This post was originally published on The FinTech Times
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Despite advances in technology and the negative impact of payroll going wrong, many teams persist in using outdated solutions.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
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