Using technology that can help you as a start-up recruitment agency could be the difference between the success and failure of your business.
Here are the basic technology features you will need to accelerate your start-up recruitment business into success.
Data handling is one of the most important tasks for a recruitment business. Instead of wasting time on spreadsheets that double data entry, lack the ability to view data across multiple sheets and have low security, you can resort to a technology that helps you resolve all these time-consuming issues. The days of confusing spreadsheets are over with technology out there that helps you to sort through countless sections of data all in one space securely.
Having access to one system can benefit your business significantly when it comes to Customer Relationship Management (CRM). A CRM stores useful candidate and client data taken from various sources and helps you manage your interactions with these contacts. As a result, it maximises your time on business development, allowing you to focus more on growth rather than organising/sorting data. Having all your data in one place can make a world of difference. Using this productive technology will help you manage your front office more efficiently and give you a competitive advantage in the market.
Timesheet technology has changed the way recruitment businesses can process weekly, saving time and paper. Many available technologies allow you to process single and multiple timesheets, considerably cutting down the old timely process.
Using payroll technology best suited to your recruitment business can eliminate any payroll challenges that may arise, as the technology will do this for you. Your recruitment business could face major difficulties without Payroll technology if your payroll is calculated incorrectly. HMRC require payments submissions to be delivered via Real Time Information (RTI) accurately and on time. You could certainly face penalties if you fail to deliver.
Invoices are what tie all of your hard work together. This is the part when your business gets paid!
Sending an invoice to the client should happen as soon as your timesheets are signed off. Using invoicing or accounting technology will help to speed up this process. Features are available that process invoices on your behalf and electronically. And it can also assist you with managing payments and remind clients when they go over their payment terms. Helping improve your admin and cash flow whilst reducing your time spent on these types of tasks.
Compliance & Legislation
Being compliant overall means your business is legal in every aspect. Failure to do so, for example, not being compliant with GDPR, could result in a fine for your business. If you are not attentive, it is simple to overlook some compliances, which could lead to your recruitment business facing legal action. However, using a technology that ensures your business conforms to legislation can help reduce your risk. Because of this, it is important to find a technology that will support your business with compliance and, more specific to the recruitment sector, the better.
Having a reporting system that pulls all this information together allows you to see all reports in one place to analyse your business and work out your next step. The right reporting software will provide you with dashboards specifically tailored to your needs, from sales pipelines to timesheets processed and debtor’s reports. Access to this information could be the key to your success.
Simplicity – GEMS
Here at Simplicity, we offer an innovative technology solution specifically designed for recruiters – GEMS. One main benefit of Recruitment finance and back-office solutions is access to technology that fulfils all of your recruitment software needs – on one platform, for FREE.
To find out more contact us on 01594 888518
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