With around 300 receivables factoring companies to pick from making one claim after another, so how do you make your choice for the correct one for your company?

There are a handful of receivables factoring companies that will will actually go above and beyond than just cash.

With some factoring firms, your business also receives stellar service and financing plans to help improve your company's sales.

Here's what you need to know to pick the best receivables factoring business for your business.

You're probably thinking, "I don't have time for this!"

We take the stress out of making this decision. And you'll discover why over 45% of our new business is from Client Referrals. Easily the highest referral rate in the factoring industry.

No other company comes close!

Not familiar with Factoring?

For those who aren't familiar with Factoring, it is mostly a fast way to get cash from your receivables.

Factoring is Not a Loan

When you give your customers an invoice, they usually have 30 days to pay you back. Factoring companies will give you the bulk of the cash up front, sometimes within 24 hours, and collect the payments from your customers themselves. Once the invoices are paid in full, you’ll get the balance left over, minus a small fee.


Factoring Doesn't Require Debt

Sounds simple enough – fast cash for your business – no loans, no debt.

so how do you make your choice for the correct receivables factoring business FOR YOUR Dallas business?

All of them cry out they have the simplest rate plans in the business, no long-term contracts, fast- same day/same hour funding, no up-front fees, no monthly minimums or maximums and so on so on.

We also deliver these same benefits, except we also PROVIDE EYE-OPENING SERVICE AND PLANS that other receivables factoring firms don't and simply can't.


How can you prove this? Here's our proof, over 40 percent of our new business growth comes from existing client referrals. It's pretty well known that clients don't give referrals in a helter-skelter way. Especially since their reputation is on the line, nobody wants to risk giving a bad referral; it can make you look bad. They make recommendations to help their business friends and it feels great to provide support.

HERE'S WHY OUR CLIENTS HAPPILY REFER US.

Let's cut to the chase,no other receivables factoring firm matches our benchmarks of superior service and products.

 

As you can see, we quite frankly have more to offer you.

Other factoring companies are not even in the ballpark.

Dallas

And Not All Factoring Companies Can State This:

Over half of our new business comes through client referrals.

HERE ARE JUST A FEW OF THE BENEFITS YOU Get WITH FACTORING:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Information for the city of Dallas

In its beginnings, Dallas relied on farming, neighboring Fort Worth's Stockyards, and its prime location on Native American trade routes to sustain itself. Dallas' key to growth came in 1873 with the building of multiple rail lines through the city. As Dallas grew and technology developed, cotton became its boon and by 1900 Dallas was the largest inland cotton market in the world, becoming a leader in cotton gin machinery manufacturing. By the early 1900s Dallas was a hub for economic activity all over the Southern United States and was selected in 1914 as the seat of the Eleventh Federal Reserve District. By 1925 Texas churned out more than ? of the nation's cotton crop, with 31% of Texas cotton produced within a 100 mile (160 km) radius of Dallas. In the 1930s petroleum was discovered east of Dallas near Kilgore, Texas.

 

Dallas' proximity to the discovery put it immediately at the center of the nation's petroleum market. Petroleum discoveries in the Permian Basin, the Panhandle, the Gulf Coast, and Oklahoma in the following years further solidified Dallas' position as the hub of the market.The end of World War II left Dallas seeded with a nexus of communications, engineering, and production talent by companies. Decades later, the telecommunications and information revolutions still drive a large portion of the local economy. The city is sometimes referred to as the heart of "Silicon Prairie" because of a high concentration of telecommunications companies in the region, the epicenter of which lies along the Telecom Corridor located in Richardson, a northern suburb of Dallas. The Corridor is home to more than 5,700 companies including.In the 1980s Dallas was a real estate hotbed, with the increasing metropolitan population bringing with it a demand for new housing and office space. Several of Downtown Dallas' largest buildings are the fruit of this boom, but over speculation and the savings and loan crisis prevented any further additions to Dallas' skyline.

 

Between the late 1980s and the early 2000s, central Dallas went through a slow period of growth and has only recently recovered. Since 2000, the real estate market in the Dallas Fort Worth metroplex has been relatively resilient. However, Dallas is among the largest cities in the U.S. where rent declined significantly. Whereas the national decline in rent is approximately 4%, Dallas rent declined an average of 8% in early 2010.Texas Instruments, a major manufacturer, employs 10,400 people at its corporate headquarters and chip plants in Dallas. Defense and aircraft manufacturing dominates the economy of nearby Fort Worth.The Dallas Fort Worth Metroplex has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States. The city of Dallas has 12 Fortune 500 companies, and the DFW region as a whole has 20. In 2007 08, the world's largest breast cancer organization was founded and is headquartered in Dallas.In addition to its large number of businesses, Dallas has more shopping centers per capita than any other city in the United States and is also home to the second shopping center ever built in the United States, Highland Park Village, which opened in 1931.

 

Dallas is home of the two other major malls in North Texas, the Dallas Galleria and NorthPark Center, which is the 2nd largest mall in Texas. Both malls feature high end stores and are major tourist draws for the region.[]According to magazine's annual list of "The Richest People in America" published September 21, 2011, the city itself is now home to 17 billionaires, up from 14 in 2009. In 2009 (with 14 billionaires) the city placed 6th worldwide among cities with the most billionaires. The ranking does not even take into account the 8 billionaires who live in the neighboring city of Fort Worth. In 2013, also ranked Dallas No. 13 on its list of the Best Places for Business and Careers.Dallas is currently the third most popular destination for business travel in the United States, and the Dallas Convention Center is one of the largest and busiest convention centers in the country, at over 1,000,000 square feet (93,000 m2), and the world's single largest column free exhibit hall

 

 

Information for the state of Texas

Mineral resources compete with industry for primary economic importance in Texas. The state is the leading U.S. producer of oil, natural gas, and natural-gas liquids, despite recent production declines. It is also a major producer of helium, salt, sulfur, sodium sulfate, clays, gypsum, cement, and talc. Texas manufactures an enormous variety of products, including chemicals and chemical products, petroleum, food and food products, transportation equipment, machinery, and primary and fabricated metals. The development and manufacture of electronic equipment, such as computers, has in recent decades become one of the state's leading industries; the area around Dallas and Fort Worth has become known as "Silicon Prairie," a name now also extended to Austin and its suburbs.

 

Agriculturally, Texas is one of the most important states in the country. It easily leads the nation in producing cattle, cotton, and cottonseed. Texas also has more farms, farmland, sheep, and lambs than any other state. Principal crops are cotton lint, grains, sorghum, vegetables, citrus and other fruits, and rice; the greatest farm income is derived from cattle, cotton, dairy products, and greenhouse products. Hogs, wool, and mohair are also significant. Among other important Texas crops are melons, wheat, pecans, oats, and celery. Texas also has an important commercial fishing industry. Principal catches are shrimp, oysters, and menhaden

 

Providing unrivaled receivables factoring firms services for
Dallas , Texas companies and nationwide-map

 

We relieve your headaches and stress of collecting on accounts receivables.  

 

The main benefit of factoring is that a business is not required to wait one or two months (sometimes more) for payment by a customer, the business will receive cash in hand to operate and grow their business. -Dallas Factoring Companies

 

 

 

RECEIVABLES MYSTERIOUSLY DISAPPEAR FROM THE BOOKS  

Dallas Factoring Companies Articles

receivables factoring Companies – Benefits

 

receivables factoring companies offer a wide variety of benefits to businesses. receivables factoring companies conduct financial business by allowing a business to sell its invoices to a factor (also known as a third party business or individual.) The price that the business charges is discounted in order to sell the invoices that are currently held, and make the cash that is immediately needed for any type of expenditures involving the business. A business that has immediate cash needs, but has no cash to pay for the expenditures that has occurred often ends up going under and eventually shutting down completely. This takes a lot of jobs away from people, and can leave you working for someone else, no longer running for your business. No one wants to take this large step down from the current place that they are in. A business owner has worked incredibly hard to get to where he or she currently is, and does not deserve to have their business become obsolete. This is where the receivables factoring companies can be a huge help to businesses.

 

receivables factoring

 

Keep in mind that receivables factoring companies do not use the same process as invoice discounting. Instead, invoice receivables factoring (also called the “Assignment of Accounts Receivable” by the FASB and GAAP) is the sale of invoices, instead of invoice discounting which involves collateral in order to ensure that the individual who took out the invoice discounting loan will pay it back. receivables factoring is not a loan; instead, receivables factoring is the sale of invoices in order to get immediate cash. There is no loan in the process of receivables factoring, and you will never have to pay the money back.

 

Since the invoices that are sold are also called receivables, the entire process of receivables factoring is usually called the sale of receivables. receivables factoring is much better than trying to take a loan out from the bank. Banks charge interest on any type of loan, and although there is usually collateral, it can put you in even more debt than you currently are. In addition, receivables factoring companies are never going to give you a loan. When a receivables factoring company funds your discounted receivable, he or she will choose to buy the receivable, giving you cash immediately. This cash can pull your entire business out of the hole that it is currently in. Instead of taking a loan out and getting yourself further into debt, receivables factoring allows you to simply sell your own invoices and get back most of the money that you originally put into them. Although this may seem like a bad process since you are selling valuable invoices, it is important to do, as the invoices are completely useless if your entire business goes under. Instead of trying to take a loan out to keep all of your receivables (invoices) receivables factoring companies benefit you directly by giving you the cash you need.

 

Benefits of receivables factoring Companies

 

When you are in a bind and really need money in order to get through the next few months, it can be very troublesome. Although the first thought in most peoples' minds would be to visit the nearest bank as soon as possible and take out some kind of loan, this is very dangerous. Although the loan may hold your business over for the next few months, it is simply delaying the same money crunch you already had. Unless your business is making an incredible amount of money, the bank loan that you took out has increased in the price that you must pay bank. Interest on a bank loan is how the banks make money and survive. Many loans have a very high interest rate, and if you are unable to pay the loan back in a short amount of time, you are going to be in more of a money crunch than you originally were in. In order to pay back the loan, you would have to make a large amount of money in a very short time, which is unlikely if you needed to take out the loan in the first place.

 

Rather than bothering with bank loans that will inevitably put you back in the money hole that you were in when you took it out, receivables factoring companies are available to help you. A receivables factoring company is a place where businesses can place their invoices for sale at a discounted price, which will allow them to receive immediate cash. As aforementioned, this money does not need to be paid back, as it is not a loan. Keep in mind, you are not selling your business. You are selling invoices in order to keep your business growing. You will be able to get more invoices in the future when your business is back up and running, but if you do not sell these invoices, you will never be back up and running.

 

When you are in a money crunch, don't put yourself back in the money hole that you are in by taking out a bank loan. Utilize receivables factoring companies in order to get immediate cash that will help you get back up and running without putting a loan on your business.

 

 

 

You Can Find More Best Factoring Companies For Truckers Information at  Chicago factoring companies
and at Oklahoma Trucking Factoring Companies

 

 

 

 

 

Dallas Factoring Companies Articles

The Basics of Invoice Factoring: Choosing a receivables factoring Company

 

Probably the biggest frustration for business to business (B2B) companies is waiting to get paid. Anyone involved in a seasonal business, long payment cycle, or lumpy cash flow will be able to relate to this statement. Some customers are very slow payers (of course corporate clients and governments come to mind!) and other customers demand generous terms.

 

Explaining Invoice Factoring

 

Basically, with invoice factoring your current but unpaid invoices are turned into cash – it's a financing solution for businesses. Other terms used for factoring are 'Accounts Receivable Financing', 'Invoice Financing 'and 'Receivables Financing'. Because many clients demand generous terms, it means that invoices can remain unpaid for anywhere between 30 and 90 days; while in the meantime you're left without cash and falling behind on important expenses, such as payroll, and missing opportunities to grow your business. And this is where factoring comes in: factoring reduces, and sometimes eliminates the frustration of unpaid accounts.

 

A receivable financing transaction usually involves three parties, and these are the company that initially issues the invoice, the customer who is required to pay the invoice (otherwise known as the account debtor), and the 'factor', which is the financing company prepared to supply the cash.

 

Explaining Invoice Financing

 

An invoice is issued to a customer after a company has delivered a service or product. This invoice will now be sold to the factor and, in return, the company will receive a cash advance: this will usually be between 70% and 90% of the invoice's value. With this cash the company finds it easier to pay employees; plus, it can now purchase supplies, materials, and inventory, and it can take on more work. Once the debtor pays their invoice the business will receive a rebate for the rest of the funds, less a fee which will be based on the value of the invoice and the term. This type of financial agreement benefits all three parties: the customer receives cash almost immediately, the debtor gets favorable payment terms, and the receivables factoring company collects a fee.

 

Explaining the Difference between Traditional Bank Financing and Invoice Financing

 

There are, of course, both drawbacks and benefits to this type of financing for businesses. The obvious benefits of factoring are a simpler application process, quicker funding, and higher approval rates when compared to bank lending. Having access to cash allows a business to grow, to meet payroll, achieve supplier discounts for bulk purchases or early payment, and to purchase equipment in order to improve productivity.

 

Factoring has a very simple application process which eliminates some of the main hurdles placed on small businesses by banks. The speed of funding with receivables factoring offers businesses the opportunity to take advantage of opportunities as they arise. In addition, the high approval rates with factoring means that many more businesses qualify, even though they may have previously been declined by a bank. Another bonus is that funds received from factoring invoices can be used to supplement bank credit, if necessary.

 

On the other hand, when it comes to cost, a line-of-credit at a bank is less expensive than factoring; this is assuming that the business will be successful in their application to the bank and that they'll have access to the finance within a reasonable timeframe. Unfortunately, these applications are not always successful (four out of five companies are refused bank loans), while others find the whole process too discouraging.

 

Another possible issue with working with traditional factoring companies is that some of these companies will advise your customers that their invoices have been financed: this information can cause issues for some small businesses because they prefer to maintain control over all correspondence with their clients. Other receivables factoring companies actually take control of your account receivables. Our advice is that you look for a factoring company that's prepared to work on a non-notification basis.

 

Receivables Financing Has Become Good Business Sense

 

Today we see receivables factoring becoming quite commonplace in many industries, such as IT companies, professional services, wholesale trade, marketing, manufacturing companies and so on. Many, many industries are discovering the benefits of receivables financing.

 

Invoice factoring is an ideal solution for business-to-business companies who issue invoices payable within 15 to 90 days. Any B2B company who's experiencing rapid growth, long payment cycles, or lumpy cash flow, will benefit the most from accounts receivable factoring. On the other hand, businesses and business-to-consumer (B2C) companies that are paid on delivery and don't issue invoices would have no need of factoring services.

 

If you're interested in invoice financing and believe it may be an option for your business, see below for our tips on how to approach working with a receivables factoring company.

 

How to Work with an Invoice Factoring Company

 

There are many advantages to invoice financing, but it can be tricky working with some traditional factoring companies. Some receivables factoring companies don't have excellent customer service, and between confusing terms, long-term contracts, monthly minimums, and hidden penalties, the experience can be quite daunting. Our aim is to ensure that you get a fair deal when working with a factoring company, and please remember that, as always, if a deal sounds too good to be true, then it probably is!

 

You're Looking for Transparent Factoring Fees and Rates

 

Companies that make it difficult to work out their all-inclusive fees are companies who are working for their own advantage, so when determining pricing, transparency is key. If you're getting frustrated and not receiving direct answers, we suggest you move on to another factoring company that will be respectful of your time.

 

Another Word of Caution: Beware of receivables factoring companies who advertise low rates, which then increase when all their hidden fees come to light. We've heard of factoring companies who charge low monthly factoring rates, but you'll be charged for two months' even if the invoice was paid in one month and one day. We also know that some factors require monthly minimums, which means that you pay for financing even if it's not required. We strongly suggest that you read our article on factoring rates and tricks so that you approach factoring with knowledge and awareness.

 

Understanding Penalties, and How to Avoid Them

 

Be aware that some invoice factoring companies out there have hidden penalties. In order to avoid these penalties, you need to know why they occur. If you believe these penalties are out of proportion or unfair, then move on to another factor. It won't be long before you'll understand what fair and reasonable terms look like.

 

Read the Fine Print in Your Contract

 

In order to guarantee their profits, most factoring companies will try to lock you into a long-term contract. Obviously this is good business for the receivables factoring company, but it may not be so good for your business. You need to know what you're signing up for, so be aware of long-term contracts where you'll be charged exorbitant cancellation fees if you should decide to leave. Also, be aware that some long-term contracts include minimums, so consider this carefully: you may find yourself paying for something you're not using when you only needed the factoring company to meet occasional cash-flow needs. You shouldn't be forced to remain with a service that's not meeting your needs, so it's vitally important that you carefully read the fine print.

 

Customer Confidentiality

 

Once you start your research on factoring you'll discover that most receivables factoring companies operate on a notification basis, which means that when you sell your invoices to the factor, they notify your customers. They'll also ask that the funds be routed directly to the factoring company's bank account, instead of your account. This can be an issue for business owners who prefer to have control of all communications with their customers. If discretion is important to you and your business, we strongly suggest that your accounts receivable financing company provides non-notification receivables factoring, meaning that you retain control over customer communications. If this is not an option for your factoring company, then you need to move to a company that will provide non-notification factoring.

 

How Much Cash Will You Receive Upfront?

 

You'll receive an advance upfront, which is a percentage of the face value of the invoice. This advance will probably be somewhere between 70% and 90% of the invoice's face value. For example, let's say your customer owes you $1000: your advance payment should be somewhere between $700 and $900.

 

Factoring Minimums Compared with Single Invoice Discounting

 

You'll also notice in your research that many factors require small businesses to submit all invoices from certain customers. On the other hand, 'single invoice discounting', also known as 'spot factoring', means that the business concerned determines which invoices will be sent to the factoring company for advance payment. Make sure you understand your receivables factoring company's terms before you sign anything. Single invoice discounting or spot factoring is generally the preferred method for small businesses because it enables you to retain control over your financing by determining which invoices will be sent for factoring.

 

Choosing Your receivables factoring Company

 

Think about all the above criteria, and look for a business partner who will provide your business with the best combination of flexibility, features, and terms that you require. By doing a little research you'll soon find a partner and an agreement that offers you the flexibility, funds, terms, and transparency that work best for you. Your aim is to find a partner that you'll be happy to work with long-term, so don't settle for anything less.

 

 

 

 

You Can Find More Best Factoring Companies For Truckers Information at  Chicago factoring companies
and at Oklahoma Trucking Factoring Companies

 

 

 

Dallas Factoring Companies Articles

How receivables factoring Companies Help transportation Companies

 

Commercial transportation play a vital role in the economic growth of any place; and the back bone of this large scale transportation is the transportation companies. Every transportation firm has contributed to the economic development of the place irrespective of how big or small they are. It is these transportation services that take the goods around by road or deliver goods on the shores or to the airport to be transported overseas. Unfortunately these companies face a lot of operational issues with relation to hikes in fuel prices and a credit period which affects their cash flow.

 

Are you heading one of these transportation companies and facing issues with operating costs? You are not alone and there is a solution. receivables factoring companies provide you the much needed relief by facilitating cash flow by using your accounts receivables. The operations of these companies are different from bank loans as it does not affect the debt to equity ratio. Here is a small instance to explain their role in making your transportation company a success. Consider a small firm with around 10 trucks. The firm is doing very well and is able to manage its operations efficiently. But it's not able to accommodate new clients due to lack of trucks and delay in payments from his current customers by 45-60 days. receivables factoring companies step in the gap, they buy your invoices and give you the cash you need to buy the new trucks and meet other expenses. These firms wait for the customer's to make their payments and you get to move on. This article throws light on how these receivables factoring companies help transportation companies and why all transportation companies should use them.

 

Answers Concerns on Operating Costs

 

receivables factoring companies work towards providing you timely funds by supplying you the required amount as they wait for your customer to make payments. This allows you to make payments to your employees on time, pay off bills and fulfill other business commitments with ease. You also have the cash to repair your trucks in time to prolong the life of the vehicle. receivables factoring firms facilitate the smooth running of your business by eliminating the waiting period; especially considering the fact that some customers take 60-90 days to make payments. The best part is you use this service without facing any concerns about liquidity and this is why all transportation companies should use them.

 

Prevents and Eliminates Further Debt

 

receivables factoring firms bring in stability and avoid situations where you may require loans. Avoiding loans helps in keeping the debt to equity ratio low. This in turn improves your image and helps you take steps towards paying off your outstanding loans. Paying off bills on time therefor keeping your suppliers happy. The fees taken by receivables factoring company is decided on the financial situation of the transportation firm and is usually 1-3 percent of the invoice value.

 

Offer Management Services

 

Managing your office is another option given by these companies. The service includes recording your accounts receivable, checking outstanding payments from customers and following up for timely payments. This gives you a hassle free environment to work and contribute to the growth of your business. In case you do not wish to hire them for managing your payment section, they provide online services for providing funds. You can send details in spreadsheets for requesting payment. They are quick to respond and precise in communication.

 

Checking Credit Worthiness of the Clients

 

receivables factoring companies maintain data on the credit history of prospective customers. They share this information with you once you begin working with them. This brings down the number of issues with non-payment and delayed payments. This is especially important for small and medium sized firms who are still growing and learning the intricacies of this business. It avoids getting in to situations which can jeopardize the sustainability of your company.

 

Cuts Down Over Head Cost

 

Hiring transportation receivables factoring companies for back office operations is beneficial in many ways. First of all you do not need another set of professionals to run your office. Apart from being an overhead cost, you can reduce your time managing them. Giving this section away to receivables factoring firms saves you a lot of precious time and money. And above all they provide high quality transparent service. With this you can stop chasing your customers for payments.

 

Builds Your Image

 

Time is precious and with transportation receivables factoring companies you get to use this resource efficiently. They take care of customer's payment schedule and replenishing your reserves as the situation demands. This gives you the financial backup to take your business to the next level. You get to make sound decisions about buying more trucks and paying off your debts to improve the credibility of your firm. Apart from this you also get to work on your firm's future. This will include knowing your new client requirements and understanding if you will be able to accommodate them. transportation receivables factoring companies help you run your business more smoothly.

 

Choosing the right receivables factoring company is essential for the smooth running of your business. Cost is only one of the determining factors when deciding on the firm. Verify their credibility and experience in this field before signing a contract. You may also want to know about online services and customer credit verification services if you are looking for a complete package. The time between placement of request and receiving of funds is vital. Be sure to understand all their terms and conditions before committing with a company.

 

transportation receivables factoring companies have redefined the operations of a transportation firm.. They have improved the effectiveness of small and medium sized firms. Gone are the days when smaller transportation companies had to shut down due to poor funds. receivables factoring companies step in the gap and give them the best chances of surviving and achieving success. Choose a reputed receivables factoring firm and soar to higher places sooner than expected.

 

 

 

 

 

Dallas Factoring Companies Articles

Healthcare Staffing And How To Use A receivables factoring Company The Right Way

 

The healthcare field is arguably one of the most rapidly growing industries in the United States. With the baby boomers, the largest section of our population, reaching retirement age the need for expanding healthcare services has never been more pronounced.

 

At the center of this growth are healthcare staffing agencies that hire for hospitals, clinics, doctor's offices and a wide range of medical facilities. However, while business is booming the ability for these staffing agencies to expand is inhibited by the customer invoice system. Fortunately, there are healthcare staffing receivables factoring companies around to help them in their time of need.

 

We asked the owner of a local healthcare staffing agency, Courtney Ramirez, to talk to us about how receivables factoring companies helped expand her business and provide a much needed boost at a critical time for her company.

 

“Hello Courtney and welcome. I was hoping you would tell us a little about how healthcare staffing receivables factoring companies helped your business, but I suppose we should begin by how you got started in this business?”

 

Courtney Ramirez (Courtney), “Thanks for having me. I actually have been a part of several start-up businesses in my recent career and was looking for a field that would show a lot of promise. It was pretty clear to me that medical staffing was a big need in the healthcare field so I set about to start my own business. I had experience in starting up businesses before, so I drew up a business plan, took out a loan, rented the offices and hired a staff to get started.”

 

“So, you did what most people do in starting up a business. How did it do?”

 

Courtney: “I actually got off to a pretty good start. I had made a few contacts and managed to get some business right away. This was really helpful because as you might know our clients use invoices for payments and it can take up to 90 days before we actually get the cash in hand. Around four months in we were facing a real crossroads as new opportunities opened up for our business, but we didn't have the cash on hand to take advantage.”

 

“I'm a little confused. You say you were doing well, but you didn't have the ability to expand your business?”

 

Courtney: “That's right. The problem was back to the invoices that were making up wait up to 3 months before we had the cash. I really wanted to expand my staffing business to handle the new opportunities I was being presented, but I couldn't because I was still waiting on the invoices to finally turn to cash. So I was asking my accountant about what could be done when the suggestion of a healthcare staffing receivables factoring company was introduced.”

 

“Tell us a bit more about receivables factoring companies.”

 

Courtney: “Basically, receivables factoring companies purchase the invoices right on the spot so you can have cash on hand immediately instead of waiting up to three months. For healthcare staffing receivables factoring companies, they will then collect the money from the business when the invoice is read to be fully paid. It really worked out for me because I was able to get cash quickly to add new personnel and even expand my offices to include another section of the building I was renting in.”

 

“I understand that receivables factoring companies are there for many different kinds of businesses, including medical staffing. Was it difficult to get set up with a receivables factoring company?”

 

Courtney: Actually, it was pretty easy once we found a company that met our needs. I just filled out a short form and they looked over a few of the invoices I had to see what companies that I worked with. It really didn't take long at all before they agRamirez to cash some of the invoices and I got the money I needed to expand.”

 

“Could you tell me a little more about the advantages of using a receivables factoring company like this?”

 

Courtney: “Sure, I was not only able to hire a couple of new people and rent additional space, I've been able to cash my invoices when unexpected bills come up or if I need to make a purchase quickly for a new piece of equipment. This has come in really handy recently when I decided to move to a new location and needed some cash on hand to make the transition. The receivables factoring services are really quite good with reasonable rates and fast service.”

 

“What's the differences in using receivables factoring companies over getting a new loan?”

 

Courtney: “It is frankly much better than getting a loan because with receivables factoring there is nothing to pay back. We are basically getting our own money from the invoices we've earned up front and paying only a small fee. With a loan, I would not only have to pay it back but with interest as well. receivables factoring for us has really been a godsend when it comes to making decisions about how to expand my business. I'm no longer tied down to waiting 2 to 3 months to get paid when I can take what my business has earned and get cash immediately.”

 

“I take it that you are happy with how healthcare staffing receivables factoring has worked out for you?”

 

Courtney: “You would be correct. I cannot imagine how my business would have expanded at that critical time without receivables factoring companies to buy my invoices. This is a great service that has helped me in my time of need and now my medical staffing business is bigger than ever. I'd recommend receivables factoring companies to anyone running a business that relies on invoices if they need to get cash quickly.”

 

There is little doubt that Courtney Ramirez has been quite happy about the services she received working with a receivables factoring company. Perhaps receivables factoring is right for you and your needs, be sure to search for the type of receivables factoring business that works in your field so that you can get the right services in helping your company to succeed.

 

 

You Can Find More Best Factoring Companies For Truckers Information at  Chicago factoring companies
and at Oklahoma Trucking Factoring Companies

 

 

 

 

 

 

You Can Find More Information at  ocf.com
and at factoringfortruckingcompany.com

Call Us Today at: 1-888-239-9162

 

Watch our Factoring Company Video below to see how we work for you.

 

 


 

You Can Find More Best Factoring Companies For Truckers Information at  Truckingfactors.Org
and at Truck Factor

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Jane Doe

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transportation industry!

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A little history on the Trucking Industry

 

The Logistics and Transportation Industry in the United States

The logistics and transportation industry in the United States is highly competitive. By investing in this sector, multinational firms position themselves to better facilitate the flow of goods throughout the largest consumer market in the world.. International and domestic companies in this industry benefit from a highly skilled workforce and relatively low costs and regulatory burdens.

 

Shipping Port

 

Spending in the U.S. logistics and transportation industry totaled $1.33 trillion in 2012, and represented 8.5 percent of annual gross domestic product (GDP). Analysts expect industry investment to correlate with growth in the U.S. economy.

 

A highly integrated supply chain network in the United States links producers and consumers through multiple transportation modes, including air and express delivery services, freight rail, maritime transport, and truck transport. To serve customers efficiently, multinational and domestic firms provide tailored logistics and transportation solutions that ensure coordinated goods movement from origin to end user through each supply chain network segment.

 

Industry Subsectors

 

Logistics services: This subsector includes inbound and outbound transportation management, fleet management, warehousing, materials handling, order fulfillment, logistics network design, inventory management, supply and demand planning, third-party logistics management, and other support services. Logistics services are involved at all levels in the planning and execution of the movement of goods.

 

Air and express delivery services (EDS): Firms offer expedited, time-sensitive, and end-to-end services for documents, small parcels, and high-value items. EDS firms also provide the export infrastructure for many exporters, particularly small and medium-sized businesses that cannot afford to operate their own supply chain.

 

 

Truck Load Factor

 

Freight rail: High volumes of heavy cargo and products are transported long distances via the U.S. rail tracking network. Freight rail moves more than 70 percent of the coal, 58 percent of its raw metal ores, and more than 30 percent of its grain for the nation. This subsector accounted for approximately one third of all U.S. exports.

 

Maritime: This subsector includes carriers, seaports, terminals, and labor involved in the movement of cargo and passengers by water. Water transportation carries about 78 percent of U.S. exports by tonnage, via both foreign-flag and U.S.-flag carriers.

 

Trucking: Over-the-road transportation of cargo is provided by motor vehicles over short and medium distances. The American Trucking Associations reports that in 2012, trucks moved 9.4 billion tons of freight, or about 68.5 percent of all freight tonnage transported domestically. Motor carriers collected $642 billion in revenues, or about 81 percent of total revenue earned by all domestic transport modes.

 

 

Industry Associations:

 

American Association of Port Authorities
American Society of Transportation and Logistics
American Trucking Associations
Association of American Railroads
Council of Supply Chain Management Professionals
Express Delivery and Logistics Association
Industry Publications:

 

American Shipper
Journal of Commerce
Material Handling & Logistics
Transport Intelligence
Transport Topics

 

North American Industry Classification System For Transportation

 

The Transportation and Warehousing sector includes industries providing transportation of passengers and cargo, warehousing and storage for goods, scenic and sightseeing transportation, and support activities related to modes of transportation. Establishments in these industries use transportation equipment or transportation related facilities as a productive asset. The type of equipment depends on the mode of transportation. The modes of transportation are air, rail, water, road, and pipeline.

 

The Transportation and Warehousing sector distinguishes three basic types of activities: subsectors for each mode of transportation, a subsector for warehousing and storage, and a subsector for establishments providing support activities for transportation. In addition, there are subsectors for establishments that provide passenger transportation for scenic and sightseeing purposes, postal services, and courier services.

 

A separate subsector for support activities is established in the sector because, first, support activities for transportation are inherently multimodal, such as freight transportation arrangement, or have multimodal aspects. Secondly, there are production process similarities among the support activity industries.

 

One of the support activities identified in the support activity subsector is the routine repair and maintenance of transportation equipment (e.g., aircraft at an airport, railroad rolling stock at a railroad terminal, or ships at a harbor or port facility). Such establishments do not perform complete overhauling or rebuilding of transportation equipment (i.e., periodic restoration of transportation equipment to original design specifications) or transportation equipment conversion (i.e., major modification to systems). An establishment that primarily performs factory (or shipyard) overhauls, rebuilding, or conversions of aircraft, railroad rolling stock, or a ship is classified in Subsector 336, Transportation Equipment Manufacturing according to the type of equipment.

 

Many of the establishments in this sector often operate on networks, with physical facilities, labor forces, and equipment spread over an extensive geographic area.

 

Truck Transportation

 

 

You Can Find More Best Factoring Companies For Truckers Information at  Factoring Trucking Industry
and at Myfactoringcompany.Com

 

Industries in the Truck Transportation subsector provide over-the-road transportation of cargo using motor vehicles, such as trucks and tractor trailers. The subsector is subdivided into general freight trucking and specialized freight trucking. This distinction reflects differences in equipment used, type of load carried, scheduling, terminal, and other networking services. General freight transportation establishments handle a wide variety of general commodities, generally palletized, and transported in a container or van trailer. Specialized freight transportation is the transportation of cargo that, because of size, weight, shape, or other inherent characteristics require specialized equipment for transportation.

 

Each of these industry groups is further subdivided based on distance traveled. Local trucking establishments primarily carry goods within a single metropolitan area and its adjacent nonurban areas. Long distance trucking establishments carry goods between metropolitan areas.

 

The Specialized Freight Trucking industry group includes a separate industry for Used Household and Office Goods Moving. The household and office goods movers are separated because of the substantial network of establishments that has developed to deal with local and long-distance moving and the associated storage. In this area, the same establishment provides both local and long-distance services, while other specialized freight establishments generally limit their services to either local or long-distance hauling.

 

General Freight Trucking

 

This industry group comprises establishments primarily engaged in providing general freight trucking. General freight establishments handle a wide variety of commodities, generally palletized, and transported in a container or van trailer. The establishments of this industry group provide a combination of the following network activities: local pickup, local sorting and terminal operations, line-haul, destination sorting and terminal operations, and local delivery.

 

General Freight Trucking, Local

 

This industry comprises establishments primarily engaged in providing local general freight trucking. General freight establishments handle a wide variety of commodities, generally palletized and transported in a container or van trailer. Local general freight trucking establishments usually provide trucking within a metropolitan area which may cross state lines. Generally the trips are same-day return.

 

General Freight Trucking, Long-Distance

 

This industry comprises establishments primarily engaged in providing long-distance general freight trucking. General freight establishments handle a wide variety of commodities, generally palletized and transported in a container or van trailer. Long-distance general freight trucking establishments usually provide trucking between metropolitan areas which may cross North American country borders. Included in this industry are establishments operating as truckload (TL) or less than truckload (LTL) carriers.

 

General Freight Trucking, Long-Distance, Truckload

 

This U.S. industry comprises establishments primarily engaged in providing long-distance general freight truckload (TL) trucking. These long-distance general freight truckload carrier establishments provide full truck movement of freight from origin to destination. The shipment of freight on a truck is characterized as a full single load not combined with other shipments.

 

General Freight Trucking, Long-Distance, Less Than Truckload

 

This U.S. industry comprises establishments primarily engaged in providing long-distance, general freight, less than truckload (LTL) trucking. LTL carriage is characterized as multiple shipments combined onto a single truck for multiple deliveries within a network. These establishments are generally characterized by the following network activities: local pickup, local sorting and terminal operations, line-haul, destination sorting and terminal operations, and local delivery.

 

Specialized Freight Trucking

 

This industry group comprises establishments primarily engaged in providing local or long-distance specialized freight trucking. The establishments of this industry are primarily engaged in the transportation of freight which, because of size, weight, shape, or other inherent characteristics, requires specialized equipment, such as flatbeds, tankers, or refrigerated trailers. This industry includes the transportation of used household, institutional, and commercial furniture and equipment.

 

 

Factoring For Trucking

 

Used Household and Office Goods Moving

 

This industry comprises establishments primarily engaged in providing local or long-distance trucking of used household, used institutional, or used commercial furniture and equipment. Incidental packing and storage activities are often provided by these establishments. Specialized Freight (except Used Goods) Trucking, Local

 

Specialized Freight (except Used Goods) Trucking, Long-Distance

 

This industry comprises establishments primarily engaged in providing long-distance specialized trucking. These establishments provide trucking between metropolitan areas that may cross North American country borders.

 

You Can Find More Best Factoring Companies For Truckers Information at  JASONSLOAN.ORG
Freight Broker

 

A freight broker is an individual or company that serves as a liaison between another individual or company that needs shipping services and an authorized motor carrier. Though a freight broker plays an important role in the movement of cargo, the broker doesn't function as a shipper or a carrier. To operate as a freight broker, a business or individual must obtain a license from the Federal Motor Carrier Safety Administration (FMCSA). Freight brokers are required to carry surety bonds as well.

 

Freight broker services are valuable to both shippers and motor carriers. Freight brokers help shippers find reliable carriers that might otherwise be difficult to locate. They assist motor carriers in filling their trucks and earning money for transporting a wide variety of items. For their efforts, freight brokers earn commissions.

 

Freight brokers use their knowledge of the shipping industry and technological resources to help shippers and carriers accomplish their goals. Many companies find the services provided by freight brokers indispensable. In fact, some companies hire brokers to coordinate all of their shipping needs.

 

Often, freight brokers are confused with forwarders. Though a freight forwarder performs some of the same tasks as a freight broker, the two are not the same. A forwarder takes possession of the items being shipped, consolidates smaller shipments, and arranges for the transportation of the consolidated shipments. By contrast, a freight broker never takes possession of items being shipped thus in the absence of negligent entrustment, a freight broker is not normally involved as a party litigant in a cargo claim dispute, although as an accommodation, the freight broker may assist the shipper at their request and expense with filing freight claims.

 

 

What Is Freight Factoring

 

NAICS Index Description

 

 

Factoring For Trucking

 

484110 Bulk mail truck transportation, contract, local
484110 Container trucking services, local
484110 General freight trucking, local
484110 Motor freight carrier, general, local
484110 Transfer (trucking) services, general freight, local
484110 Trucking, general freight, local
484121 Bulk mail truck transportation, contract, long-distance (TL)
484121 Container trucking services, long-distance (TL)
484121 General freight trucking, long-distance, truckload (TL)
484121 Motor freight carrier, general, long-distance, truckload (TL)
484121 Trucking, general freight, long-distance, truckload (TL)
484122 General freight trucking, long-distance, less-than-truckload (LTL)
484122 LTL (less-than-truckload) long-distance freight trucking
484122 Motor freight carrier, general, long-distance, less-than-truckload (LTL)
484122 Trucking, general freight, long-distance, less-than-truckload (LTL)
484210 Furniture moving, used
484210 Motor freight carrier, used household goods
484210 Trucking used household, office, or institutional furniture and equipment
484210 Used household and office goods moving
484210 Van lines, moving and storage services
484220 Agricultural products trucking, local
484220 Automobile carrier trucking, local
484220 Boat hauling, truck, local
484220 Bulk liquids trucking, local
484220 Coal hauling, truck, local
484220 Dry bulk trucking (except garbage collection, garbage hauling), local
484220 Dump trucking (e.g., gravel, sand, top soil)
484220 Farm products hauling, local
484220 Flatbed trucking, local
484220 Grain hauling, local
484220 Gravel hauling, local
484220 Livestock trucking, local
484220 Log hauling, local
484220 Milk hauling, local
484220 Mobile home towing services, local
484220 Refrigerated products trucking, local
484220 Rubbish hauling without collection or disposal, truck, local
484220 Sand hauling, local
484220 Tanker trucking (e.g., chemical, juice, milk, petroleum), local
484220 Top-soil hauling, local
484220 Tracked vehicle freight transportation, local
484220 Trucking, specialized freight (except used goods), local
484230 Automobile carrier trucking, long-distance

 

 

Factoring Transportation Receivables

 

 

484230 Boat hauling, truck, long-distance
484230 Bulk liquids trucking, long-distance
484230 Dry bulk carrier, truck, long-distance
484230 Farm products trucking, long-distance
484230 Flatbed trucking, long-distance
484230 Forest products trucking, long-distance
484230 Grain hauling, long-distance
484230 Gravel hauling, long-distance
484230 Livestock trucking, long-distance
484230 Log hauling, long-distance
484230 Mobile home towing services, long-distance
484230 Radioactive waste hauling, long-distance
484230 Recyclable material hauling, long-distance
484230 Refrigerated products trucking, long-distance

 

 

484230 Refuse hauling, long-distance
484230 Rubbish hauling without collection or disposal, truck, long-distance
484230 Sand hauling, long-distance
484230 Tanker trucking (e.g., chemical, juice, milk, petroleum), long-distance
484230 Tracked vehicle freight transportation, long-distance
484230 Trash hauling, long-distance
484230 Trucking, specialized freight (except used goods), long-distance
484230 Waste hauling, hazardous, long-distance
484230 Waste hauling, nonhazardous, long-distance

 

 

 

 

 

Texas Oilfield Factoring Services

Get CASH NOW for your outstanding invoices.

 

We understand the oil and gas industry and know the challenges that oilfield service providers face. We provide oilfield factoring services for many types of businesses in the Permian Basin and Eagle Ford Basin and nationwide including the following:

 

• Acidifying & Cementing
• Aggregate
• Conductor Services
• Crude Haulers
• Disposal Wells/Sites
• Drillers
• Drilling Equipment Suppliers
• Environmental Clean Up
• Equipment Hauling
• Equipment Rentals
• Excavating
• Excavators
• Fishing Services
• Flatbed Carriers
• Flow-back Testing
• Fly Ash
• Frac Sand Haulers
• Frac Tank Cleaning
• Gravel Haulers
• Gravel Pit/Suppliers
• Hot Shots
• Logging
• Mud Hauling
• Open Pit Services
• Open Tank Services
• Pad Builders
• Paraffin Services
• Pipe Cleaning
• Pipe Hauling
• Pipe Construction
• Pipeline Inspection
• Pit Clean Up
• Plugging Contractors
• Pneumatic
• Pressure Washing
• Refinery Maintenance
• Rig Movers
• Rig Transportation
• Road Construction
• Roustabouts
• Scoria Pit/Suppliers
• Site Preparation
• Slick-line Services
• Spill Clean Up
• Tank Manufacturers
• Testing Services
• Vacuum Trucks
• Water Haulers
• Water Purification
• Welding
• Well Servicing
• Winch Trucks
• Wire-line Services
• And many more…

 

Most of the energy consumed in the United States comes from fossil fuels (petroleum, coal, and natural gas). These fossil fuels and crude oil-based petroleum products are the major sources of energy used in the United States.

What is crude oil and what are petroleum products?

 

Crude oil is a mixture of hydrocarbons that formed from plants and animals that lived millions of years ago. Crude oil is a fossil fuel, and it exists in liquid form in underground pools or reservoirs, in tiny spaces within sedimentary rocks, and near the surface in tar (or oil) sands. Petroleum products are fuels made from crude oil and other hydrocarbons contained in natural gas. Petroleum products can also be made from coal, natural gas, and biomass.

Products made from crude oil

 

After crude oil is removed from the ground, it is sent to a refinery where different parts of the crude oil are separated into useable petroleum products. These petroleum products include gasoline, distillates such as diesel fuel and heating oil, jet fuel, petrochemical feedstocks, waxes, lubricating oils, and asphalt.A U.S 42-gallon barrel of crude oil yields about 45 gallons of petroleum products in U.S. refineries because of refinery processing gain. This increase in volume is similar to what happens to popcorn when it is popped.

The United States is one of the largest crude oil producers

 

U.S. refineries obtain crude oil produced in the United States and in other countries. Different types of companies supply crude oil to the world market.

Where is U.S. crude oil produced?

 

Crude oil is produced in 32 U.S. states and in U.S. coastal waters. In 2017, about 65% of total U.S. crude oil production came from five states:

 

• Texas—38%
• North Dakota—11%
• Alaska—5%
• California—5%
• New Mexico—5%

 


In 2017, about 18% of U.S. crude oil was produced from wells located offshore in the federally administered waters of the Gulf of Mexico.

 

Although total U.S. crude oil production generally declined between 1985 and 2008, annual production increased from 2009 through 2015. Production declined slightly in 2016 and increased in 2017. More cost-effective drilling technology helped to boost production, especially in Texas, North Dakota, Oklahoma, New Mexico, and Colorado.

 

What is natural gas?

 

Natural gas is a fossil energy source that formed deep beneath the earth's surface. Natural gas contains many different compounds. The largest component of natural gas is methane, a compound with one carbon atom and four hydrogen atoms (CH4). Natural gas also contains smaller amounts of natural gas liquids (NGL; which are also hydrocarbon gas liquids), and nonhydrocarbon gases, such as carbon dioxide and water vapor. We use natural gas as a fuel and to make materials and chemicals.

How did natural gas form?

 

Millions to 100’s of millions of years ago and over long periods of time, the remains of plants and animals (such as diatoms) built up in thick layers on the earth’s surface and ocean floors, sometimes mixed with sand, silt, and calcium carbonate. Over time, these layers were buried under sand, silt, and rock. Pressure and heat changed some of this carbon and hydrogen-rich material into coal, some into oil (petroleum), and some into natural gas.

Where is natural gas found?

 

In some places, natural gas moved into large cracks and spaces between layers of overlying rock. The natural gas found in these types of formations is sometimes called conventional natural gas. In other places, natural gas occurs in the tiny pores (spaces) within some formations of shale, sandstone, and other types of sedimentary rock. This natural gas is referred to as shale gas or tight gas, and it is sometimes called unconventional natural gas. Natural gas also occurs with deposits of crude oil, and this natural gas is called associated natural gas. Natural gas deposits are found on land and some are offshore and deep under the ocean floor. A type of natural gas found in coal deposits is called coalbed methane.

How do we find natural gas?

 

The search for natural gas begins with geologists who study the structure and processes of the earth. They locate the types of geologic formations that are likely to contain natural gas deposits.Geologists often use seismic surveys on land and in the ocean to find the right places to drill natural gas and oil wells. Seismic surveys create and measure seismic waves in the earth to get information on the geology of rock formations. Seismic surveys on land may use a thumper truck, which has a vibrating pad that pounds the ground to create seismic waves in the underlying rock. Sometimes small amounts of explosives are used. Seismic surveys conducted in the ocean use blasts of sound that create sonic waves to explore the geology beneath the ocean floor.If the results of seismic surveys indicate that a site has potential for producing natural gas, an exploratory well is drilled and tested. The results of the test provide information on the quality and quantity of natural gas available in the resource.

Drilling natural gas wells and producing natural gas

 

If the results from a test well show that a geologic formation has enough natural gas to produce and make a profit, one or more production (or development) wells are drilled. Natural gas wells can be drilled vertically and horizontally into natural gas-bearing formations. In conventional natural gas deposits, the natural gas generally flows easily up through wells to the surface.In the United States and in a few other countries, natural gas is produced from shale and other types of sedimentary rock formations by forcing water, chemicals, and sand down a well under high pressure. This process, called hydraulic fracturing or fracking, and sometimes referred to as unconventional production, breaks up the formation, releases the natural gas from the rock, and allows the natural gas to flow to and up wells to the surface. At the top of the well on the surface, natural gas is put into gathering pipelines and sent to natural gas processing plants.

Natural gas is processed for sale and consumption

 

Natural gas withdrawn from natural gas or crude oil wells is called wet natural gas because, along with methane, it usually contains NGL—ethane, propane, butanes, and pentanes—and water vapor. Wellhead natural gas may also contain nonhydrocarbons such as sulfur, helium, nitrogen, hydrogen sulfide, and carbon dioxide, most of which must be removed from natural gas before it is sold to consumers. From the wellhead, natural gas is sent to processing plants where water vapor and nonhydrocarbon compounds are removed and NGL are separated from the wet gas and sold separately. Some ethane is often left in the processed natural gas. The separated NGL are called natural gas plant liquids (NGPL), and the processed natural gas is called dry, consumer-grade, or pipeline quality natural gas. Some wellhead natural gas is sufficiently dry and satisfies pipeline transportation standards without processing. Chemicals called odorants are added to natural gas so that leaks in natural gas pipelines can be detected. Dry natural gas is sent through pipelines to underground storage fields or to distribution companies and then to consumers.In places where natural gas pipelines are not available to take away associated natural gas produced from oil wells, the natural gas may be reinjected into the oil-bearing formation, or it may be vented or burned (flared). Reinjecting unmarketable natural gas can help to maintain pressure in oil wells to improve oil production.Coalbed methane can be extracted from coal deposits before or during coal mining, and it can be added to natural gas pipelines without any special treatment.Most of the natural gas consumed in the United States is produced in the United States. Some natural gas is imported from Canada and Mexico in pipelines. A small amount of natural gas is also imported as liquefied natural gasThe United States used about 27 trillion cubic feet (Tcf) of natural gas in 2017, the equivalent of 28 quadrillion British thermal units (Btu) and 29% of total U.S. primary energy consumption.Natural gas use by U.S. consuming sectors by amount and share of total U.S. natural gas consumption in 2017

 

• Industrial—9.51 Tcf—35
• Electric power—9.25 Tcf—34%
• Residential—4.41 Tcf—16%
• Commercial—3.16 Tcf—12%
• Transportation—0.77 Tcf—3%

 


How natural gas is used in the United States

 

Most U.S. natural gas use is for heating buildings and generating electricity, but some consuming sectors have other uses for natural gas.The industrial sector uses natural gas as a fuel for process heating, in combined heat and power systems, and as a raw material (feedstock) to produce chemicals, fertilizer, and hydrogen. In 2017, the industrial sector accounted for about 35% of U.S. natural gas consumption, and natural gas was the source of about 31% of the U.S. industrial sector's total energy consumption.The electric power sector uses natural gas to generate electricity. In 2017, the electric power sector accounted for about 34% of U.S. natural gas consumption, and natural gas was the source of about 26% of the U.S. electric power sector's energy consumption. Most of the electricity produced by the electric power sector is sold to and used by the other U.S. consuming sectors, and that electricity use is included in each sector’s total energy consumption. The other consuming sectors also use natural gas to generate electricity, and nearly all of this electricity is used by the sectors themselves.The residential sector uses natural gas to heat buildings and water, to cook, and to dry clothes. About half of the homes in the United States use natural gas for these purposes. In 2017, the residential sector accounted for about 16% of U.S. natural gas consumption, and natural gas was the source of about 23% of the U.S. residential sector's total energy consumption. The commercial sector uses natural gas to heat buildings and water, to operate refrigeration and cooling equipment, to cook, to dry clothes, and to provide outdoor lighting. Some consumers in the commercial sector also use natural gas as a fuel in combined heat and power systems. In 2017, the commercial sector accounted for about 12% of U.S. natural gas consumption, and natural gas was the source of about 18% of the U.S. commercial sector's energy consumption.The transportation sector uses natural gas as a fuel to operate compressors that move natural gas through pipelines and as a vehicle fuel in the form of compressed natural gas and liquefied natural gas. Nearly all vehicles that use natural gas as a fuel are in government and private vehicle fleets. In 2017, the transportation sector accounted for about 3% of total U.S. natural gas consumption. Natural gas was the source of about 3% of the U.S. transportation sector's energy consumption in 2017, of which 94% was for natural gas pipeline and distribution operations.

Where natural gas is used

 

Natural gas is used throughout the United States, but five states accounted for about 38% of total U.S. natural gas consumption in 2017:

 

• Texas—14.3%
• California—7.8%
• Louisiana—5.9%
• Florida—5.1%
• Pennsylvania—4.7%

 


Choose a U.S. State

Alabama oilfields

 

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Texas oilfields

 

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Virginia oilfields

 

Washington oilfields

 

West Virginia oilfields

 

Wisconsin oilfields

 

Wyoming oilfields

 

 

 

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Texas Staffing Factoring Services-About The Staffing industry

Who Staffing Invoice Factoring Is Right For

 

Due to the huge variety of positions recruited for and industries served, a staffing firm's invoices can be paid at unpredictable times. Payroll receivables factoring helps staffing companies overcome their cash flow management issues. If you are a staffing company with $5,000 to $50,000 per month of outstanding invoices, receivables factoring may be the solution for you.Staffing receivables factoring is mostly used by:

 

- General staffing companies
- Information (IT) staffing companies
- Temporary staffing companies
- Health care staffing companies
- Human resources (HR) consulting firms
- Headhunters
For the staffing industry, payroll receivables factoring has increasingly become an important lifeline. staffing companies typically aren't paid until placements have been on the job for two weeks, and sometimes three months for executives. That's a long time to wait for the cash you need to run your business.This problem can hurt staffing companies looking to put contract workers, or temp employees, into another organization. They will typically give 30- to 90-day terms to the business they're working with, but still have to pay these workers in the meantime. However, it can also hurt large executive recruiting firms who often work on a small retainer before they even know if they'll be paid.Some executive firms may not be able to use staffing receivables factoring until after they've placed an employee, but all temp agencies will be able to use a staffing receivables factoring product as soon as they place workers. Either way, staffing receivables factoring has become a lifeline for the industry to help them keep their expenses in check while they wait for their customers to pay.

 

About The Staffing Industry

 

5 Benefits of Using a Staffing Agency to Improve Quality of New Hires

 

1. Focus

 

Working with a staffing agency allows your team to stay focused on the tasks and tactics that make your business most profitable. With fewer tasks to be completed in-house, distractions are minimized. Let a staffing agency do the busy work of filling your candidate funnel and eliminating those who are not qualified or who are not likely to be a good fit for your company's culture.2. Expert Advice

 

staffing agency recruiters are trained and experienced experts who can efficiently sift through the hundreds - or even thousands - of responses your job posting may solicit and bring you a short list for consideration. What's more, their insights about candidates or their resumes can be invaluable in helping you decide which candidates should make the cut and move on to an interview.3. Better-Informed Candidates

 

Few things are more frustrating within the recruiting and hiring process as moving a candidate all the way through the process to the point of making an offer, only to discover that they had unrealistic expectations about the job, its salary range or responsibilities. One of the benefits of using a staffing agency is that they give candidates information about your company and the position ahead of time, so that candidates who want to self-select out of the process for any reason can do so, saving you time and resources in the process.4. Pre-Screened for the Fast Track

 

Recruiting and hiring processes can take months! You can short-cut the process by working with staffing companies who have already recruited, interviewed and pre-screened candidates who can be in place within a day or two, instead of weeks or months.5. Try Before You Buy Options

 

Having the ability to work with candidates on a trial basis as temporary employees placed through a staffing agency gives you the opportunity to bring in top talent and see how they fit within the team and perform without making a long-term commitment. It can be equally positive for candidates themselves as they have a chance to find out whether the job and your corporate culture is a good fit for them. If you have experienced the pain and high cost of making a bad hire, this reason alone might make the benefits of using a staffing agency preferable to doing the recruiting and hiring yourself.Benefits of Using a Staffing Agency: Calculating the Cost of a New Hire

 

The cost of a new hire is far greater than the cost of posting position openings or running a new hire screening, and not all of those costs can be measured in dollars. For instance, how can you calculate the negative impact of turnover on an understaffed department, or time lost to productivity when new hires are shadowing other employees?If you are trying to come up with the real cost of recruiting and hiring in your organization in order to weigh the benefits of using a staffing agency against completing the work in-house, here are some costs to consider:

 

- Time spent writing job post ad copy
- Time spent researching job boards, social networks and publications for placements
- Cost of placing position openings in print and online job boards
- Time spent reviewing submissions, monitoring all placement channels and responding to applicants
- Resources (time, money and materials) spent on written responses to applicants
- Time spent doing pre-interview phone screenings and setting up interviews
- Time spent conducting interviews and lost productivity for interview participants
- Time spent conducting reference checks
- Time and resources spent on pre-employment screening/s
- Food, beverages, lodging or travel costs
- Cost of reimbursement for parking or transportation
It's a lot! When you begin to tally up the cost of time spent on-boarding new hires, doing paperwork, setting up payroll and benefits, completing training and lower productivity while they get up to speed, you can begin to understand the high cost of employee turnover and better appreciate the benefits of using a staffing agency, especially when it comes to improving the cost of new hires.

 

Staffing Industry Statistics

 

The staffing, recruiting, and workforce solutions industry makes a vital contribution to the U.S. economy, and provides outstanding job and career opportunities for nearly 17 million employees per year. Click on the tabs below to see the facts and statistics for staffing companies and employees.

 

In the U.S., there are about 20,000 staffing and recruiting companies, which altogether operate around 39,000 offices. Approximately 55% of companies and 74% of offices are in the temporary and contract staffing sector of the industry.

 

Staffing companies offer a wide range of employment-related services, predominantly

 

 Temporary and contract staffing
 Recruiting and permanent placement
 Outsourcing and outplacement
Human resource consultingThe staffing industry in the U.S. - Statistics & Facts

 

Staffing firms operate within the business services industry, finding workers for client companies. Unlike recruitment companies, staffing companies primarily deal with temporary and contract job positions, although not necessarily exclusively. Staffing firms find temporary employees to fill job positions for client companies which require staff for short term work assignments. These positions, which are usually for lower skilled jobs, have vacancies available for a variety of reasons, such as, maternity leave, short term projects or periods of high demand in the company. Despite the candidate working within a client company, they often remain an employee of the staffing agency. This is not the case in all positions, as the employee may go on to be hired permanently by the client company.

 

The global staffing industry generated 428 billion U.S. dollars in 2016. In that same year, the United States' staffing and recruiting industry sales reached 150 billion U.S. dollars, 85 percent of which was generated in the temporary and contract employment sector. In the United States, temporary and contract employment totaled 14.5 million in 2016, down from 15.6 million in 2015, the highest employment figure recorded since the year 2000. While employment figures have been sporadic between 2000 and 2016, the average length of temporary and contract assignments have generally risen over the period from 9.7 weeks in 2000 to 11.5 weeks in 2016.

 

How Staffing Agencies Work

 

How can businesses and job hunters cut through the red tape of the hiring process? Many use an employment agency to alleviate the process. An employment agency is a firm hired by a company to help with its staffing needs. Employment agencies find people to fill all kinds of jobs, from temporary to full-time, in a number of career fields. Whether a company needs a nurse, an administrative assistant, a manager or a carpenter, an employment agency can find the right employee.

 

Both public and private employment agencies help place workers. In the United States, one of the major public employment agencies is the U.S. Department of Labor Employment and Training Administration. This agency provides job-seeking services and tools for workers through online resources and a network of offices around the country. It promotes public and private sector jobs by linking to national and state job banks.Private employment agencies also help place workers, particularly in the private sector. These employment agencies tend to specialize in one of three fields:

 

- personnel placement services
- staffing services, also known as temporary help services
- executive search firms

 

All told, these staffing companies put millions of people to work every day. In fact, in the temporary and contract industry, over two million people are employed by staffing companies every business day, and staffing companies hire 8.6 million temporary and contract employees every year

So, what do these employment agencies actually do?

 

Read on to find out why they're an invaluable resource for both employers and employees. For employers, an employment agency can take the grunt work out of human resources. Filling an open position takes time and money. Estimates are that hiring a worker can cost 7 to 20 percent of that position's salary and take 30 to 45 days to fill. That can be pretty taxing to some companies, so it's worth their while to farm out the hiring process to a recruiter at an employment agency.When a business needs a specific person for a job, it'll contract with a personnel placement services firm, also called a recruiter. The recruiter handles the search process and matches up an employee with the job in question, lining up potential candidates who interview with the company.For senior-level management positions, a company may choose to hire an executive search firm, also known as a headhunter. An executive search firm works under a retainer agreement from the hiring company and uses a set code of standards to identify and place workers in these highly visible positions.When a company just needs a vacation fill-in or someone to work for a few months, it uses a staffing agency. Staffing agencies provide skilled employees to work on a temporary or contract basis. Some employers also use staffing agencies as recruiters in positions known as "temp to perm,"meaning the position is temporary, but it could lead to a permanent position if the worker and company are a good fit.

What is a staffing agency?

 

Also known as employment agencies or recruitment firms, staffing agencies employ recruiters who work on behalf of employers looking to fill positions or workers hoping to find positions. These positions range in levels from entry level to executive level and often require specific skills and knowledge. The staffing firm's job is to find qualified candidates on behalf of a company or, in the case of representing workers seeking jobs, appropriate positions for the candidate.Many staffing companies specialize in a particular industry, experience level, or type of work. The work may be temporary, part-time, short-term, or full time.

Medical staffing agency

 

Since healthcare is a high-demand industry with busy periods and fluctuations in labor, many staffing agencies specialize in filling positions for medical personnel. Medical staffing agencies may further specialize in a particular profession, such as nursing, or type of position, such as temporary or permanent. Others staff a wide range of positions, including registered vocational, and practical nurses; physical, occupational, and speech therapists; OR, ER, CT, and radiation technicians; social workers; home health aids; administrative and office personnel; and many others.Some staffing companies do hire physicians although not as frequently as other medical professions.

Engineering staffing agencies

 

As with medical staffing companies, engineering staffing companies specialize in filling positions in a high-demand field—in this case, of course, engineering. Staffing agencies may focus on specific niches or types of engineering or cover a range of fields, such as aerospace, agricultural, biomedical, chemical, civil, computer and software, electrical, environmental, industrial, manufacturing, mechanical, nuclear, pharmaceutical, project, solar, structural, systems, and telecommunication, among many other specialties.

 

Staffing agency vs. temp agency

 

While many people confuse the two terms, a temp agency is actually a type of staffing agency specializing in temporary work. Temp agencies exclusively find employees to fill short-term positions, many of which arise at a moment's notice because of illnesses, maternity leave, and other absences. Employers may also engage temp agencies to find extra help during busy seasons. For instance, a department store may hire extra workers during the holiday season and use a temp agency to find temporary employees.Meanwhile, a staffing agency may find temporary positions and workers, but employers and professionals may also use one to find longer-term work depending on the needs of the client.

 

How do staffing agencies work?

 

Employers

 

As an employer, you will look for a staffing agency that specializes in or covers your industry. In your initial meeting, you'll share the requirements for the job and any other needs you'd like to specify.The staffing agency will then create a job description based on your input and share it across several channels, including their own website and other job boards. Depending on the nature of the work, representatives may also actively recruit candidates from LinkedIn and other professional channels.Once the staffing agency has located appropriate candidates, the recruiter will perform one or more screening interviews and narrow down the pool further. Again, depending on whether the work is temporary or permanent and other qualifications, you may ask the agency to conduct the entire hiring process, or you may choose to interview the candidates yourself as well. Either way, you will be involved in the hiring process and will have the ultimate say over which candidate is selected.In the case of positions that are temporary or temp-to-hire (the company hires the employee on a temporary basis but will consider hiring her for a more permanent position if it works out), the staffing agency usually handles the entire recruitment and interviewing process. For permanent positions, the staffing agency generally functions like a traditional recruitment agency and finds and screens candidates for the employer to interview.If the position is temporary, the agency will pay the worker directly. If the position is permanent or becomes permanent, the employer will handle or take over payroll for the employee.

 

"" " """

Who Staffing Invoice Factoring Is Right For

 

Due to the huge variety of positions recruited for and industries served, a staffing firm's invoices can be paid at unpredictable times. Payroll receivables factoring helps staffing companies overcome their cash flow management issues. If you are a staffing company with $5,000 to $50,000 per month of outstanding invoices, receivables factoring may be the solution for you.Staffing receivables factoring is mostly used by:

 

- General staffing companies
- Information (IT) staffing companies
- Temporary staffing companies
- Health care staffing companies
- Human resources (HR) consulting firms
- Headhunters
For the staffing industry, payroll receivables factoring has increasingly become an important lifeline. staffing companies typically aren't paid until placements have been on the job for two weeks, and sometimes three months for executives. That's a long time to wait for the cash you need to run your business.This problem can hurt staffing companies looking to put contract workers, or temp employees, into another organization. They will typically give 30- to 90-day terms to the business they're working with, but still have to pay these workers in the meantime. However, it can also hurt large executive recruiting firms who often work on a small retainer before they even know if they'll be paid.Some executive firms may not be able to use staffing receivables factoring until after they've placed an employee, but all temp agencies will be able to use a staffing receivables factoring product as soon as they place workers. Either way, staffing receivables factoring has become a lifeline for the industry to help them keep their expenses in check while they wait for their customers to pay.

 

About The Staffing Industry

 

5 Benefits of Using a Staffing Agency to Improve Quality of New Hires

 

1. Focus

 

Working with a staffing agency allows your team to stay focused on the tasks and tactics that make your business most profitable. With fewer tasks to be completed in-house, distractions are minimized. Let a staffing agency do the busy work of filling your candidate funnel and eliminating those who are not qualified or who are not likely to be a good fit for your company's culture.2. Expert Advice

 

staffing agency recruiters are trained and experienced experts who can efficiently sift through the hundreds - or even thousands - of responses your job posting may solicit and bring you a short list for consideration. What's more, their insights about candidates or their resumes can be invaluable in helping you decide which candidates should make the cut and move on to an interview.3. Better-Informed Candidates

 

Few things are more frustrating within the recruiting and hiring process as moving a candidate all the way through the process to the point of making an offer, only to discover that they had unrealistic expectations about the job, its salary range or responsibilities. One of the benefits of using a staffing agency is that they give candidates information about your company and the position ahead of time, so that candidates who want to self-select out of the process for any reason can do so, saving you time and resources in the process.4. Pre-Screened for the Fast Track

 

Recruiting and hiring processes can take months! You can short-cut the process by working with staffing companies who have already recruited, interviewed and pre-screened candidates who can be in place within a day or two, instead of weeks or months.5. Try Before You Buy Options

 

Having the ability to work with candidates on a trial basis as temporary employees placed through a staffing agency gives you the opportunity to bring in top talent and see how they fit within the team and perform without making a long-term commitment. It can be equally positive for candidates themselves as they have a chance to find out whether the job and your corporate culture is a good fit for them. If you have experienced the pain and high cost of making a bad hire, this reason alone might make the benefits of using a staffing agency preferable to doing the recruiting and hiring yourself.Benefits of Using a Staffing Agency: Calculating the Cost of a New Hire

 

The cost of a new hire is far greater than the cost of posting position openings or running a new hire screening, and not all of those costs can be measured in dollars. For instance, how can you calculate the negative impact of turnover on an understaffed department, or time lost to productivity when new hires are shadowing other employees?If you are trying to come up with the real cost of recruiting and hiring in your organization in order to weigh the benefits of using a staffing agency against completing the work in-house, here are some costs to consider:

 

- Time spent writing job post ad copy
- Time spent researching job boards, social networks and publications for placements
- Cost of placing position openings in print and online job boards
- Time spent reviewing submissions, monitoring all placement channels and responding to applicants
- Resources (time, money and materials) spent on written responses to applicants
- Time spent doing pre-interview phone screenings and setting up interviews
- Time spent conducting interviews and lost productivity for interview participants
- Time spent conducting reference checks
- Time and resources spent on pre-employment screening/s
- Food, beverages, lodging or travel costs
- Cost of reimbursement for parking or transportation
It's a lot! When you begin to tally up the cost of time spent on-boarding new hires, doing paperwork, setting up payroll and benefits, completing training and lower productivity while they get up to speed, you can begin to understand the high cost of employee turnover and better appreciate the benefits of using a staffing agency, especially when it comes to improving the cost of new hires.

 

Staffing Industry Statistics

 

The staffing, recruiting, and workforce solutions industry makes a vital contribution to the U.S. economy, and provides outstanding job and career opportunities for nearly 17 million employees per year. Click on the tabs below to see the facts and statistics for staffing companies and employees.

 

In the U.S., there are about 20,000 staffing and recruiting companies, which altogether operate around 39,000 offices. Approximately 55% of companies and 74% of offices are in the temporary and contract staffing sector of the industry.

 

Staffing companies offer a wide range of employment-related services, predominantly

 

 Temporary and contract staffing
 Recruiting and permanent placement
 Outsourcing and outplacement
Human resource consultingThe staffing industry in the U.S. - Statistics & Facts

 

Staffing firms operate within the business services industry, finding workers for client companies. Unlike recruitment companies, staffing companies primarily deal with temporary and contract job positions, although not necessarily exclusively. Staffing firms find temporary employees to fill job positions for client companies which require staff for short term work assignments. These positions, which are usually for lower skilled jobs, have vacancies available for a variety of reasons, such as, maternity leave, short term projects or periods of high demand in the company. Despite the candidate working within a client company, they often remain an employee of the staffing agency. This is not the case in all positions, as the employee may go on to be hired permanently by the client company.

 

The global staffing industry generated 428 billion U.S. dollars in 2016. In that same year, the United States' staffing and recruiting industry sales reached 150 billion U.S. dollars, 85 percent of which was generated in the temporary and contract employment sector. In the United States, temporary and contract employment totaled 14.5 million in 2016, down from 15.6 million in 2015, the highest employment figure recorded since the year 2000. While employment figures have been sporadic between 2000 and 2016, the average length of temporary and contract assignments have generally risen over the period from 9.7 weeks in 2000 to 11.5 weeks in 2016.

 

How Staffing Agencies Work

 

How can businesses and job hunters cut through the red tape of the hiring process? Many use an employment agency to alleviate the process. An employment agency is a firm hired by a company to help with its staffing needs. Employment agencies find people to fill all kinds of jobs, from temporary to full-time, in a number of career fields. Whether a company needs a nurse, an administrative assistant, a manager or a carpenter, an employment agency can find the right employee.

 

Both public and private employment agencies help place workers. In the United States, one of the major public employment agencies is the U.S. Department of Labor Employment and Training Administration. This agency provides job-seeking services and tools for workers through online resources and a network of offices around the country. It promotes public and private sector jobs by linking to national and state job banks.Private employment agencies also help place workers, particularly in the private sector. These employment agencies tend to specialize in one of three fields:

 

- personnel placement services
- staffing services, also known as temporary help services
- executive search firms

 

All told, these staffing companies put millions of people to work every day. In fact, in the temporary and contract industry, over two million people are employed by staffing companies every business day, and staffing companies hire 8.6 million temporary and contract employees every year

So, what do these employment agencies actually do?

 

Read on to find out why they're an invaluable resource for both employers and employees. For employers, an employment agency can take the grunt work out of human resources. Filling an open position takes time and money. Estimates are that hiring a worker can cost 7 to 20 percent of that position's salary and take 30 to 45 days to fill. That can be pretty taxing to some companies, so it's worth their while to farm out the hiring process to a recruiter at an employment agency.When a business needs a specific person for a job, it'll contract with a personnel placement services firm, also called a recruiter. The recruiter handles the search process and matches up an employee with the job in question, lining up potential candidates who interview with the company.For senior-level management positions, a company may choose to hire an executive search firm, also known as a headhunter. An executive search firm works under a retainer agreement from the hiring company and uses a set code of standards to identify and place workers in these highly visible positions.When a company just needs a vacation fill-in or someone to work for a few months, it uses a staffing agency. Staffing agencies provide skilled employees to work on a temporary or contract basis. Some employers also use staffing agencies as recruiters in positions known as """"temp to perm,"""" meaning the position is temporary, but it could lead to a permanent position if the worker and company are a good fit.

What is a staffing agency?

 

Also known as employment agencies or recruitment firms, staffing agencies employ recruiters who work on behalf of employers looking to fill positions or workers hoping to find positions. These positions range in levels from entry level to executive level and often require specific skills and knowledge. The staffing firm's job is to find qualified candidates on behalf of a company or, in the case of representing workers seeking jobs, appropriate positions for the candidate.Many staffing companies specialize in a particular industry, experience level, or type of work. The work may be temporary, part-time, short-term, or full time.

Medical staffing agency

 

Since healthcare is a high-demand industry with busy periods and fluctuations in labor, many staffing agencies specialize in filling positions for medical personnel. Medical staffing agencies may further specialize in a particular profession, such as nursing, or type of position, such as temporary or permanent. Others staff a wide range of positions, including registered vocational, and practical nurses; physical, occupational, and speech therapists; OR, ER, CT, and radiation technicians; social workers; home health aids; administrative and office personnel; and many others.Some staffing companies do hire physicians although not as frequently as other medical professions.

Engineering staffing agencies

 

As with medical staffing companies, engineering staffing companies specialize in filling positions in a high-demand field—in this case, of course, engineering. Staffing agencies may focus on specific niches or types of engineering or cover a range of fields, such as aerospace, agricultural, biomedical, chemical, civil, computer and software, electrical, environmental, industrial, manufacturing, mechanical, nuclear, pharmaceutical, project, solar, structural, systems, and telecommunication, among many other specialties.

 

Staffing agency vs. temp agency

 

While many people confuse the two terms, a temp agency is actually a type of staffing agency specializing in temporary work. Temp agencies exclusively find employees to fill short-term positions, many of which arise at a moment's notice because of illnesses, maternity leave, and other absences. Employers may also engage temp agencies to find extra help during busy seasons. For instance, a department store may hire extra workers during the holiday season and use a temp agency to find temporary employees.Meanwhile, a staffing agency may find temporary positions and workers, but employers and professionals may also use one to find longer-term work depending on the needs of the client.

 

How do staffing agencies work?

 

Employers

 

As an employer, you will look for a staffing agency that specializes in or covers your industry. In your initial meeting, you'll share the requirements for the job and any other needs you'd like to specify.The staffing agency will then create a job description based on your input and share it across several channels, including their own website and other job boards. Depending on the nature of the work, representatives may also actively recruit candidates from LinkedIn and other professional channels.Once the staffing agency has located appropriate candidates, the recruiter will perform one or more screening interviews and narrow down the pool further. Again, depending on whether the work is temporary or permanent and other qualifications, you may ask the agency to conduct the entire hiring process, or you may choose to interview the candidates yourself as well. Either way, you will be involved in the hiring process and will have the ultimate say over which candidate is selected.In the case of positions that are temporary or temp-to-hire (the company hires the employee on a temporary basis but will consider hiring her for a more permanent position if it works out), the staffing agency usually handles the entire recruitment and interviewing process. For permanent positions, the staffing agency generally functions like a traditional recruitment agency and finds and screens candidates for the employer to interview.If the position is temporary, the agency will pay the worker directly. If the position is permanent or becomes permanent, the employer will handle or take over payroll for the employee.

 

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