IT Staffing Firm: Focusing On Experience And Outsourcing The Rest
Challenge
The founding team had ambitious plans to provide contract and permanent staffing services. They had raised capital, which they intended to use to grow their business and expand their team. However, they were facing a significant challenge in managing their payroll operations. As experts in staffing, the team had solid connections and knew where to find high-quality candidates for their clients. However, they needed expertise in back-office operations, such as managing payroll, taxes, and other HR-related functions. This created a significant obstacle for the team, as they knew they needed help to successfully grow and scale their business while managing these crucial back-office tasks.
Furthermore, the team wanted to avoid allocating their equity capital for payroll. They tried to use their financial resources to focus on growth and expansion rather than funding payroll. They needed a solution that could provide payroll funding and handle back-office operations while allowing them to concentrate on the front end of the business, which was sales and making placements. The challenge for the founding team was to find a way to handle back-office operations, such as payroll management, without allocating their equity capital so they could focus on sales and placements and grow their business.
Solution
The staffing agency founders turned to Ascen for help with their back-office operations and payroll funding needs. We provided them with our Employer of Record (EOR) services, allowing them to launch their business quickly and easily without worrying about the administrative burden of handling payroll and compliance independently. In addition to EOR services, we also offered them our payroll funding program, which gave them the working capital they needed to pay their contractors weekly. With Ascen's funding, the founders were able to focus on growing their business and making placements while we took care of the behind-the-scenes operations. By partnering with Ascen, the staffing agency was able to hit the ground running and quickly establish itself in the competitive staffing industry. With our help, they could grow their business, make placements, and achieve their goal of providing contract and permanent staffing services.