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The speed at which buyers of staffing services pay staffing firms was unchanged in November from October at a reading of 116, according to the Capital TempFunds credit index. Buyers are continuing to pay more quickly than in September, when the index was at 105.
"Staffing companies continue to show discretion in credit offered to their customers and exhibiting diligence in their collection activities, with the results for the November 2008 Capital TempFunds Credit Index the same as the good result from October," said Jim Rothman, president of Capital TempFunds. "This attention to receivables will help staffing companies save money on interest costs, weather the current credit situation, and it reflects good reaction to the current economic cycle."
Data for the index comes from Capital TempFunds' clients across the country and allows firms to gauge how long their customer base is taking to pay compared with others'. The higher the index number, the faster staffing buyers are paying. The index has a base line of 100.