Back-office operations are expensive, often costing over 2% of a firm's annual recurring revenue. Staffing industry analysts indicate that these costs can be a significant challenge to business growth, especially for large staffing firms. Hiring, training, and maintaining a competent back-office team is often a large drain on resources.
Ensuring compliance is a time-consuming process. It not only requires a lot of attention from the executive team but also poses a significant risk. Non-compliance or mishandling of back-office operations can result in credit risk and compliance issues, which can potentially sink a business.
When you only have a few people handling your back office, one person leaving can cause major stress. Just think of what happens if payroll isn’t on time or accurate, or if your invoices are properly invoiced? This risk factor of internal turnover adds to the administrative burden of large staffing firms as they struggle to maintain a consistent, well-trained back-office program.
The rapid emergence of new competitors, coupled with the need to stay ahead of the curve, increases the pressure on these firms to streamline their operations and reduce costs.
By handling all back-office operations on behalf of your business, Agile Turnkey also helps improve compliance. Our expert back office team ensures that all operations are in line with regulations, minimizing the risk of costly non-compliance penalties and reputational damage.
By taking over your back-office operations, you and the rest of the executive team can focus more on finding clients, making placements, and growing your business. This means that resource isn’t being taken away from improving growth rates for the firm by wasting time on non-core activities.
Agile Turnkey can help increase a company's EBITDA by up to 15% by significantly reducing the Selling, General, and Administrative (SG&A) spend. In addition to direct cost savings, a staffing firm using turnkey is also freed up to focus their efforts on what matters—finding clients and making placements. The financial impact of SG&A cost reduction plus improved focus on revenue growth can have yield significant improvement on net profit and resulting business value.
The Turnkey model is particularly beneficial for growing firms, providing a scalable solution that minimizes operational complexities. Agile Turnkey has been specifically designed for large and enterprise staffing firms, using a deep understanding of the staffing industry. It is a unique solution that addresses the specific needs and challenges of these firms, making it a versatile and efficient solution. If you imagine running a staffing firm where you don’t need to concern yourself with back office details or obstacles (like onboarding, timesheets, cash flow, payroll, reconciliations, reporting, and compliance) and you can focus all your energies on driving revenue—then you’re envisioning a staffing business supported by Agile Turnkey™.
This cost-effective solution can integrate seamlessly into your existing business structure with ease. To discuss how simple this process is, contact us today.
