What does it mean to be a true cloud practice? For Alan Woods, Managing Director of Woods Squared in Wirral, the answer is easy: flexibility and simplicity.
In other words, the ability to work from anywhere and to get access to all the relevant information and software that you need. Cloud accounting has no bias towards one set of coordinates.
All that’s needed is a stable internet connection, and voila, you’re working. It’s this simplicity that draws accountants to the cloud. But as practitioners know, not all cloud systems were created equal.
Capium saw a sharp increase in Payroll purchases last month. Largely in part due to a sustained period of isolation but in equal measure as a result of major compliance changes. Being a cloud platform enables Capium to keep pace with the changing landscape, as it implemented its Coronavirus Job Retention Scheme application in line with the HMRC changes.
The application allows Capium customers to:
Enter the Furlough amount which feeds directly into the payslip
Choose between 80% of employee's pay or 100% of employees pay (pay elements)
Automatically calculate the claim amount based on above selection
Automatically generate form to support claim submission
The application also allows the Accountant to share encrypted payslips in real-time directly to the employee.
Becoming a true cloud practice hinges on using true cloud software, built for a purpose. A software laden with features you don’t use but still pay for, and a hefty price tag to match, limits your ability to work with real freedom.
This is what prompted Woods to make the leap to Capium in 2017 after a prolonged search. Capium offered a simpler, more affordable option while satisfying everything Woods Squared needs. It's not filled to the brim with unnecessary features and focuses on what accountants need. Woods says, Capium has opened up a new revenue stream for the business: payroll.
“Capium has simplified the processing of payroll within the business,” Woods says. “For standard payrolls, we have been able to take advantage of the bulk processing feature which works great. We can process more payrolls, so a service that has historically not been a valuable service is now one of our most.” It also meets the needs of a growing practice, according to Woods.
So, does Woods have any regrets making a move to Capium? “No, it does everything that you could need it to do. It’s simple to use, great value and the support is excellent, too. I only wish it was around when we started our business 12 years ago!”