APay - Buy Now, Pay Later for Recruitment Fees
Announcement posted by APostive 03 May 2018
Workforce industry invoice finance specialists, APositive today launch a new funding and payment option for recruiters.
APay, gives recruitment agencies access to the full perm fee upfront, with the flexibility for the customer to pay APay over six equal monthly instalments via direct debit.
It means recruitment agencies now have the opportunity to go after the industry’s lucrative permanent placement market with confidence.
APositive director Danny Marlow said the Instalment Payment Option is a simple way for recruiters to improve working capital and cash flow, whilst allowing their customers more flexibility with payment options.
“We know the permanent placement market is growing, but it can be tough for the customer to cash roll the recruitment fee when the candidate starts work,” he said. “We see many agencies who are ready to take on more perm placements, but can’t because of their customers’ cash flow restrictions.”
“That’s why we’re giving recruitment agencies a payment option for customers to secure the employees they want and – ultimately – help grow the recruiter’s business.”
APositive has helped fund $300 million in invoices for workforce industry specialists. It provides recruitment, contractor and labour hire businesses with finance and back office solutions to help them grow.
APay is much like Afterpay used in the retail sector. Plus, it allows recruiters to spread the cash burden for the customer while the new employee helps generate value.
The product is designed specifically for:
• Recruitment agencies who could benefit from an advance of funds against permanent placement invoices; and
• Customers who could take advantage of spreading the recruitment fee over six monthly instalments.
Using high-level technology capability, the APositive technology team has developed a system that automates regular direct debits, allows for a seamless backend process and generates real-time reports to keep the user up-to-date.
Accessing the funds is simple – the recruitment company places a candidate and raises an invoice for the perm placement. The customer is offered two payment options; normal trade terms (e.g. 14 days) or APay Instalments.
If the customer selects the Instalment Payment Option, the recruiter can email a copy of the invoice to APay and the cash is advanced against the invoice in full, upfront. Then, the customer pays the amount back to APay over six equal monthly instalments via direct debit from their nominated account.
“This is about helping recruiters attract and retain new customers knowing they have access to the funds needed to hire the best permanent placements in the field,” said Mr Marlow.
“It means they can then offer their recruitment services to more businesses and take advantage of the buoyant market.”
ABOUT APOSITIVE: With a combined 40-years’ experience in finance, APositive co-founders Danny Marlow and Errol Katz partnered with the Bori Liberman investment company Jagen Pty Ltd in 2013. David Liberman joined as APositive co-director and helped further develop the payroll funding and invoice finance business. Already it’s funded $300 million in invoices and helped clients grow, ranging from early stage to multi-million-dollar operations.
Visit: apositive.com.au
Enquiries to:
Danny Marlow
APositive and APay Director
M: 0400 855 586, W: 1800 276 748
E: danny.marlow@apositive.com.au
Suite 3.03, 480 St Kilda Road, Melbourne VIC 3004