A/R & Collections Management
We’re here to save you time, but you’re in control. Once you make the decision to work with a new customer, Advance purchases your client invoices, manages and supports your collections and becomes an extension of your accounting department.
We can be front and center, gently reminding your customers to make their payments, or we can take a back seat and become your invisible collections partner. Either way, Advance provides access to all of your real time A/R and collections information electronically, so you have 24/7 access to your accounts and capital.
How does A/R and collections management work?
When companies hire temporary workers, but have yet to pay for that labor, staffing firms collect those payments in the form of invoices. Most staffing firms operate by supplying staffing without any sort of upfront payment, and invoice their customers periodically to compensate for that labor. In other words, users of staffing offer IOUs in exchange for temporary workers, and temporary staffing firms invoice those companies to collect payments later on.
How does Advance fit in?
Advance offers flexible A/R and collections management solutions to suit any staffing firm’s individual needs. We provide the following services to ensure your A/R and collections are handled quickly and securely:
- Credit research to help you select reputable users of staffing and set pricing
- Secure payment collection from your customers to a 24-hour lockbox
- Payment processing within 24 hours
- Legal guidance if your customers default on their payments
- Free collection reports with detailed collection activity
Our A/R and collections management services are available for our payroll funding clients, even if you don’t sign on for our back-office support. Plus, all Advance clients gain access to our suite of strategic services.
Request a free consultation to get started.