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Payroll Bureaus Guide to Profit from Auto Enrolment
Integrated Practice Management & Compliance for the SME Practitioner
By Paul Byrne, BrightPay
By Ian Katte, BTC Software
By Paul Byrne
Payroll Bureaus Guide to Profit from Auto
Enrolment
By Ian Katte
Integrated Practice Management &
Compliance for the SME Practitioner
Q&A SessionQuestions Tab or #BPWebinars
On DemandThis session is being recordedREC
Q&A
Payroll Bureaus Guide to Profit from Auto Enrolment
• Accountancy Practice for 20 Years• Payroll software development• Expanded into the UK – BrightPay &
Bright Contracts• 80,000 employers across the UK &
Ireland use our products
Paul Byrne
• Small & Micro Businesses
• Auto Enrolment as a Service
• Automate Auto Enrolment Duties
• Increase Profits from Auto Enrolment
• BrightPay’s Key Take Aways
Agenda
Entitled Workers
Non Eligible Jobholders
Eligible Jobholders
Auto Enrolment Overview
Eligible Jobholders • Aged between 22 and State Pension
age• Earn more that £10,000 per year• Work, or ordinarily work, in the UK
Auto Enrolment Overview
Small Employers and Auto Enrolment
Small Employers and Auto Enrolment
87,544Employers completed
declaration of compliance
1,800,000Employers who have yet to
reach their staging date
Small Employers and Auto Enrolment
Small Employers and Auto Enrolment• Large and medium employers: HR personnel to help
with auto enrolment
• Small and micro employers: lack of in-house expertise
• Majority of employers yet to stage will not have the knowledge or experience to make informed AE decisions
Small Employers and Auto Enrolment• Information overload - confused,
bewildered and overwhelmed
• Expected that 78% of these will turn to an accountant, bookkeeper, or payroll bureau for advice and counsel
• Gift wrapped business opportunity
Auto Enrolment as a Service
Auto Enrolment as a Service
Employers with less than 50
employees
of an accountants client base is made up
of:
90%
• Are you ready or prepared to take on auto enrolment business?
• What level of support / information will you offer?
• Are you prepared for employers coming to you last minute?
Auto Enrolment as a Service
Auto Enrolment as a Service
1.Time saving
2.Cost saving
3.Focus on core areas
4.Expertise
• By offering a complete end to end solution, bureaus can generate income and enhance client relationships.
• If you offer other services, auto enrolment will provide a new platform to reach and upsell to.
• Employers will be happier to consolidate all their outsourced services to one person or advisor.
Auto Enrolment as a Service
Automate Auto Enrolment Duties
1. Set up a pension scheme
2. Assess employees
3. Communications
4. Ongoing duties
5. Declaration of Compliance
Auto Enrolment Responsibilities
• Modern innovative solutions exist that can automate AE duties
• Pre-staging – correct tools in place, register with pension provider
• Staging – 1 or 2 hours should be sufficient to deal with auto enrolment staging tasks
• Ongoing duties – some payroll software can automate the AE ongoing tasks
Streamline Auto Enrolment
Streamline Auto Enrolment• For large, repetitive or time sensitive tasks, the speed of
automated AE offers significant cost savings to bureaus. • Especially relevant when employers approach you close
to, at, or even after their staging date.• With the right tools, auto enrolment should become a
seamless part of the payroll process.
How BrightPay Handles Auto Enrolment
5 Steps to Increase Profits from Auto Enrolment
1. Communicate with Clients
2. Ensure AE Functionality
3. Streamline & Automate
4. Avoid Penalties
5. Increase Revenue
5 Steps to Increase Profits
from Auto Enrolment
• Engage with clients who have not yet staged• Find out clients’ staging date – http://bit.ly/1EuooiJ • Early and clear communication will play a big part of your
success strategy• Explain the price increase and justify the benefits • Pre-assessment overview
1. Communicate with Clients
1. Communicate with Clients
2. Ensure AE Functionality
3. Streamline & Automate
4. Avoid Penalties
5. Increase Revenue
5 Steps to Increase Profits
from Auto Enrolment
2. Ensure AE Functionality • Plays a vital role in ensuring the success of automatic
enrolment. • Payroll software can provide the necessary functions to
automate the employer admin tasks. • The Pensions Regulator urges bureaus and employers to
check with their payroll provider
1. Communicate with Clients
2. Ensure AE Functionality
3. Streamline & Automate
4. Avoid Penalties
5. Increase Revenue
5 Steps to Increase Profits
from Auto Enrolment
3. Simplify and Automate• Simplify the process and automate the AE admin chores• Reduced time spent handing each payroll client is the key
to success• Avoid inefficient or expensive AE software solutions and
save time and money. • Combined auto enrolment solution - greater efficiency,
increased value and improved cost savings
1. Communicate with Clients
2. Ensure AE Functionality
3. Streamline & Automate
4. Avoid Penalties
5. Increase Revenue
5 Steps to Increase Profits
from Auto Enrolment
• The Pensions Regulator continues to enforce fines and penalties for non-compliance
• Compliance Notices – 4,818 • Fixed Penalty Notices – 1,594• Not allowing enough time to plan could
lead to your clients being fined
4. Avoid Penalties
1. Communicate with Clients
2. Ensure AE Functionality
3. Streamline & Automate
4. Avoid Penalties
5. Increase Revenue
5 Steps to Increase Profits
from Auto Enrolment
• AE as a service will provide bureaus with a competitive edge• A clear pricing structure will allow any bureau to accurately
cost and schedule the work involved • CPD Accredited: 3 unique Auto Enrolment pricing strategies• Ensure that your pricing structure exceeds your operational
costs• Up-sell or cross-sell various services - it can become part of
your strategic growth plan
5. Increase Revenue
BrightPay’s Key Take Aways
http://bit.ly/1OQB7gj
http://bit.ly/1RkznQg
http://bit.ly/1TD32 HH
Thursday 24th March @ 10.30 am
3 unique Auto Enrolment pricing strategiesBy Paul Byrne & Victoria Clarke
Guest Speaker: John Hale, NESTRegister here - https://www.brightpay.co.uk/events/1039/
99.3%Customer
satisfaction rate
99.5%Describe interface
as user friendly
98.8%Would recommend
BrightPay
98.5% Satisfied with
Customer Support
Accredited by ICB - Read here
“The BrightPay user interface is superb and makes data capture
painless.”“The language used is easy to
understand and minimises the use of payroll jargon.“
Questions & Answers
For more information visit www.brightpay.co.uk or phone 0845
3004 304
By Ian Katte
Integrated Practice Management &
Compliance for the SME Practitioner
Questions & Answers
For more information visit www.brightpay.co.uk or phone 0845
3004 304