Hortor Holdings provides recruitment and consultancy solutions to blue-chip clients in the IT, telecommunications and financial services sectors. With operations around the world including the US, UK, Costa Rica, Slovakia and Malaysia there are some unique challenges for the firm. As Horter is expanding their staffing business into new countries with varying laws and practices for temporary staffing it is often a challenge adapting to how business works in other parts of the world. Hortor enters the process of going into a new country by assessing opportunities. Their solutions often include providing a fully managed service for their clients, establishing an operational center and recruiting locals to fill key roles. After explaining their process Andy Roe, Joint CEO and Founder, said, “We find the model works very well, enabling agility and speed to market for our clients. We’ve been in the US for approximately three years and are currently reviewing opportunities for continued expansion across different States. Developing new markets brings its challenges, however, we feel we have a proven approach that we have developed over the last four years.”
Hortor was able to attain financial freedom for their organization through a combination of services from Bibby Financial Services (BFS) and a funding product called Factoring. Factoring is an advance on accounts receivables or customer invoices which allows companies to focus on their core business while BFS makes sure they get paid every week. Through invoice factoring and confidential invoice discounting, BFS helps support the cash flow challenges of businesses, enabling companies like Hortor to invest in their growth.
“Bibby Financial Services supports our cash flow requirements. We could have supported our own requirements, however, this would have significantly limited growth. Working with BFS provided us a with another option. We made a strategic decision to work with BFS due to their service offerings and the breadth of countries they operate in,” remarked Andy.
Andy believes the arrangement with BFS has worked out very well for his organization, particularly in the US and Central Europe. “BFS has been very supportive and understands our needs and requirements making it a seamless approach
,” Andy explained. “The relationship continued to develop and we’re talking to BFS about the six new markets we are looking to open in 2019. We will continue to reinvest our profits and focus on our expansion with the continued support of our international partner, BFS.