We helped this leading business outsourcing specialist to reduce costs by 65%.
ICS, a leading business outsourcing specialist, needed a payroll solution to replace its traditional file handling process. The business wanted to see if it was possible to implement an automated process which was faster, and enabled better control.
Modulr helped ICS by removing its manual processes and replacing these with flexible payments APIs. ICS’s existing banking payments process has now been replaced with Modulr’s automated, accurate and faster solution. This has provided the business with the increase in speed and control it urgently needed, and has also reduced its costs. Since using Modulr, ICS has reduced its payment processing costs by 65%. Modulr’s APIs effectively untangle complex and laborious payment processes, which are sometimes based on legacy systems. This enables swift and easy account set-up, greater visibility and control of payment flows, and automated reconciliation.
Create accounts instantly
ICS can now set up individual accounts for each client they work with allowing clear segregation of funds and easier reconciliation.
Automate Faster Payments
The Modulr platform gives ICS easy access to Faster Payments and the API allows them to trigger automatic payments out.
Efficient commission collection
ICSs commission can be automatically deducted from transactions, reducing the need for manual account intervention.
Quick and simple reconciliation
With unique accounts for each client and notification of fund movements, reconciliations become faster and easier.
Reduce technology support costs
By replacing batch payment files with Modulr’s API, the number and severity of payment errors are reduced.
Individual FCA regulated E-Money Accounts are held securely by Modulr, and can be controlled by ICS through Modulr’s API.
Clients can access Modulr services through multiple methods
Integrate Modulr services directly into your platform
Log in to manage customers, accounts and payments
Submit payment instructions
Instantly create and manage multiple accounts
Register clients for services and manage their accounts
Configure payment processing rules to automate payment flows
Initiate payments instantly
Know exactly when changes happen to your accounts
Seamless access to payment schemes
How Modulr works for ICS
Modulr is a highly flexible and configurable platform to suite different business’ needs. The diagram shows how ICS have combined the modules we offer to to enable a solution that’s right for them.
Stuart Thornhill, ICS CEO commented: “We are delighted with the improvements that have been made to our payroll processes. Thanks to Modulr, our old file handling processes have been completely overhauled, and we are already making time and cost savings.”
Modulr is backed by Blenheim Chalcot, the UK’s leading venture builder. Founded in 1998, Blenheim Chalcot specialises in building digital businesses that transform industries. It’s portfolio of companies has sales of over £300m, more than 3,000 employees, and a successful track record of building over 40 companies across IT services and outsourcing, education, financial services, software, sport and media.
Modulr Finance Limited, a company registered in England with company number 09897957 and ICO Registration: ZA183068, is registered with the Financial Conduct Authority as an EMD Agent of Modulr FS Limited. Modulr FS Limited is Authorised and Regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573). You can check the Financial Services Register here.