When your payroll and related temporary agency staffing billings are tied into third-party VMS Staffing Industry Vendor Manager systems and MSP Staffing Industry Managed Service Providers, we bring a team of payroll funding experts most accommodating and best equipped to facilitate payroll funding requirements.
What is VMS/MSP?
VMS and MSP are third-party middleman vendor companies contracted by the actual end user of labor/temps to manage payroll billings, time approvals, and other human resource components. Businesses commonly use VMS in IT Information Technology Staffing and Medical Healthcare Staffing, particularly when Fortune 500 companies are their customers or target prospects.
You cannot provide labor or contractors directly to the actual end user of the labor unless you go through the VMS vendor manager's online billing, time, and approval system and enter into a direct contract with the VMS. This often introduces new challenges for related payroll funding and billing needs.
Our team possesses specialized expertise and technologies that surpass those of other staffing industry funding companies and generalized invoice factoring companies, enabling us to support and solve unique VMS/MSP payroll funding challenges such as:
The fine-print contractual arrangements of VMS/MSP-staffing providers only permit you to invoice once a month for the labor performed, despite your staffing company's obligation to make weekly payroll for employees or contractors. In such cases, many competitor 'factoring' companies are unable to fund payroll on time due to a lack of adequate weekly funding documentation.
Staffing vendor managers and managed service providers continuously provide payment remittance data to staffing companies, all of which is directly or indirectly related to payroll and invoiced amounts. Many VMSs present payroll-related customer payment remittance data confusingly or inadequately, forcing the supplier-staffing agency to spend hours every week or month reconciling payments with billings, hours, and approved or denied overtime.
For more information about our payroll funding for staffing agencies operating under a VMS or MSP system, please use this short form. We will call you back shortly.
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