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 clinet 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
Cardstream’s 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.
What ICS thinks
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.”
Stuart Thornhill - CEO , ICS