Gateway Finance offers a full suite of accounting and payroll services for contractors, employers and recruiters. The company prides itself on delivering a responsive and flexible service, and the proof is in the pudding – clients come in almost entirely on referrals.
Now, Gateway Finance has placed itself even further ahead of other payroll providers. By embedding new payments technology, the payroll process has been streamlined and accelerated, leaving plenty of scope for upscaling the business.
From five hours to 45 minutes: How Gateway Finance is saving time by automating payments with Modulr
Gateway Finance was already using BrightPay’s software for making net salary payments, but significant delays came from relying on the bank along with two separate (and heavily manual) pieces of software to process payments. It’s hard to believe the amount of manual work the company was faced with at the same time as striving to deliver the highest level of service.
Integrating BrightPay with Modulr’s Payments Dashboard immediately eliminated the need for manual payment files. Instead of moving between multiple platforms to upload and transfer details, Gateway Finance can now complete everything in one single portal and make payments directly through BrightPay in a few easy steps. And instead of having to phone the bank for authorisation, the company can rely on two-factor authentication to ensure security.
“For a 40 or 50 employee payment cycle it would take around five hours to process payroll. With Modulr, the integration is so slick – we’ve got payroll processing down to just 45 minutes from receiving details to making payments”
Modulr is one of the few non-banks that’s connected to the Faster Payments network, and that makes the process even slicker. Payments clear in under 90 seconds, including weekends and bank holidays. Not only is this good for speeding up payroll, it helps providers like Gateway Finance keep on top of their PAYE payments to HMRC, which can also be made directly through BrightPay. And because payments can be lined up ahead of time in the Dashboards’ pending area, it’s easy to make sure the numbers are accurate – and changes can be made right up to the last minute.
Upscaling business without upping resources
Because of the efficiency the BrightPay-Modulr integration enables, Gateway Finance is embarking on an impressive expansion of the company.
Gateway Finance recognises it’s ahead of the curve on many payroll providers – most of which are still operating with outdated software. As a result, they’re looking to merge a few providers into the Gateway brand over the next few months and migrate them straight onto Modulr. Aside from that, several new clients are lined up to onboard before Christmas, each with around 200 employees. Most significantly, one existing client wants to increase the number of employee payments processed from 500 to 2,000 a week.
Increasing business and improving service levels without ramping up costs and resources is difficult, but payments technology is a great facilitator. With Modulr, Gateway Finance is getting more clients through the door and maintaining its impeccable reputation irrespective of the challenges the pandemic has brought.
“Remote working has been a logistical nightmare over the last 18 months but, with the BrightPay-Modulr integration, we’ve been able to upscale quickly – and without taking on additional members of staff”
When it comes to meeting rising client expectations as well as future-proofing your business against economic shocks, there’s little argument against automating payment and payroll workflows. Accountants often carry an administrative burden that gets in the way of taking on extra business, and stops them from developing a more strategic, consultative role. But for Gateway Finance, this isn’t a concern. Powered by Modulr, the sky’s the limit.
