When you partner with Sonovate, you gain prompt access to working capital without the burden of being tied down to long-term, unfavourable agreements. This means that through invoice financing, recruitment agencies are able to maintain a healthy, predictable cash flow. And in turn, they can facilitate both the timely payment of staff and contractors as well as the ability to invest in growth projects with confidence.
The platform we’ve built makes it really easy to manage and fund contractors. The software is intuitive and provides you with a real-time financing dashboard — with timesheet submissions and approvals — that helps you reduce your team’s workload around each invoice finance process.
Furthermore, our platform empowers you to request selective invoice financing based on your specific current business needs while keeping full visibility into your funding limits, allowing you to maintain control over your finances. To make matters more seamless, our platform integrates with your accounting software so you can keep your finances under one roof.
Leave your details with us, we’ll show you around the platform and get you funding in no time.
(with a bit of tech genius help)
Sonovate has funded over £4bn in 40+ countries, working with thousands of businesses from startups to enterprises. No more waiting 60+ days for money to come in, we fund up to 100% of the invoice as quickly as under 24 hours.
Streamline your accounting
Recruitment agencies can experience peace of mind through seamless integration into a variety of accountancy packages, in turn eliminating uncertainties about invoice amounts. And, each invoice is able to be automatically generated and monitored for your convenience, rather than the hassle of manually sending individual invoices. Additionally, they gain a comprehensive understanding of your invoice payments while effortlessly synchronising your accounts receivable and accounts payable.
Stay in control
A recruitment firm can easily access selective invoice finance options with the added assurance of flexible and transparent pricing, all conveniently managed and viewed through our intuitive dashboard. This helps them to stay informed at each step of the invoice finance process. Further still, businesses gain complete visibility into payments, collections and invoice financing fees via individually disclosed receipt accounts.
Gain prompt capital access
As a recruitment firm you can gain access to business finance features, such as self-serve payroll, that can operate on demand, as frequently as needed. Companies can also benefit from asset-based lending, including tailored receivable financing and invoice discounting, designed to align with their unique business operations. Lastly, they gain the ability to adjust balances through flexible invoice factoring, surpassing the capabilities and reducing the burdens typically associated with traditional finance providers.
Automating processes allows us to focus on our strength…recruitment. We evaluated Sonovate against a leading bank and a privately owned financier. Sonovate’s back office offering outperformed both.
Charlie Crook - Lithium3
It’s clear they understand our world and what we’re working so hard to achieve. In the end Sonovate is a brilliant way for Core Consultants to unlock growth. We see a long and bright future together.
Steve Hampson - Core Consultants
Knowing Sonovate can unlock funds tied up in invoices in under 24 hours is seriously exciting.
Antoine Debroye - Coople
We offer a seamless onboarding experience, enabling you to better manage your accounts receivable in no time — particularly compared to the complexities of other — more traditional — forms of asset-based lending/funding solutions more generally used in the UK.
With Sonovate, you can get running in as little as 24 hours. We offer around-the-clock support and the added aid of video tutorials if needed to help you get up and running as fast and easily as possible.
Whether you’re a large, multinational recruitment company or are just getting started, invoice financing can benefit you greatly. If you’re a small recruitment business, you can leverage invoice financing to improve your cash flow and ultimately accelerate your growth and investment opportunities.
Likewise, for large recruitment companies, particularly those with visions of concerted growth, invoice financing can be utilised as a strategic tool. Large agencies can enhance their operations via invoice financing due to the flexibility of offers in managing cash flow and market fluctuations, as well as the consistency it provides in facilitating expansion opportunities.
Given the correlation between market stability and the sustained growth of the recruitment industry, flexible recruitment financing from a reliable invoice finance lender is all the more important.
For both small and large companies, our commitment to staying up-to-date with industry regulations ensures adherence to regulatory requirements, meaning you can access readily available capital with peace of mind.
Unlike many other financing institutions, we don’t tie our clients down with long-term, unfavourable contracts — this is particularly important due to the way market volatility impacts the recruitment industry.
We hold our clients’ peace of mind at the forefront. Whether you require short-term financing for a project that requires an immediate secured business loan or are looking for a steady cash flow over the mid-to-long term, we’re able to cater to your specific needs.
In short: we’re flexible. We offer tailored funding options that can be adjusted to meet your recruitment company’s requirements. To make matters easier, our platform has an intuitive dashboard that clearly outlines all cost-related logistics, providing you with a non-ambiguous overview.
Think of the main benefits of invoice financing in the following three ways:
1) Consistent cash flow: We offer immediate access to working capital that otherwise would be tied up in outstanding invoices. This means that you’re able to tend to your financial obligations, make projections and consider investment opportunities without the strain of an outstanding invoice. Consistent cash flow is of particular use when temporary recruitment is brought into the mix. A temporary recruitment agency is able to reliably pay contractors and tend to their related financial obligations irrespective of unpaid invoices.
2) Task prioritisation: Invoice financing takes away much of the strain that is commonly associated with accounts receivable, and in turn allows your recruitment agency to focus on the tasks that matter. Whether that’s talent sourcing, client acquisition or just day-to-day business, more generally, invoice financing — paired with Sonovate’s streamlined processes — allows you to prioritise high-yielding tasks.
3) Flexible funding: At Sonovate, we’re able to tailor your funding solution to your specific needs. Whether you’re looking for short-term capital or long-term cash flow stability, or anything in between, we can offer you the flexibility needed for optimal capital allocation.
Beyond these three benefits, we also ensure compliance with regulatory bodies, meaning you don’t need to spend time worrying about compliance. Therefore when you partner with Sonovate, you not only gain immediate capital access via intuitive processes, but you can do so in a way that your business operates within the legal framework and guidelines set by regulatory authorities.
