Providing payroll as a service with software
As an accountant, providing payroll services is an excellent way to add value for your clients while creating a new revenue stream for your practice. Done right, payroll services can open a lot of doors when it comes to finding new clients, and help keep existing ones happy, too.
We think there’s only one sensible way to introduce payroll as a service: and that’s to think about what payroll software you’re going to rely on first.
Managing payroll can be complex, which is why it doesn’t make sense to start providing it as a service until you’ve got the right software partner in place. As soon as you’ve made your choice on what software will work best for your firm, though, you’ll be set up to start delivering efficient, compliant and professional payroll services right away.
How does software help accountants deliver payroll services?
Payroll software essentially makes managing payroll much simpler – from payroll processing to keeping payroll data secure. It can handle managing the intricacies of employee salaries, tax compliance, and reporting – all in a way that uses enhanced automation to make payroll management as straightforward as possible. Here’s how:
Automated calculations
Good payroll software is built on a bedrock of automation – meaning it’s designed to handle complex payroll calculations automatically, while ensuring accuracy every time
Red-hot compliance
We don’t need to tell you how challenging staying on top of regulations can be. Instead, we’ll tell you that Capium’s automated Real Time Information (RTI) submissions and updates mean your clients’ payroll will always be fully compliant with HMRC requirements.
Batch processing for efficiency
Payroll software is all about generating efficiency, and batch processing is a big part of that. It allows you to manage payroll for multiple clients effortlessly, whether they’re small businesses or larger organisations, saving you time as you go.
Comprehensive and tailored reporting
Payroll software makes it easy to generate detailed payroll reports (customisable, based on the information that’s most relevant to each specific client) and share them with your clients to help them understand their financial position and make informed decisions.
Employee self-service
Processing payroll becomes much easier when employees can self-serve as much as possible, which is why having a portal that they can access is a key part of payroll management. With Capium’s employee self-service portal, your clients’ teams can access their payslips, P45s, and P60s directly.
Introducing payroll as a service to your clients
It’s one thing deciding to offer payroll services – and another thing entirely to communicate to your clients the value you could add to their business by managing payroll on their behalf. Especially as, while you may have some clients who know, specifically, that they’re looking for managed payroll solutions, others might not be aware that accountants can be payroll professionals, too.
Emphasise time savings
This first one won’t surprise you – but letting your clients know that by outsourcing payroll to you, they can free up time to focus on their core business activities, is likely to get their attention, especially when you start talking numbers, or highlighting features of payroll software that are specifically designed with efficiency in mind.
Focus on compliance
Payroll software doesn’t just keep you, as a payroll solutions provider, compliant – it means your clients’ payroll data is completely up to date with ever-changing regulations, too. When it comes to reducing the risk of fines or penalties, that matters.
Be as transparent as possible
Transparency is easiest when everyone’s looking at the same thing, which is why the self-service portal aspect of good payroll software plays such an important role in helping clients understand how payroll solutions can help them. If they can access payroll data and reports at any time, they’ll have a clear view of their payroll processes – and the role you play in keeping them on track.
Showcase convenience
You know how convenient cloud-based payroll software makes your everyday payroll processing tasks, but your clients probably don’t. As part of letting them know it’s a service you can offer, highlighting just how quick and easy payroll software will make it for them to access payroll data that lives in the cloud could help make the benefits of managed payroll solutions more tangible.
Offer a free demo
We wouldn’t be true software providers if we weren’t happy to put our money where our mouth is and offer free demonstrations of our payroll software to our clients – so why shouldn’t you offer demonstrations to yours, too? As with any new investment, seeing how payroll software works in practice is often the best way to highlight how useful it will be.
Why choose Capium for payroll?
We’ve designed our payroll software specifically for accountants, with thoughtful features that help you provide a seamless and professional service. Sign up for a free trial today and see the difference for yourself.
