When making technology decisions for payroll and billing, we often see staffing agencies evaluate software based on a wish list of back office features designed to improve the productivity of the accounting team. Timesheet entry, deduction handling, government reporting, etc. are all evaluated. These are very important features to evaluate, but one key feature that greatly improves the productivity of the back office is a unified front office. When a staffing agency uses unified staffing software that combines CRM, applicant tracking, payroll, and billing, the solution is better for the back office. A single solution streamlines the collaboration between teams, facilitates understanding your financial drivers, and improves the experience of your candidates and employees.
Streamlining Collaboration between Teams
When your back office solution unifies with your front office solution in your staffing and recruiting software, you gain the ability to better streamline the operations of your staffing firm eliminating duplicate data entry and centralizing data for improved customer service. The processes of your staffing firm begin with your sales and recruiting teams as they collect information on your clients, employees and assignments. That information is critical to payroll, billing, and reporting. When working in separate systems, these teams often struggle with time-consuming duplicate data entry and ensuring data accuracy. In a system that unifies CRM, applicant tracking, payroll, and billing, your teams have the ability to be more productive and better aligned in the staffing operations of your firm by leveraging the data entry completed by other teams. Your payroll and billing workflows no longer need to start with the duplicate entry of data collected in another system.
By operating within a single system, you gain the advantage of centralized data from your client and employee facing teams. If billing and sales are working together with a client regarding invoice questions, those teams can track and view their client conversations within the same system keeping the teams aligned. If you are gathering information for ACA, unemployment, etc., centralized data easily allows you to see the assignments worked and presented to employees and candidates. Easy access to the data of all employee and client facing teams allows you to offer better customer service and saves you tons of time.
Understanding Your Financial Drivers
In any payroll and billing software, you are able to look at key indicators of your financial success like actual revenue and gross margin. However, the drivers of your financial success are all tracked in your front office solution. Any effort to look at a complete picture of your financial results alongside their drivers takes extensive manual effort to pull together and is most likely going to involve an Excel spreadsheet or two (or ten). That effort is almost eliminated when you are operating in a unified front and back office solution.
Through reporting from a single system, you can relate actual revenue and gross margin to the number of orders, interviews, and placements it takes to get there. Your team can begin to look at the specific level of effort in the front office needed to drive the revenue in the back office. The advantages increase even more when your sales team is tracking potential opportunity through the CRM of this unified system, because you can use that data to forecast future revenue. When the opportunities of your sales team are tracked alongside ongoing assignments and actual revenue, you can calculate and report on your future potential revenue. It all starts with a single system.
Improving Candidate Experience
With today’s technology, so many of our experiences are online. For your candidates and employees, the same is true for so many of their experiences with your staffing agency. Applicant tracking systems allow candidates to update their personal information and look for jobs online and payroll systems allow employees to submit timesheets, view pay stubs, and view W2s online. When your sales and recruiting teams are operating from a different system than your payroll team, the candidate must access different systems. If your staffing agency is operating from a unified front and back office solution, the candidate has a seamless online experience. An easier experience for your employees means an easier experience for the back office too.
To discover how unified front and back office staffing software can help streamline your staffing operations, contact Bond for a demo today.