FCSA Launches Diligence Hub

At a time where compliance and due diligence are paramount, navigating the complexities of effective vetting can be a daunting task for both recruiter and umbrella companies. Enter Diligence Hub, a new initiative by the Freelancer and Contractor Services Association (FCSA) which offers a high-security matching service for due diligence requirements between recruiters and umbrella companies. 

Enhancing recruiter and umbrella relationships

Diligence Hub aims to streamline and simplify the due diligence process, which often entails an arduous exchange of information between multiple parties. By providing a centralised platform for the exchange of due diligence data, the Diligence Hub eliminates duplication of work and efforts, making the entire process more efficient and cost-effective. 

The timing of the launch couldn’t be more pertinent, especially given the recent announcement by the government to legislate for mandatory due diligence as part of its strategy to tackle non-compliance in the umbrella company market. 

Chris Bryce, Chief Executive of the FCSA said:

“Diligence Hub represents a significant step forward in our ongoing commitment to promoting best practices and transparency within the contracting industry. By providing recruiters and umbrella companies with a secure platform for sharing due diligence information, we aim to enhance efficiency, foster trust, and drive positive outcomes for all stakeholders.”

Liquid Friday’s COO, Joe Taffurelli, agreed:

“I am excited to see that the FCSA continues to lead. Many of our agency partners rightly put a lot of effort into compliance checks, our team here respond to 5 or 6 a week, therefore creating an easy to access portal for our partners to access and check what ever information they need is a game changer for everyone. We are excited to be confirmed as early adopters and will be one of the first Umbrellas in the country to have access to the platform in the coming days.”

Why use Diligence Hub?

With Diligence Hub, recruiters and umbrella companies can safely and securely exchange due diligence information when considering commercial agreements, offering significant benefits for all parties. 

Time and Cost Savings: By reducing duplication of efforts and streamlining the due diligence process, recruiters and umbrellas can save valuable time and resources.

Risk Reduction: Diligence Hub mitigates risk by providing a secure platform for sharing verified due diligence information, ensuring compliance with regulatory requirements.

Enhanced Security: With robust security measures in place, including encryption and two-factor authentication, Diligence Hub offers peace of mind to users regarding the safety of their data.

Improved Compliance: By facilitating standardized due diligence processes, Diligence Hub helps recruiters and umbrellas meet compliance standards efficiently.

Confirmation of Due Diligence: The Hub provides an audit trail, independently verifying that due diligence has been conducted, thereby instilling confidence in stakeholders.

Accessing the FCSA’s Diligence Hub

The Diligence Hub has been launched to FCSA members and Recruiter Partners, who will all receive emails with details on how to register for free, before the service is made available to non-FCSA members in the coming weeks. FCSA Recruiter Partners will be able to register an account free for at least 12 months. 

Diligence Hub Introduction from FCSA on Vimeo.