Case Study: IT Staffing Agency Streamlines Operations and Accelerates Growth

As an IT staffing agency, this client places highly-skilled workers at large companies, requiring their team to be dialed into their roles, not chasing down clients. Before becoming an Encore Funding client in November 2023, they experienced significant operational challenges with a previous funder. They faced issues with payment applications and administrative processes.

They felt the friction between their status quo and new, more efficient possibilities, so they reunited with Joel Adelman, our CEO, and other Encore team members who worked at the client’s previous funder.

The Challenge  

This IT staffing agency struggled with serious operational inefficiencies at their previous funding company. These included delayed and incorrect payment applications that created ongoing unapplied cash issues. They had to navigate communication with four or five different contacts, never knowing who to reach out to for specific issues, which slowed down their operations considerably.  

Credit approvals were difficult to obtain, and collection problems persisted because their invoices weren’t being sent to the correct contacts at client companies. These administrative burdens prevented their team from focusing on sales and business development, limiting their growth potential. Here’s where we entered the picture to help turn things around. 

The Solution  

As their account executive, I became responsible for handling all aspects of this client’s needs, including credit approvals, cash applications, and collections. My team worked diligently. We resolved unapplied cash issues inherited from the previous funder and coordinated with debtors to ensure proper remittances and correct payment application.

Feature Services for This Client 

• Funding-Only Factoring 
• Back-Office Support 

I began sending out all invoice copies directly to the correct contacts each week and created custom monthly sales reports. By handling these back-office tasks, our team freed up the client’s team to concentrate on sales and growing their business rather than administrative challenges.

The Results

The client experienced immediate improvements in payment processing accuracy and timeliness, with no issues related to invoice delivery or cash application since transitioning to Encore. They successfully grew their business with existing clients, especially their largest contract with a healthcare facility, which doubled their placements in a single week!

The agency added several new clients to its portfolio while benefiting from streamlined credit approval processes. After working with this client for 15 years while at their previous funder, I was thrilled that our relationship continued seamlessly at Encore.

“My partnership with Encore gives me the confidence that my team can focus on revenue-generating activities because the funding relationship is in place. I love having a single point of contact for my account. My Sr. Account Executive, Maryanne, is an incredible asset in setting up processes for our clients’ needs. Her expertise has saved us on invoice aging fees and has allowed for a more professional approach for our clients. It is a great feeling as a business owner having a funding company in your corner that truly cares about the success of your business.” – Owner of an IT staffing agency

Strong operational support and a single point of contact helped this IT staffing agency transform administrative headaches into a streamlined process that enabled focused growth. This success story could be yours. Apply here for funding!