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The SME lender has announced a new alliance with payroll funding and back-office solutions provider.
Non-bank business lender ScotPac has partnered with APositive in order to provide a suite of services to businesses in the $20 billion recruitment and labour-hire sector across Australia and New Zealand.
APositive specialises in payroll solutions for recruitment, labour hire, and other contingent industries. According to the company, it has processed over 120,000 contractor timesheets and has funded over $3 billion for payroll through leveraging its “custom-built technology platform” since 2013.
Recruitment and staffing businesses across Australia and New Zealand employ roughly 350,000, around 2.5 per cent of the working population, according to ScotPac.
The number of these businesses in Australia has reportedly grown by an average of 3.8 per cent per year since 2018, in spite of the COVID-19 pandemic and higher levels of interest rates and inflation.
ScotPac outlined the key features of the new partnership with APositive:
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- ScotPac will exclusively offer APositive’s payroll solution services to support its list of recruitment/labour-hire clients.
- ScotPac’s business development managers (BDMs) will promote APositive’s services throughout its extensive broker and introducers network.
- Via cross-promotion, recruitment and staffing clients of both businesses will have rapid access to “best-in-class” technology and expertise to help them finance and manage all of their payroll obligations.
Group executive, client acquisition at ScotPac, Craig Michie, said this new partnership would provide the cash flow “certainty and peace of mind for more recruitment and staffing businesses”.
“ScotPac has always enjoyed a great relationship with the recruitment and labour-hire sector, and we intimately understand the critical roles that cash flow and payroll management play,” Michie said.
“By partnering exclusively with the market-leading payroll funding and back-office solutions provider in APositive, we are giving our clients the best chance to grow and succeed, particularly those in the start-up phase when help is needed most.
“We look forward to leveraging the synergies across our two businesses to provide an unrivalled package of services for existing clients and new entrants in this thriving sector.”
Chief executive of APositive, Danny Marlow, said the alliance offered “immense value to recruiters and labour-hire business owners”.
“Establishing and growing a recruitment or labour-hire agency is a challenging endeavour, and finance and payroll management are two of the most complex yet vital ingredients,” Marlow said.
“APositive has been helping recruitment and labour-hire businesses in Australia and New Zealand start, scale and succeed for more than 10 years.
“By joining forces with the region’s largest and most experienced non-bank lender in ScotPac, we are really excited about the prospect of giving more business owners the freedom to focus on new opportunities and grow their business.”
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