Rocket Paye won the title of ‘Best Umbrella Company’ at the 2023 Contracting Awards and, according to Managing Director Alex Hough, a significant part of this win is down to its collaboration with Modulr. Using Modulr’s payment technology through My Digital, has not only eliminated long, unsociable work hours for staff but also slashed payment costs by an impressive 75%, all while giving Rocket Paye a reliable partner it can scale with.
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Payment flexibility instead of round-the-clock hours
Using My Digital’s Modulr integration, Rocket Paye can make payments in a matter of seconds, knowing there’ll be no unexpected delays. And, even more importantly for the team, they can schedule payments in advance, make last minute changes and handle emergency payments.
As a result, Rocket Paye can always ensure its 1,500+ weekly workers are paid on time, something that was difficult to do with the high-street bank they used previously.
"When we were using a bank to process payroll with Faster Payments, it could still take over four hours. This meant I had to get up at 4am to send payments because many of our clients’ workers have to see money in their account first thing in the morning, or they simply won’t go to work that day. It wasn’t an easy task either. It was a five-step process involving physical bank card readers and multiple hoops to jump through.”
“Modulr has been so much easier. The minute we click pay we don’t have to worry about payments.”
Switching to Modulr through My Digital has made life a lot easier, something the Rocket Paye team and their customers really appreciate.
“Modulr has been so much easier. The minute we click pay we don’t have to worry about payments. Everyone gets paid when they need, and we don’t receive any calls from workers wondering when they’re going to get paid”.
Saving costs as well as time
This game-changing solution has also reduced payment costs by a staggering 75%, compared with the bank. But the savings don’t end there, a considerable amount of time is saved each week through greater efficiency. Automated payment processing results in fewer errors and less time spent rectify them, time which the team now spend on more value-add areas of the business.
“Modulr has been so efficient and easy to use I would have happily paid what I was paying before for this level of service. But the fact that it’s such a big saving is obviously a huge bonus for us. Now, instead of wasting hours on the challenges of payroll, we can divert that time and energy to winning new business.”
An award-winning partnership
Modulr provides all its clients with 24/7 support, something Rocket Paye really appreciates. The nature of their business doesn’t tolerate delays – they need the ability to be reactive and provide appropriate responses.
“Working with a high-street bank, our banking relationship manager was impossible to get hold of and if we ever had any issues we had to call their support team and it took a long time to get a resolution. With Modulr, I very rarely have to call them at all, but when I do, we can sort it quickly’’.
Rocket Paye and its approach to payments has already been recognised as something special in the umbrella industry, taking the top prize at the 2023 Contractor Awards. Their ability to make quick, reliable payments to workers, is something that stood out. “Modulr played a big role in us being awarded 2023 Best Umbrella Company. Our ambitions have always stayed the same, and with Modulr we have a partner that has the capabilities and support to take us to that next level of growth.”
“Modulr played a big role in us being awarded 2023 Best Umbrella Company.”
Why Rocket Paye came to Modulr
Rocket Paye was founded to provide fast, reliable payroll to contractors in a variety of industries. However, right from the start they found processing payments to be far more frustrating than they had in mind.
“We went to a bank and it was immediately clear it had little understanding of our business model. They’re built to cater to the masses and can’t offer much flexibility.
When we were finally set up, we hated having conversations with clients where we couldn’t explain to them exactly when their workers would get paid. And to counteract that, we were working highly unsociable hours. Eventually we spoke to My Digital and asked if there was anything better, and they recommended Modulr. Process and software-wise everything works better than ever expected - it’s exactly what we were looking for.”
Modulr specialises in umbrella payroll payment solutions and is integrated with some of the largest software providers in the space including My Digital, Zeel and Staffology. If you’d like to find out more about what it can do for your business, you can do so here or get in touch with us today.