SANDER KROEZEN & HENRY MOL- EXECUTIVES
"Pre-financing invoices through Boozt24 is a real lifesaver for us"
About Uitzendbureau A28
At first glance, uitzendbureau A28, based in Hoogeveen, is one of many staffing agencies, focusing on the cleaning industry and professional goods transportation. However, what makes this company unique is that it not only handles the recruitment and selection, and the staffing and detachment of personnel. If required and desired, the agency also provides in-house training for staff to meet the requirements of their workplace. This includes Code 95 refresher courses, ADR training, forklift and high-work training, first aid, VCA full/basic, and BHV. In this way, staffing agency A28 can fully unburden its clients if desired.
Growing as a staffing agency is difficult
Even if there is a great demand for good personnel, banks are not immediately willing to grant a financing request from a staffing agency, possibly due to the negative reputation the industry has had in the past. In staffing work, the problem is that money must be immediately available for the weekly payment of salaries, deposits in pension funds, and payments of owed taxes, while the amount invoiced to the client is only received later.
Accurate matching of clients with temporary workers, and the wide range of specialized training offered, have ensured that staffing agency A28 has gained a reputation of quality over the years and has seen its customer base grow significantly. This allows the company to provide staff who fully meet the requirements in the industry in which they will work. In addition, employees from other companies can also go to the company for training and retraining.
However, growth as a staffing agency and trainer also means an increasing need for pre-financing to meet the financial obligations towards the employees. It is common in the industry to pay weekly, and invoice delivered hours to the client in parallel.
During an information meeting on business financing organized by Credion, the company came into contact with Boozt24. The financing platform of Boozt24 turned out to be the perfect fit for the need for pre-financing at Uitzendbureau A28. "Pre-financing invoices is ideal; within 1 day after submitting an invoice, we already have part of the money available," Sander explains.
An invoice is booked in this way and then runs on the platform. Boozt24 validates the customers on payment behaviour and based on this, either does or does not provide pre-financing. On average, 50-60% is pre-financed. The invoices to customers for which no pre-financing is given are still administered, so the payment traffic remains very transparent. If a customer goes beyond the agreed payment term, it is up to Uitzendbureau A28 to determine whether or not a collection agency will be called in. Invoices that are in danger of exceeding the payment term can be repurchased at any time.
Pre-financing invoices through Boozt24 provides stability in cash flow for payroll administration at Uitzendbureau A28
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"All in all, pre-financing through Boozt24 works very well for us. Banks are not as willing, possibly because they look negatively at the staffing industry. A bank wants security, such as