Inside Waddle

How does payroll funding work for agencies?

Posted by Team Waddle on 10-Oct-2017 11:50:07

Got growing pains or gaps between meeting your payroll and customers paying you?

We know these can cripple your cash flow.

Instead of suffering through negative cash flow cycles, there’s a simple solution to ensure you can meet payroll commitments on demand.

SEE ALSO: Payroll and recruitment companies use payroll funding, here’s why

How Waddle helps agencies like yours

Whether your payroll is weekly, fortnightly or monthly, Waddle can tightly integrate with your accounting and payroll processes, providing on-demand working capital from capital locked in receivables.

Even if you outsource your payroll or manage it in-house, Waddle can embed itself seamlessly throughout your workflow.

How does the funding work?

Waddle establishes a line of credit based on your outstanding invoices of your choosing. Cutting-edge technology has enabled agencies to simply link their accounting software and dynamically build a line of credit from ongoing unpaid invoices to suit cash flow needs.

As customers pay invoices the credit line is replenished akin to a revolving line of credit or traditional bank overdraft. There's no ongoing fees, lock-ins or hidden fees.

Simple pay-as-you go funding, enables healthy working capital with the ability to control costs.

Profitable agencies rely on efficient, automated processes that improve cash flow, and work with existing systems in place. Agencies that use cloud accounting software have access to modern financing add-ons within a marketplace, enabling access to bolt on services without committing to lock-in contracts"

How do you get started?

Waddle’s automated payroll funding solution simply requires a link up with Xero, MYOB or QuickBooks to establish the account. No paperwork or traditional application processes are needed.

Waddle payroll funding snapshot

  • Revolving credit line with no complicated fee structures
  • No minimum fees or break costs
  • Cutting-edge application, just link your accounting software
  • No property as security or other strict banking processes
  • Direct access to decision makers – guaranteeing fast response times
  • 24/7 online access to our cloud-based platform for easy access and transparent reporting
  • Passes the "Sleep at night" test knowing you have unrestricted cash flow in place

Unlike other financiers, Waddle does not charge:

  • Transfer fees
  • Hidden fees
  • Service fees
  • Exit fees
  • Credit check fees
  • Renewal fees
  • Overpayment charges
  • Late payment charges

Don’t get held back by cash flow gaps. It’s time to modernise and take control of the way you manage your cash flow.


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Topics: Payroll Funding, Recruitment Agencies

Inside Waddle

Every business needs easy access to low-cost working capital. Subscribe to our blog to receive updates about invoice financing and to read about the impact that modern invoice financing is having on Australian businesses.

 

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