Billing, payments and revenue

Billing, payments and revenue tools make sure the money you've earned reaches your bank: paying contractors, billing clients, chasing invoices and protecting placement fees. On contract and temporary desks especially, getting this right protects your cash flow and your reputation.

What to look for

• Accurate pay and bill. Timesheets, rates, expenses and invoices should flow from your ATS without retyping, with checks for mistakes before anything goes out.
• Faster payment from clients. Online payment, automatic reminders and clear invoices all help clients pay on time.
• Fee protection. Some tools spot when a candidate you introduced has been hired directly, or a placement fee has been missed, so you can claim what you're owed under your terms of business.
• It works with your accounts. A connection to your accounting software saves hours at month end.
• Clear reporting. Margins, debtor days and overdue invoices at a glance.

Questions to ask before you sign

• How does it connect to our ATS and our accounting software?
• How does it handle different pay rates, overtime and expenses?
• How is it priced: per worker, per invoice, a percentage or a monthly fee?
• If it recovers fees, how is it paid, and who contacts the client?
• How are payments and bank details kept secure?

Watch out for

• Percentage fees that look small but add up on large volumes.
• Fee recovery that damages client relationships. Agree how and when clients will be contacted.
• Changing payroll systems mid-month. Plan the switch around your pay dates.