Payroll Processing In recent years, UK payroll has significantly increased in complexity.
Fast growing work volumes that are repetitive, deadline driven, requiring a high degree of accuracy and unevenly spread across working weeks.
CLIENT : Payroll Processing
REGION :United Kingdom
INDUSTRY : Payroll
Payroll Processing
United Kingdom
Services : Managed Robotic Process Automation Services.
Fast growing work volumes that are repetitive, deadline driven, requiring a high degree of accuracy and unevenly spread across working weeks.
In recent years, UK payroll has significantly increased in complexity. PAYE tax started in 1944. Between then and 1998, four regulations were introduced, affecting pay rates and take-home pay. These were the Attachment of Earnings Orders in 1971, Retirement of NI stamps in 1975, Statutory Sick Pay in 1983 and Statutory Maternity Pay in 1987. From 1998, the complexity of payroll-associated regulations increased dramatically. For example, Student Loans of various schemes, National minimum wage and its reporting, Paternity and Adoption Pay, Pension Auto-enrolment, taxation of benefits in kind, the Apprenticeship Levy, and cycle-to-work schemes, to name just a few. Taxation also became more complicated, including different tax rates for employees in Scotland and Wales.
and since 1998, that complexity has increased exponentially.
Rules. To get people’s pay right, all those rules must be applied correctly every time.
and those deadlines are not conveniently spread throughout the week or month.
it is disproportionately expensive to run small payrolls.
that run lots of small payrolls have a job on their hands to process them all accurately and on time.
A Payroll Bureau specialising in processing smaller payrolls with a highly systematic way of getting work done. But! Even with state-of-the-art software, systems and business processes that McKinsey could learn from, there were still many checks, clicks, emails and reports, all based on rules being followed for individual employers and employees. In relentless pursuit of excellence and efficiency, Payroll Sorted had made vast chunks of processing small payrolls into ‘robot work’.
A single Bot, fully managed by Valenta, costs about the same as the monthly wage bill of a person. But a single Bot has the productivity potential of up to 20 humans. There are hindrances to achieving that, such as concurrency of tasks, having enough ‘robot work’ for the Bot to do, and availability of the work to be done. If there is enough “robot work” in a business to keep one human busy, there is usually a pretty strong business case to get a Bot on the team and move the human onto interesting/higher-value work.
“We’re super happy with how things have turned out working with Valenta’s bots at Payroll Sorted. It’s been a game-changer, making our payroll processing smoother and letting our team focus on the stuff that needs a human touch. Having bots take care of the repetitive tasks has been a big win for us. Working with Valenta has been awesome, and we’re excited to keep pushing the boundaries of what we can do together. Here’s to more innovation and growth!”
Ben
At Payroll Sorted said
99.2% of businesses in the UK have fewer than 50 employees. Those small businesses employ 48% of the total UK workforce, in round terms that is 13.1 million people on small payrolls.
or
Consulting