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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