The experienced panel of judges, which includes representatives from the Big Four accounting firms and the Swedish Payroll Association, shortlisted Modulr for Payroll Software Supplier of the Year.
Modulr recognises that payroll bureaus and umbrella companies are struggling with high volumes of batch files and manual processes.
In a recent survey conducted with payroll title, Reward Strategy, we found that 87% of companies rely on Bacs, which take three days to process payments, while almost half of payroll managers cited manual payments handling as the biggest cost to their business. “Manual is time; that’s our margin,” one payroll bureau commented.
The process for submitting payments to Bacs is time consuming and potentially error prone – every payroll managers’ nightmare. Payroll managers must manually create and export batch payment files, which need to be authorised and then sent to the processing bank by logging into their e-banking portal.
Modulr’s API, which can be easily integrated with payroll software, enables payroll companies to replace these time-consuming and error-prone manual processes with “auto payment” functionality.
No more manual CSV exports of employee payment information or manual uploading of CSV files to bank accounts and less manual payment amendments to files, which can cause payment errors.
The API also provides access to an unlimited number of instant payment accounts with individual account numbers and sort codes, which gives payroll managers greater visibility over fund flows.
Speed is another key differentiator for payroll companies which is why Modulr offers access to same-day or real-time (90 second) payments 24x7 via Faster Payments.
Modulr’s mission is to provide higher levels of automation, control and flexibility, and less error-prone manual payments handling, which helps payroll managers and software providers differentiate their offering to their end customers.
Read how leading business outsourcing specialist ICS reduced its payroll processing costs by 65% using Modulr’s API.
The GPA awards ceremony takes place in Lisbon on the 7th June, following the Global Payroll Summit.
To find out how Modulr can help your business, get in contactwith us
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