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Automating Payroll – A New Benefit for Clients (and it’s called Modulr)

automating payroll

Author: Kay Augustus, Head of Payroll at LHP

At LHP we are a busy team in Payroll, with over 51,000 payslips processed a year (and growing), so anything that can reduce admin time and improve accuracy for our clients is something we are interested in adopting.

Within the last few weeks, we teamed up with client JR Pet Products to trial a new integration addon to our payroll software which allows us to pay our clients’ employees via a platform called Modulr which essentially automates payroll.

Modulr cleverly links with BrightPay (payroll software) using APIs (Application Programming Interfaces). The benefits of Modulr are many. Freeing you up from the burden of administration allowing you to focus on what you do best (growing your business),

Modulr works using Faster Payments, within 90 seconds of clicking submit, the payroll is in the employee’s bank, or you can schedule a date, which also removes admin time. The employee still sees the same information they normally would on their statement – but for clients, this makes things easier and more convenient.

The first trial

Our first client trialling Modulr, runs a weekly payroll and wanting to go away on holiday he was the ideal person to ask as the automation solved an immediate and direct problem. With the burden of having to send payroll to the bank each week, it would have meant skipping a holiday, or at best taking time out during their holiday to pay staff (not great if where you are heading has no/or bad WIFI, or if you are going away to have a break from IT).

The setup process began some weeks ago with the opening of a Modulr bank account for our client. This works much like a regular bank account and Modulr FS Limited is authorised and regulated by the FCA (financial conduct authority) as an authorised electronic money institution (AEMI), meaning the client’s money is ring-fenced and secure. Modulr offers a quick turnaround with set up and we were up and running in no time.

To begin with, we emailed the client a link asking them for information on their business as well as our delegate information. The delegate information links the client to us using a unique code allocated to an accountant, much like client pensions. It allows us to see and do only what has been approved. Because Modulr is a bank account, the account holder needs to be verified to confirm they are who they say they are, by sending in their passport details direct to Modulr. Once all of this was completed, the account was set up and ready to use.

Modulr emailed the client a welcome email inviting them to register for a Modulr portal. Following the on-screen prompts, an app called ‘Authy’ was required, which acts as a 2-factor authentication to provide an additional layer of security every time you login. It also pops up later down the line when payroll approval is required.

Shortly after the client completed this process, I was informed they were live and active on the LHP Modulr portal. Here I was able to see the client’s balance to ensure that they had sufficient funds for their wages. The client went ahead and transferred money to cover the week’s wages and a trial week was run.

Here’s what our client thought:

Great service by LHP and Modulr was easy to use and freed up our time for a much-needed holiday with its automated processes.”

JR Pet Products

Modulr benefits

  • frees up admin with automated processes (no need to input data twice)
  • reduction in errors – accuracy is guaranteed when sending information through an API
  • more streamlined process and increased efficiency – giving you time to concentrate on your business
  • discreet payments on your statement – Modulr amounts are deducted as a whole sum with breakdowns only showing on Modulr dashboards
  • Real-time 24/7 payments – no need to worry about missing a BACS deadline when using Faster Payments – there is no file upload, payments are settled within 90 seconds, and can be sent 24/7 365 days a year. (BACS is file-based, settled in 3 days, funds are tied up throughout, only available on business working days, prone to error and requires higher costs for short notice payments).

Let’s Talk

If you are interested in help with your payroll or are an existing client interested in adopting Modulr, drop us a line at Let’s Talk. Our dedicated team of payroll specialists here at LHP process over 50,000 payslips a year – you are in safe hands.

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