Whether it’s built in-house or provided by a third party, almost every UK-based umbrella company uses umbrella company software. Not only can umbrella company software make life easier for those working at the umbrella company, but there are loads of benefits available to umbrella company employees too. Keep reading, and we’ll explain what umbrella company software is and why it’s so helpful.
Umbrella company software greatly helps organisations process payroll
From an umbrella company’s perspective – using software can be highly beneficial. Here are just some of the many reasons umbrella companies either choose to build their own software, or engage with an external software provider:
- Software can save plenty of time by automating internal processes. And it can ensure payroll is processed accurately.
- It can help automatically calculate tax figures etc. and speed up sending money to HMRC (PAYE).
- Software can automatically flag potential errors.
- Many software is built with highly in-demand integrations, including with industry-leading content management systems (CMS). This allows umbrella companies to link their internal processes – improving efficiency and accuracy.
- The best software is very secure and will ensure all data is protected from potential cyber security threats.
- Most software has an easy-to-use interface, making life easier for umbrella company staff.
- Data can be stored safely and in bulk – allowing everything essential to be saved in the cloud (reducing the risk of missing documents).
- In many cases, software can be accessed anywhere with an internet connection. This is very handy, especially if umbrella company staff members are working from home, etc.
- Most software can accommodate umbrella companies that process expenses (reimbursed expenses), meaning employees can upload receipts and be stored instantaneously on the software.
- Using software provided by external professionals can help umbrella companies save money and boost productivity.
Heaps of benefits available to umbrella company employees
Umbrella company software can also be valuable to contractors, freelancers and temporary workers who use the services of umbrella companies. Here are some of the reasons software can be so helpful:
- Most umbrella company software can be securely accessed anywhere with an internet connection. Often, software will have an “online portal” – a system where users can log in using individual credentials (usually given to them by the umbrella company once registration is complete).
- Many software providers will have special applications that can be downloaded on the Apple App Store and Google Play. This makes it very easy to use.
- Software allows umbrella company employees to submit hours worked efficiently. In the past, it was common for umbrella employees to fill out paper versions of timesheets and then send them to both their agency and umbrella company. With the assistance of software, this streamlines the process significantly.
- By logging into the software, employees can access umbrella company payslips
- Claiming expenses can be made exceptionally more accessible with software. Contractors can take photographs of their receipts and upload them to the software with the click of a button.
- Data sharing with an umbrella company is made easier with software.
- Software can even streamline the umbrella company registration process. In some cases, umbrella employees can upload documentation directly via the online portal (e.g. proof of identification).
The most popular umbrella company software in the UK marketplace
There are plenty of well-known manufacturers of umbrella company software in the UK. The most common and recognised umbrella company software is:
It’s worth noting that while a lot of software is designed for both umbrella companies (administration) and umbrella employees to use – some are only tailored to one party and not both.
Top 10 umbrella companies
If you’re interested in using an umbrella company for the first time, or you’re keen to switch to a provider that offers better service – you’ve come to the right place. Please check out our top 10 umbrella companies. They are all accredited by either the FCSA (Freelancer and Contractor Services Association) or Professional Passport, and some have special offers at the moment.