From XU Magazine, 
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Introducing Waddle for Recruiters

September 2, 2021

This article originated from the Xero blog. The XU Hub is an independent news and media platform - for Xero users, by Xero users. Any content, imagery and associated links below are directly from Xero and not produced by the XU Hub.
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We know the cash flow pressure that recruitment companies are under, having to pay contractors weekly, whilst waiting 30 or more days for client payments. That's why we've launched a new product designed specifically for the recruitment industry.

With Waddle for Recruiters you could be eligible for an advance rate of 85% of the value of your invoice ledger, an increase on the standard 80%. In addition, we've made changes to our regular concentration limits. Depending on the size of the facility, you could still be eligible for the full 85%, even if you only have one debtor.

How it works

For facilities under $50k:

  • Advance rate - 85% (this is a percentage of the total value of all of your eligible invoices)
  • Concentration limits - none (this means that even if you just have a single debtor, you're still eligible for an 85% advance rate)

For facilities under $50-200k:

  • Advance rate - 85%
  • Concentration limits - 50% (if you only have a single debtor, you'll be eligible for an advance rate of 50% instead of 85% - this is an increase from our standard 30%)

For facilities under $200k+:

  • Advance rate - 85%
  • Concentration limits - 30% (however, this can increase to 50% if the single debtor is an ASX listed / blue chip company)

What makes an invoice eligible?

Eligible invoices are:

  • Invoices that have been raised at the completion of providing a good or service
  • That are aged no more than 90 days from issue date
  • That are invoiced to other AU businesses (B2B)
  • That are NOT milestone, staged or progressive invoices

Modern invoice finance

With our new product, you still get all the regular benefits of a Waddle facility. That means innovative tech with the fairest rates and most flexible terms. Other benefits of Waddle include:

  • Reduced admin - seamless integration with your accounting package to make bookkeeping easy.
  • Confidentialty - your customers pay into an account set up by Waddle in your name. Waddle stays hidden in the background.
  • No lock in contracts or unfair fees - only use it when you need it and only pay for it when you do.

Why leave it there?

To learn more about Waddle

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