benefits of engaging in the payroll funding and administrative back-office services offered through the BFS and PGC partnership:
- Access to cash within 24 hours - Ensure that you have access to cash flow when you need it without having to wait for your customers to pay their invoices.
- Timesheet and payroll management available 24/7 - You save time to focus on recruitment, while our partner PGC manages the entire payroll process including flexible payroll schedules, collection and entry of all payroll related forms, updates to banking details and tax changes, overtime allowance and any benefits and expense deductions.
- Taxes - Leveraging back-office services from PGC allows staffing firms to outsource the responsibility of calculating and remitting payments to the IRS and state revenue services including federal, state and municipal taxes such as SUTA / SUI and FUTA saving you time and risk.
- Employee Benefits - Services allow you to offer your workers industry-leading benefits package options without your business incurring additional expenses (medical, dental, vision, 401(k), IRA, etc.).
Payroll funding from BFS provides the staffing finance options through factoring of accounts receivables with up to a 92% advance rate combined with back office support from PGC. Allowing an agency to deliver existing client contracts and accept new client contracts that otherwise wouldn't be possible. To learn more about these offerings and how they can benefit your company, contact Bibby Financial Services directly.
About Bibby Financial Services
Bibby Financial Services is a leading independent financial services partner to more than 10,250 businesses, providing more than $1.25 billion in funding annually and handling $11.6 billion in annual client turnover. With over 40 operations in 14 countries spanning 3 continents, we provide asset-based lending and factoring solutions to help businesses grow in domestic and international markets. Established in 2001, Bibby Financial Services supports businesses in virtually any industry. BFS is part of Bibby Line Group, a diverse and forward-looking family business with over 200 years’ experience of providing personal, responsive and flexible customer solutions. To find out more about Bibby USA and Bibby Canada, please visit www.bibbyusa.com or www.bibbycanada.ca.
About Precision Global Consulting
PGC is a Workforce Management Platform that employs workers on our clients’ behalf in the US and Canada. With 17 years’ experience in the industry, we are skilled at providing staffing agencies a compliant, cost-effective scalable solution for their back office needs. Our solutions enable you to place a worker in any state and they come under PGC’s registrations, insurances, workers compensation and we manage all the onboarding, compliance, payroll remittance, benefits and state-specific requirements. Our solutions are supported by our proprietary technology, Precision™ which includes features such as onboarding, timesheets and data and analytics.
Write2Market for Bibby Financial Services
Carla Etheridge, Sr. Account Executive
Email: Carla@write2market.com or call: (727) 385-8910