Transforming Pay & Bill - QX LTD · TIMESHEET CALCULATOR Web-based tool that automates calculation...

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Bots and automation for increased efficiency Qualified and experienced Pay & Bill team Optimised and streamlined processes Transforming Pay & Bill with smart sourcing and intelligent automaon www.qxfa.co.uk

Transcript of Transforming Pay & Bill - QX LTD · TIMESHEET CALCULATOR Web-based tool that automates calculation...

Page 1: Transforming Pay & Bill - QX LTD · TIMESHEET CALCULATOR Web-based tool that automates calculation of the hours and payment for temporary workers based on shift data. Improves accuracy

• 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

Page 2: Transforming Pay & Bill - QX LTD · TIMESHEET CALCULATOR Web-based tool that automates calculation of the hours and payment for temporary workers based on shift data. Improves accuracy

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

Page 3: Transforming Pay & Bill - QX LTD · TIMESHEET CALCULATOR Web-based tool that automates calculation of the hours and payment for temporary workers based on shift data. Improves accuracy

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

Page 4: Transforming Pay & Bill - QX LTD · TIMESHEET CALCULATOR Web-based tool that automates calculation of the hours and payment for temporary workers based on shift data. Improves accuracy

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.

Page 5: Transforming Pay & Bill - QX LTD · TIMESHEET CALCULATOR Web-based tool that automates calculation of the hours and payment for temporary workers based on shift data. Improves accuracy

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.

Page 6: Transforming Pay & Bill - QX LTD · TIMESHEET CALCULATOR Web-based tool that automates calculation of the hours and payment for temporary workers based on shift data. Improves accuracy

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

Page 7: Transforming Pay & Bill - QX LTD · TIMESHEET CALCULATOR Web-based tool that automates calculation of the hours and payment for temporary workers based on shift data. Improves accuracy

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

Page 8: Transforming Pay & Bill - QX LTD · TIMESHEET CALCULATOR Web-based tool that automates calculation of the hours and payment for temporary workers based on shift data. Improves accuracy

• 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