- 16 Oct
Does Your Invoice Finance Company Have A Close Relationship With GRI?
If you provide staff to GRI, you might benefit from using a flexible invoice finance company that has a close relationship with GRI, we can introduce you to a funder with that close relationship.
GRI - De Poel - Umbrella Purchasing
GRI (formerly de Poel) are an umbrella purchasing organisation for staff. Recruitment companies often deal with them as they hold the direct relationship with large end debtors. These end debtors use their services to simplify the sourcing of temporary staff. Rather than dealing with many small recruiters, the end customer can deal with GRI who in turn source the staff from the smaller recruitment agencies.
Close Relationship With GRI
We have had some success at finding high prepayment invoice finance facilities for clients that deal with GRI, invoice finance at 90%, against invoices to GRI, has been possible in some cases. As so many recruiters deal with GRI, ensuring that staff agencies get the best prepayment levels can be very important to businesses within the staffing sector.
The prepayments mean that you don't have to wait for the invoices to be settled by the customer, before being able to access the majority of the value of the cash that is tied up in the invoices. When you raise this type of finance across your whole sales ledger, it can release a large amount of working capital to assist with the payment of staff, PAYE/NI and other overheads.
It therefore stands to reason that there will be benefits in dealing with an invoice finance company that has a close relationship with GRI. It means that they have the internal contacts at GRI e.g. in the accounting team, to be able to make a call to get assistance should the need arise.
We have heard anecdotally that GRI have been very busy dealing with large requirements for healthcare staff, driven by the pandemic. If you are providing staff to the healthcare sector, and GRI is one of your customers, we can introduce you to an invoice finance company that has very good relationships with GRI.