Transforming Pay & Bill - QX LTD · TIMESHEET CALCULATOR Web-based tool that automates calculation...
Transcript of Transforming Pay & Bill - QX LTD · TIMESHEET CALCULATOR Web-based tool that automates calculation...
• Bots and automation for increased efficiency
• Qualified and experienced Pay & Bill team
• Optimised and streamlined processes
Let’s transformPay & Bill, together
Castle Chambers
Off Mill Bridge, Skipton
North Yorkshire BD23 1NJ
Leverage our team of recruitment Pay & Bill experts to optimise and transform your operations.
Visit www.qxfa.co.uk Or call 0845 838 2592for a free consultation.
Transforming Pay & Billwith smart sourcing andintelligent automation
www.qxfa.co.uk
We understand how complex pay & bill for recruitment can get; from PAYE to umbrellas, from sub-contractors tomaster vendor arrangement – they all need to be accounted for. Payroll and billing for recruitment, affected by complex legislation and unique processes, can often become troublesome and time-consuming, leading to inefficiency.
QX Smart Pay & Bill solution
Engagement models
Our smart Pay & Billprocess includes:
Suite of offerings As the preferred pay & bill outsourcing company for leading recruitmentagencies, we offer a wide range of services:
Multi-sector expertise
QX makes your Pay & Bill process a smart process by bringing its knowledge, 14+ years of experience and best talent under one roof to deliver: Timely & accurate processing.
Enhanced candidate experience.
Detailed record keeping and bespoke reporting.
Deemed salary payroll with RTI reporting.
Continuous process improvement.
Digitisation and automation of repetitive tasks.
Up-to-date knowledge on agency, temporary workerand taxation legislation.
• Dedicated named contact and professional payroll team. • Text communication on receipt of timesheet and payment issue. • Timesheet rejection texts with resubmission request. • Master Vendor invoice download automation. • Accurate hours calculator including split hours. • E-payslips for speed and cost efficiency. • Sharing e-invoices to clients through email. • Advantage of time zone difference for processing.
We use our expertise and technology to improve the experience for you and your candidates to deliver an accurate, timely payroll service with efficiency improvements of up to 25% and cost savings of up to 50% against in-house delivery.
Leveraging industry expertise, skilled teams and intelligent automation, we have delivered measurable improvements for both SMEs and large, listed companies in the recruitment sector.
We are committed to helping our clients boost efficiency and reduce costs by delivering quality, accurate and timelyPay & Bill services. Our engagement models have evolved to cater best to the client requirements and business objectives.
DEDICATED (FTE) RESOURCE MODEL
You get a dedicated team or individual who works exclusively on your project. Each FTE (full-time equivalent) payroll or accounting specialist sends regular reports on a daily, weekly, monthly and annual basis, making it easy for you to track task status. A specialist accounts manager functions as your dedicated point of contact and reports directly to you.
TRANSACTION-BASED PRICING MODEL
The costs are linked directly with the number of transactions processed, with a price-per-transaction that is based on a specified band of volume. The success of this engagement model is reliant on the ability to predict the volume of transactions and the average time required to process them.
KEY BENEFITS
• Predictable pricing • Economies of scale • Dedicated teams – Partnership approach
KEY BENEFITS
• Pay only for the work done • Monitor operations costs better • Reduce overall operations costs
Setting up of New Starters and Contracts/Placements
Timesheet processing (Timesheets, Expenses,
Bonus, Holidays etc.)
Processing Statutory payments (SMP, SSP, Court
orders etc.)
Running BACSReport
Generation ofPayslips
Client Invoicing Adjustment Processing RTI Submission
Payroll Helpdesk / Dealing with Payroll Queries
Gross MarginReport
IntermediariesReporting
Healthcare Education Oil & Gas IT & Telecom Life Sciences
Engineering Construction Banking Aviation Transport Charities
We understand how complex pay & bill for recruitment can get; from PAYE to umbrellas, from sub-contractors tomaster vendor arrangement – they all need to be accounted for. Payroll and billing for recruitment, affected by complex legislation and unique processes, can often become troublesome and time-consuming, leading to inefficiency.
QX Smart Pay & Bill solution
Engagement models
Our smart Pay & Billprocess includes:
Suite of offerings As the preferred pay & bill outsourcing company for leading recruitmentagencies, we offer a wide range of services:
Multi-sector expertise
QX makes your Pay & Bill process a smart process by bringing its knowledge, 14+ years of experience and best talent under one roof to deliver: Timely & accurate processing.
Enhanced candidate experience.
Detailed record keeping and bespoke reporting.
Deemed salary payroll with RTI reporting.
Continuous process improvement.
Digitisation and automation of repetitive tasks.
Up-to-date knowledge on agency, temporary workerand taxation legislation.
• Dedicated named contact and professional payroll team. • Text communication on receipt of timesheet and payment issue. • Timesheet rejection texts with resubmission request. • Master Vendor invoice download automation. • Accurate hours calculator including split hours. • E-payslips for speed and cost efficiency. • Sharing e-invoices to clients through email. • Advantage of time zone difference for processing.
We use our expertise and technology to improve the experience for you and your candidates to deliver an accurate, timely payroll service with efficiency improvements of up to 25% and cost savings of up to 50% against in-house delivery.
Leveraging industry expertise, skilled teams and intelligent automation, we have delivered measurable improvements for both SMEs and large, listed companies in the recruitment sector.
We are committed to helping our clients boost efficiency and reduce costs by delivering quality, accurate and timelyPay & Bill services. Our engagement models have evolved to cater best to the client requirements and business objectives.
DEDICATED (FTE) RESOURCE MODEL
You get a dedicated team or individual who works exclusively on your project. Each FTE (full-time equivalent) payroll or accounting specialist sends regular reports on a daily, weekly, monthly and annual basis, making it easy for you to track task status. A specialist accounts manager functions as your dedicated point of contact and reports directly to you.
TRANSACTION-BASED PRICING MODEL
The costs are linked directly with the number of transactions processed, with a price-per-transaction that is based on a specified band of volume. The success of this engagement model is reliant on the ability to predict the volume of transactions and the average time required to process them.
KEY BENEFITS
• Predictable pricing • Economies of scale • Dedicated teams – Partnership approach
KEY BENEFITS
• Pay only for the work done • Monitor operations costs better • Reduce overall operations costs
Setting up of New Starters and Contracts/Placements
Timesheet processing (Timesheets, Expenses,
Bonus, Holidays etc.)
Processing Statutory payments (SMP, SSP, Court
orders etc.)
Running BACSReport
Generation ofPayslips
Client Invoicing Adjustment Processing RTI Submission
Payroll Helpdesk / Dealing with Payroll Queries
Gross MarginReport
IntermediariesReporting
Healthcare Education Oil & Gas IT & Telecom Life Sciences
Engineering Construction Banking Aviation Transport Charities
Why top recruitment agencies choose QX We work with the software you already use
Process optimisation and automation tools
Our Pay & Bill experience by the numbers
Leading UK agencies choose QX for their Pay & Bill requirements and continue to put their trust inour services. We walk the extra mile for our clients and our support enables businesses to streamlineaccounting operations, improve efficiency and reduce costs significantly.
Reduced processingcosts-upto 50%
Increased efficiencythrough process rigour
Detailed reportingtailored to your needs
Experience of working withvarious payroll & accounting
software systems
More time to focuson core business &
High-end tasks
230+ Qualified payrollspecialists & accountants
Insights for smarterbusiness decisions
Consistently high level ofaccuracy with quick
turnarounds
In-house automationtools for increased efficiency
Support & guidance fortechnology implementations
1M+Timesheetsprocessed annually
1Billion+Cumulative annualturnover of clients
15+Clients fromRecruitment Sector(including UK’sleading agencies)
14years+Experience in UKPay & Bill
230+Staff in payroll andaccounting teams servingrecruitment agencies
99.8%+Timesheet processingaccuracy ratio
VENDOR MANAGEMENT AUTOMATION SYSTEM
Replaces manual process of visiting websites to fetch timesheet/invoice data. Automatically visits sites, downloads data, exports to set format, and places in relevant folders. Processing online timesheets for agencies involves a number of steps:
• Log on to Master Vendor website and download timesheet reports individually. • Remove information that is not needed and edit other information to make the file ready. • Calculate the hours as per the different rates for Day shift, Night, Saturday/Sunday & Bank Holiday.• Consolidate the reports into one before uploading to the payroll software .
This is a tedious, time-consuming and error-prone task that can account for 20-25% of the time spent by thepayroll staff.
Our Master Vendor Automation System automates this entire task. The payroll staff just needs to press one button and they get two final consolidated reports in the required format – one for accounts team and one for the payroll team.
FEATURES AND BENEFITS
• Easily configurable to extract data from different types of Vendor Management web portals.• Frequency of the automatic process can be adjusted: daily, twice a week, weekly, etc. • The output format and file type of the data can also be customised as required.• With APIs and a system in place to, it is possible to upload the data directly into the payroll software, leading to further efficiency gains. • With the Master Vendor Automation Software, this is cut down to the few minutes it takes the process to run in the background.
TIMESHEET CALCULATOR
Web-based tool that automates calculation of the hours and payment for temporary workers based on shift data. Improves accuracy & TAT; helps track payroll staff performance.
TIMESHEET QUERY MANAGEMENT SYSTEM
Receives queries directly from agencies or candidates, automatically assigns queries, enables file editing and conversion, and maps each query with individual payroll professional.
Why top recruitment agencies choose QX We work with the software you already use
Process optimisation and automation tools
Our Pay & Bill experience by the numbers
Leading UK agencies choose QX for their Pay & Bill requirements and continue to put their trust inour services. We walk the extra mile for our clients and our support enables businesses to streamlineaccounting operations, improve efficiency and reduce costs significantly.
Reduced processingcosts-upto 50%
Increased efficiencythrough process rigour
Detailed reportingtailored to your needs
Experience of working withvarious payroll & accounting
software systems
More time to focuson core business &
High-end tasks
230+ Qualified payrollspecialists & accountants
Insights for smarterbusiness decisions
Consistently high level ofaccuracy with quick
turnarounds
In-house automationtools for increased efficiency
Support & guidance fortechnology implementations
1M+Timesheetsprocessed annually
1Billion+Cumulative annualturnover of clients
15+Clients fromRecruitment Sector(including UK’sleading agencies)
14years+Experience in UKPay & Bill
230+Staff in payroll andaccounting teams servingrecruitment agencies
99.8%+Timesheet processingaccuracy ratio
VENDOR MANAGEMENT AUTOMATION SYSTEM
Replaces manual process of visiting websites to fetch timesheet/invoice data. Automatically visits sites, downloads data, exports to set format, and places in relevant folders. Processing online timesheets for agencies involves a number of steps:
• Log on to Master Vendor website and download timesheet reports individually. • Remove information that is not needed and edit other information to make the file ready. • Calculate the hours as per the different rates for Day shift, Night, Saturday/Sunday & Bank Holiday.• Consolidate the reports into one before uploading to the payroll software .
This is a tedious, time-consuming and error-prone task that can account for 20-25% of the time spent by thepayroll staff.
Our Master Vendor Automation System automates this entire task. The payroll staff just needs to press one button and they get two final consolidated reports in the required format – one for accounts team and one for the payroll team.
FEATURES AND BENEFITS
• Easily configurable to extract data from different types of Vendor Management web portals.• Frequency of the automatic process can be adjusted: daily, twice a week, weekly, etc. • The output format and file type of the data can also be customised as required.• With APIs and a system in place to, it is possible to upload the data directly into the payroll software, leading to further efficiency gains. • With the Master Vendor Automation Software, this is cut down to the few minutes it takes the process to run in the background.
TIMESHEET CALCULATOR
Web-based tool that automates calculation of the hours and payment for temporary workers based on shift data. Improves accuracy & TAT; helps track payroll staff performance.
TIMESHEET QUERY MANAGEMENT SYSTEM
Receives queries directly from agencies or candidates, automatically assigns queries, enables file editing and conversion, and maps each query with individual payroll professional.
Bespoke, accurate and insightful reports
A case in point: Leading recruitment agency savesover £6.5M by forging a successful Pay & Billoutsourcing relationship
Gain a deeper understanding of your business aspects impacted by thePay & Bill function. We can deliver real time, daily, weekly, fortnightly,monthly and Annual reports of your choice.
Rising cost of processing timesheets, slower turnaround times & frequent errors were hurting the client’s competitiveness. At the same time, inaccurate and delayed management reports impacted client’s ability to make informed strategic decisions
I think the relationship is strong and I think the people we’ve dealt with have always been highly professional,and certainly very trusted, and always delivering on what they’ve committed to which is fantastic. AndI think it is fair to say that we are working in partnership with QX, which from an outsourced perspective is absolutely critical to the success for us as a business.
David Taylor, Managing Director, Medacs Global Group
I think the important thing with QX is that youhave a relationship, you have day to day communications and certainly then it is something that evolves really and you are still totally in control and QX becomes almost part of your company rather than your outsourcer. It’s the reliability factor that makes the difference.
Julian Barford, Finance Manager, Your World Recruitment Group
Having worked on numerous customer transitions to Merit, QX have built the capability to efficiently navigate the challenges that may arise during the process. I have found them to be well versedwith all the key points that need attention during the implementation of our solution, and I know that QX can offer constructive support to any business that is planning to implement Merit Payroll.
Sam Radion, Sales Director, Merit Software
Business challenges
Benefits
£6.5Mcostssavings
Faster TAT formanagementaccounts
99.8%payrollprocessingaccuracy
SALES Vs MARGIN PER DIVISION(*Figures in ‘000)
AHP
145 13032
790
110217
21
543
98
£0
£2,000
STAFF DOC COM NUR
1,015
SALES Vs COST PER DIVISION(*Figures in ‘000) Cost of Sales
Total Sales
AHP
870
130
790
217 196
543
£0
£2,000
STAFF DOC COM NUR
98
1,015
680443
£0
£20,000
£40,000
£60,000
£80,000
£,100,000
PERM INVOICINGPerm Invoicing
Jan-18
£82,545
£82,545
Feb-18
£75,250
Mar-18
£62,850
£62,850£75,250
NO. OF STAFF - PAYROLL TEAM
0
20
No. of Staff Payroll Team
Jan-18
12
12
Feb-18
12
12
Mar-18
12
12
STARTERS & PLACEMENTS
£0
500
1000
Starters & Placements
Jan-18
144
144
Feb-18
132
Mar-18
754
754
132
ACCURACY RATIO
0
30
60
90
120
Errors by PayrollAccuracy Ratio (%)
Jan-18
8
8
Feb-18
7
7
Mar-18
9
9
99.88
99.88
99.90
99.90
99.87
99.87
TOTAL TIMESHEETS
6,000
6,500
7,000
7,500
Total Timesheets
Jan-18
6,528
6,528
Feb-18
6,755
6,755
Mar-18
7,168
7,168
(*Figures in ‘000)
MARGIN PER CLIENT
XYZ - £59
ABC - £32
EFG -£70
JKL - £110MNO - £21
PQR - £75
TUV - £39
(*Figures in ‘000)
CONSULTANTS’ MARGINCon1
8%
Con217%
Con327%
Con45%
Con519%
Con610%
Con714%
Candidate/Client Set up
Timesheetprocessing
Issue Bacsfile
Queryresolution
Submissionto HMRC
IssuePayslips &Invoices
Tools/platform used: Timesheet management (CRM), Timesheet calculator, Merit payroll software, Safe Financials.
QX’s comprehensive solution
Bespoke, accurate and insightful reports
A case in point: Leading recruitment agency savesover £6.5M by forging a successful Pay & Billoutsourcing relationship
Gain a deeper understanding of your business aspects impacted by thePay & Bill function. We can deliver real time, daily, weekly, fortnightly,monthly and Annual reports of your choice.
Rising cost of processing timesheets, slower turnaround times & frequent errors were hurting the client’s competitiveness. At the same time, inaccurate and delayed management reports impacted client’s ability to make informed strategic decisions
I think the relationship is strong and I think the people we’ve dealt with have always been highly professional,and certainly very trusted, and always delivering on what they’ve committed to which is fantastic. AndI think it is fair to say that we are working in partnership with QX, which from an outsourced perspective is absolutely critical to the success for us as a business.
David Taylor, Managing Director, Medacs Global Group
I think the important thing with QX is that youhave a relationship, you have day to day communications and certainly then it is something that evolves really and you are still totally in control and QX becomes almost part of your company rather than your outsourcer. It’s the reliability factor that makes the difference.
Julian Barford, Finance Manager, Your World Recruitment Group
Having worked on numerous customer transitions to Merit, QX have built the capability to efficiently navigate the challenges that may arise during the process. I have found them to be well versedwith all the key points that need attention during the implementation of our solution, and I know that QX can offer constructive support to any business that is planning to implement Merit Payroll.
Sam Radion, Sales Director, Merit Software
Business challenges
Benefits
£6.5Mcostssavings
Faster TAT formanagementaccounts
99.8%payrollprocessingaccuracy
SALES Vs MARGIN PER DIVISION(*Figures in ‘000)
AHP
145 13032
790
110217
21
543
98
£0
£2,000
STAFF DOC COM NUR
1,015
SALES Vs COST PER DIVISION(*Figures in ‘000) Cost of Sales
Total Sales
AHP
870
130
790
217 196
543
£0
£2,000
STAFF DOC COM NUR
98
1,015
680443
£0
£20,000
£40,000
£60,000
£80,000
£,100,000
PERM INVOICINGPerm Invoicing
Jan-18
£82,545
£82,545
Feb-18
£75,250
Mar-18
£62,850
£62,850£75,250
NO. OF STAFF - PAYROLL TEAM
0
20
No. of Staff Payroll Team
Jan-18
12
12
Feb-18
12
12
Mar-18
12
12
STARTERS & PLACEMENTS
£0
500
1000
Starters & Placements
Jan-18
144
144
Feb-18
132
Mar-18
754
754
132
ACCURACY RATIO
0
30
60
90
120
Errors by PayrollAccuracy Ratio (%)
Jan-18
8
8
Feb-18
7
7
Mar-18
9
9
99.88
99.88
99.90
99.90
99.87
99.87
TOTAL TIMESHEETS
6,000
6,500
7,000
7,500
Total Timesheets
Jan-18
6,528
6,528
Feb-18
6,755
6,755
Mar-18
7,168
7,168
(*Figures in ‘000)
MARGIN PER CLIENT
XYZ - £59
ABC - £32
EFG -£70
JKL - £110MNO - £21
PQR - £75
TUV - £39
(*Figures in ‘000)
CONSULTANTS’ MARGINCon1
8%
Con217%
Con327%
Con45%
Con519%
Con610%
Con714%
Candidate/Client Set up
Timesheetprocessing
Issue Bacsfile
Queryresolution
Submissionto HMRC
IssuePayslips &Invoices
Tools/platform used: Timesheet management (CRM), Timesheet calculator, Merit payroll software, Safe Financials.
QX’s comprehensive solution
• Bots and automation for increased efficiency
• Qualified and experienced Pay & Bill team
• Optimised and streamlined processes
Let’s transformPay & Bill, together
Castle Chambers
Off Mill Bridge, Skipton
North Yorkshire BD23 1NJ
Leverage our team of recruitment Pay & Bill experts to optimise and transform your operations.
Visit www.qxfa.co.uk Or call 0845 838 2592for a free consultation.
Transforming Pay & Billwith smart sourcing andintelligent automation
www.qxfa.co.uk