Staffmark Gives Dun & Bradstreet the Job & Sees Best-In-Class Results
As a national staffing company with more than 300 locations in 31 states across the country, Staffmark changes the lives of the individuals they place for work at the companies that look to Staffmark for help in workforce planning and resourcing. In this way, Staffmark plays an important role in the economy, helping companies effectively respond to economic conditions.
For Staffmark, the ability to make upfront, smart decisions about the companies that need their services is critical. “In the staffing industry, how you service your customers and help them find great workers is a big differentiator,” says Lesa Francis, Staffmark’s President & CEO. “The key to our success is service. Being able to make good decisions up front about who we extend credit to and collecting those dollars means we have additional funds to spend in a way that helps us innovate and deliver on our services.”
They must be able to quickly assess a potential new customer relationship as they secure new business, while avoiding customers that might result in bad debt. This lets Staffmark use bad debt reserves to re-invest in their business and focus on activities that are more important, such as collaborating with sales, recruiting great candidates, and training, learning and development.
“The mission of the credit and collections department is to be a part of our sales process,” says Tom Jurman, VP Credit & Collections. “We’re not here just to say yes or no. We’re here to help our branch offices make good decisions. We’re able to have our employees work for companies where they have an opportunity to be successful and grow.”
How It Works
Collaboration with Dun & Bradstreet is part of the Staffmark credit and collections process from start to finish. From the time Staffmark receives an initial order from a branch office to evaluate to the time they wrap up a file. “We rely on D&B’s report and we’re confident in the material we have to make sound credit decisions,” says Rachael Corns, Staffmark manager of credit and collections. “Our branches know that when we tell them we feel good about a D&B report, that we’ve made a good decision.”
World-Class Results and ROI
Dun & Bradstreet sees data from companies around the world and recognizes that Staffmark is a top performer in key credit and collections performance metrics such as Days Sales Outstanding (DSO) and turn-around time for approvals. These metrics are making a positive impact on the company’s top-line growth. Staffmark truly represents a “best-in-class” and world-class credit and collections organization that has been able to consistently exceed the goals set by their executive team.
“My vision for the department for the next three years is to build on the successes we’ve had,” Jurman says. “I’m confident that the processes we have in place are working very well. What I’m really focused on right now is putting steps and safeguards in place that can help us as things outside the department change so we’re ready for them.”