6 ways to stay ahead of the competition in the payroll services market
Ernst & Young’s 2019 Global Payroll Survey found that the number of businesses who chose to run their payroll in-house that year was 45%, with 14% choosing to outsource their payroll to a third party. With more business owners making the move to processing their payroll in-house, many bureaus are looking for new ways to improve their service offerings.
The remaining 41% of those surveyed said that they both outsource and run their payroll in-house. The rationale behind so many saying they did both was because despite choosing to outsource their payroll processing, they still felt there were a number of payroll processes that they were required to manage in-house.
According to the survey, these payroll processes include:
- Collating variable pay data to send to their payroll processer
- Employee information storage and retrieval (e.g., payslips)
- Time and attendance management
- Post-payroll reporting
- Processing payments
Clients’ outsourcing experience could be improved by being offered new services
From the survey, out of the 59% who said they outsourced at least some of their payroll duties in 2019, 78% said that their outsourcing experience could be improved by being offered new services by the vendor.
Your clients can benefit from being offered new services which simplify and automate some of the payroll related work which they manage in-house. The processes, listed above, that the client either needs or wants to manage in-house can be facilitated using BrightPay Payroll and BrightPay Connect.
6 ways you can improve your client's outsourcing experience
1. Upload Employee Hours
It will always be up to your client to inform you of any variable pay data for each pay period. However, you can make this process as seamless as possible for them by using BrightPay Connect. Instead of going back and forth through email, your client can submit employee hours each pay period through their own secure online portal. They can also inform you of any new employees at the same time.
2. Access payslips and employee data
Your client’s employees can be invited to an online self-service portal and employee app where they can access their payslip library, HR documents and update their personal contact details. This means less work for both you and your client, as the employee no longer needs to request this information from the client, and the client no longer need to request it from you, to pass on to the employee.
Stopping the printing of payslips not only saves time and money but can also help you and your client’s build more sustainable businesses. Read about BrightPay’s sustainability efforts here.
3. Employee Calendar
The real-time employee calendar allows your client to see at a glance who is on leave and when. The client also has visibility of whether they are on annual leave, unpaid leave, parenting leave or sick leave, allowing them to better manage their workforce. Employee’s leave automatically synchronises to the payroll software on your PC, eliminating the need for the client to keep you up to date on employee leave.
4. Leave Management
Employees can submit holiday requests with a few simple clicks through the BrightPay Connect employee app. Managers will be notified of the request and can view the holiday calendar online before approving, ensuring they always have sufficient cover.
5. Payroll Reporting
Reporting is also integrated with BrightPay Connect. All reports that are saved in BrightPay can be viewed from within the employer self-service portal. This allows clients to access reports on the go, at any time. P30 details are also accessible, with a record of HMRC payments made and amounts still due to HMRC.
6. Processing Payments
Another aspect many of those surveyed said that they take care of themselves, despite outsourcing their payroll was processing employees' payments. Since April 2021, BrightPay can offer a fast, secure and easy way to pay employees and subcontractors through BrightPay. Our API integration with payments platform Modulr, allows you to process employees' payments in under two minutes. As it utilizes Faster Payments Service instead of Bacs, this means payments can be sent 24/7, 365 days a year and are settled within 90 seconds.
Even if your client likes to take care of this facet of payroll themselves, you can still offer them this new service and they can still stay in control by having the option to approve payments through their own Modulr online portal.
For more information on how BrightPay Connect can improve your service offerings, book a free online demo today.
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