Modulr, an embedded payments platform, has added payroll services to its integration with Xero, the online accounting software provider, to help businesses reduce payroll payment errors and admin overhead, ensuring employees get paid accurately and on time, every time.
Despite advances in technology and the negative impact of payroll going wrong, many teams persist in using outdated solutions. According to Global Payroll Association (GPA) research, 47 per cent of all UK employees have been affected by payroll errors.
A further 13 per cent were forced to wait until their next pay cheque for payroll errors to be rectified – causing avoidable emotional distress for employees and payroll professionals.
To address these issues, Modulr has extended its Xero integration, now offering automated single or batch payroll payments. It explained it hopes to help customers reduce errors and cut payroll processing times by up to 80 per cent, approve payments on the go with the mobile app, as well as consolidate multiple payments to a single payee and realise savings on transaction fees.
Steve Bradford, managing director of channel and strategic partnerships at Modulr, said: “When it comes to payroll, it is people’s livelihoods and the business’ reputation that are at stake. Payroll bureaus, accountants and businesses have enough to deal with without having to worry about unnecessary errors due to outdated systems.
“This latest addition to our integration with Xero is another step in expanding our eco-system and broadening the options payroll professionals have in optimising their processes. And through our industry-first mobile app, payroll and business leaders can benefit from smart, fast and secure approvals on the go.”
Easing the payroll process
With the integration, Xero payroll users can benefit from Modulr’s direct access to the UK’s real-time payments network, Faster Payments, with payroll payments clearing within 90 seconds, including weekends and bank holidays. This gives busy payroll professionals more time and flexibility to complete payroll processes.
Kerry Wale, senior client manager at Women Who Count, which specialises in bookkeeping, payroll and accountancy, also said: “Thanks to the Modulr and Xero integration, we can efficiently set up payments in advance or immediately for payroll without needing access to clients’ online banking.
“With real-time payments, we no longer worry about the inflexible three working day lead time of traditional Bacs payments. Overall, this new integration allows us to deliver an end-to-end payroll process, with smooth onboarding and excellent support from the Modulr team.”
Modulr is the payments partner of choice for leading accounting and payroll software providers including Xero, Sage, IRIS and BrightPay, and is already trusted by thousands of accountants, payroll bureaus and businesses to streamline payroll and invoice payment processes.
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