BrightPay, Modulr partner for improved payroll payments

Thursday 8 April 2021 13:23 CET | News

Payroll software provider BrightPay has partnered with fintech Modulr to offer a better way to make payments part of payroll, according to an official press release. 

Powered by Modulr’s direct access to critical payments infrastructure, the integration will enable BrightPay to enhance their current software with a way for users to make payments at the same time as running payroll. Modulr replaces the need for accountants, payroll bureaus, and employers to upload payment files to their bank by automatically creating payroll entries in sync with payment entries. All the payroll manager needs to do is approve the payment entries and ensure their Modulr account is topped up. Modulr’s platform allows BrightPay to sync payroll calculations to payment entries, removing the need for manual processes through automation technology. This, in turn, saves payroll managers time by eliminating costly human errors when processing payroll payments, which becomes critical when dealing with large numbers of employees’ salaries and high transaction values. 

Through the partnership, BrightPay will provide efficiency for payroll managers with a better payroll workflow, while retaining the process security and approvals control to which they are accustomed. Leveraging Modulr’s direct access to the UK’s real-time payments network, Faster Payments, BrightPay can help payroll managers deliver payroll on time, every time, with the flexibility of instant emergency payments.

The integration comes at a time when businesses have struggled to manage their cash flow and payroll throughout the pandemic. The situation is exacerbated by traditional payroll processes that cannot integrate directly with payment schemes, making the process inefficient, prone to human errors, and unnecessarily at risk of online cyber-attacks and file manipulation. 

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Keywords: e-invoicing, partnership
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: United Kingdom
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Banking & Fintech

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