Technology is changing the face of the recruitment sector – thankfully so. The rush of regulatory directives and political intervention coupled with a Brexit-shrinking talent pool and often-arbitrary back office practices is pulling the recruitment industry in all directions.
And the software used by each recruitment agency to manage its operations has to be able to manage each of these challenges.
From a positive perspective, these challenges provide the sector’s business leaders with an opportunity to take control and invest in more functional, integrated and safer ways to navigate the changes their organisations face – and so remain ahead of the personnel curve.
Four Common Challenges the Recruitment Industry is Facing
- GDPR and the National Living Wage – failure to comply with these regulations could mean agencies facing big fines
- Burgeoning competition and a diminishing talent pool means that more agencies are fighting harder as net migration takes its toll on the size of the labour market
- Agencies that operate inefficient processes and fail to manage data and admin effectively will find their bottom line vulnerable and their businesses in jeopardy
- Cashflow is always a potential issue with varying shift patterns and pay rates that take too long to calculate resultomg in the slow issuing of invoices
The Answers that Effective and Dedicated Software can Deliver
Fortunately there is Agency Time, an effective and integrated software solution designed to help recruitment agencies meet all of these challenges.
Agency Time is a dedicated ERP solution for the recruitment industry that builds on the flexibility of Microsoft’s trusted Business Central platform (formerly Dynamics NAV), one of the world’s most popular business software solutions. Operating in the Windows environment, it delivers all the features needed to manage both temporary and permanent placements, notably contractor payments, client billing and total financial control. Moreover, it meets the challenges already highlighted.
GDPR and the National Living Wage, when all systems are integrated, simple one-click analysis and reporting eliminates exposure to regulatory risk.
Burgeoning competition and a diminishing talent pool can best be addressed by communicating easily and effectively with the talent pool on your books and nurturing your relationships; prompt payments via a well designed online portal will always be an effective way of maintaining a competitive edge
Inefficient processes have been the downfall of countless businesses, in the recruitment industry as elsewhere. By automating processes from analysing margin performance to exploiting business insights and resolving errors, this frees up resources that can be more effectively moved to where they are really needed and to understand where the next role is coming from or the next call that needs to be made.
Cashflow crisis – when timesheet software is integrated so that expenses and pay rates are automatically collated to ensure every invoice for every employee and job is right first time, and on time then cashflow is enhanced and crises averted.
Agency Time Recruitment Software in a Nutshell
Agency Time is designed to ease all the headaches most commonly faced by the recruitment industry. Pushing timely payments out to contractors, getting clients invoiced quickly and accurately, and having cash collection processes that feed seamlessly into your bank reconciliations is an invaluable and labour-saving resource. Having all that on the same single system as your management account information naturally leads to a great user experience too – not to mention a welcome positive return on your technology investment.
Agency Time is a trusted solution in use by many of the most successful recruitment agencies in the country. It is a cloud-based solution that gives forward-thinking recruitment organisations access to their data wherever they are, whenever they need it.
For further details, talk to our specialists and find out how to implement a solution that’ll make light work of your back office operations.
