New funding solution to help staffing organisations cope with growth.

FastTrack, the leading supplier of recruitment software, is excited to announce the release of FastTrack Funding – an innovative new service that offers customers the ability to quickly access funding to relieve the working capital gap between paying employees and receiving payment – all from within the FastTrack360 Recruit-Time-Pay-Bill business platform.

FastTrack Funding integrates payroll and invoice information from the FastTrack360 platform to provide an efficient funding process, giving leading staffing organisations further power to cope with growth and expand their recruitment and payroll services all from within a single business platform.

FastTrack Funding is designed to alleviate the pressure on hiring organisations when managing payroll, debtor collection and cash. By selectively funding client invoices, FastTrack Funding is a smart tool for managing cash flow at critical times; typically, between when candidates are paid and when clients pay their bills. With customer’s approval, FastTrack Funding uses key FastTrack360 information to dramatically reduce the normal administrative delays found in traditional funding services. The funding process is further simplified by the direct communication of the invoices to be funded and the required information to our funding partner.

To deliver this initiative, FastTrack has partnered with APositive, a leading finance provider in the workforce industry, specialising in payroll funding and invoice finance. APositive is an RCSA Premium supporter, an APSCo Gold supporter and the exclusive RIB Report sponsor.

David Page, FastTrack’s CEO, said, “We are excited about this unique and innovative service for our customers, believe it will give leading staffing organisations using FastTrack360 an even greater capacity to grow their business when opportunities arise and not be restricted by short term funding challenges.”

Said Page, “While funding of this type is still relatively new to Australia, the USA and UK markets commonly use a service like FastTrack Funding as a default way in which to operate. Business owners grow their organisations without having to use either their own cash or more traditional finance facilities to fund their increased working capital needs. FastTrack recognised the significant benefit of this type of service and the strong need for it in Australia. The efficiencies this solution provides for business owners and operators is unparalleled in the market. It’s a tool for our customers to further differentiate themselves from their competitors, a tool to win market share and enhance profitability.”

FastTrack Funding is the latest in several exciting innovative announcements made by FastTrack in recent weeks. It follows the release of the new FastTrack Marketplace and FastTrack360 Vega Update, all designed to keep adding increasing value to client’s investment in the FastTrack360 platform.

FastTrack Funding is available to all FastTrack customers now. Please contact your account manager on (03) 9225 9600 to discuss.