Back in July 2019, we opened our London office. Twelve months on, we thought it would be a good time to reflect on the journey so far.
Over the last year, we've had some fantastic customers join us as we continue our quest to make payroll a more straightforward and efficient process for companies all across the UK.
Thanks to continuous feedback and a super motivated product team, PayFit's payroll and HR software has seen incredible developments since its UK launch!
Here is a quick recap of some of the highlights and the changes we’ve made to help make our software what it is today.
One year of product development at PayFit.
- Flexible and personalised payroll run [July 2019]
- Smooth employee onboarding [August 2019]
- Boost employee engagement with perks [September 2019]
- Track all types of leaves and absences [October 2019]
- Run payroll three times faster with our payroll dashboard [November 2019]
- Quicker payments [December 2019]
- Track employees working hours [February 2020]
- Ensuring a smooth end to the tax year [March 2020]
- Support during COVID-19 [April 2020]
- Error-free payroll with our in-app payroll checklist [May 2020]
- Expenses and payroll integrated into one tool [June 2020]
- This July, we're launching the Payslip of the Future 🚀
Flexible and personalised payroll run [July 2019]
Our customers are a diligent bunch—you know, the sort you have to be to run payroll. They're also the type who want to get ahead of things and organise their payroll well in advance.
Nobody likes to miss out on annual leave or work ridiculously long hours in the last week of each month, do they?
That's why our app allows admins to run their payroll whenever they want from the 20th of each month.
This change was made as we wanted to provide customers with greater flexibility regarding running their payroll and provide them with more time to focus their attention on higher-value tasks.
Smooth employee onboarding [August 2019]
We improved our onboarding feature so that adding a new starter is much quicker and more efficient.
Thanks to this update, the app allows admins to send out questionnaires, collect all important information and build customised checklists to get new employees started in the best possible conditions.
Some of our fastest-growing customers have been adding up to 20 new starters a week. Naturally, we're incredibly pleased that this feature has made the onboarding process much smoother!
Boost employee engagement with perks [September 2019]
We know how critical employee engagement is, and we're proud to offer great flexibility for employers looking to provide a wide range of benefits to their employees.
On PayFit, admins can manage benefits such as credit cards, meal vouchers, company cars and even gym memberships.
Once these benefits have been recorded on the app, they are then reflected on the P11Ds at the end of the tax year. The P11Ds are generated automatically to be sent to employees directly.
Track all types of leaves and absences [October 2019]
We're always looking at ways of offering more automation to our customers when running payroll.
Back in October, we added more types of leave on the app, including sick leaves, time off in lieu, keep in touch (KIT) days, compassionate leave, and occupational maternity and paternity leave.
Occupational leaves are always a hot topic, and we at PayFit appreciate that employers like to provide their employees with leave that goes beyond the statutory requirements. This is why we added a feature that allows admins to personalise their occupational leave policy within the app.
These new additions meant that admins no longer have to spend hours doing manual calculations. Now, they're all automatically done within the app!
We also released a Maternity Monthly Payment Simulator to provide more clarity on calculations.
Run payroll three times faster with our payroll dashboard [November 2019]
Undoubtedly our customers' favourite feature. PayFit's payroll dashboard allows app admins to run payroll in just three clicks!
We all know that running payroll can be a time-consuming task, and it is for this reason we're always looking to find ways of speeding up and simplifying the process.
Our payroll dashboard was designed to help customers ensure that there are no errors before finalising payroll, provide better visibility on company totals and month-on-month changes, and access or amend employee data in just one click.
Quicker payments [December 2019]
Nobody likes waiting for things, least of all at Christmas.
We all know that there's nothing worse than a long gap between finalising payroll and the money arriving in employee bank accounts.
This is why we chose to partner with Telleroo to deliver our clients with the super speediest payment process around.
In fact, it's so quick that the time it takes to transfer money from a business's account to arriving in an employees' bank accounts can be as little as 30, yes THIRTY, seconds!
Track employees working hours [February 2020]
We added a time tracking feature which allows app admins to track and record working hours in a much simpler way.
Hours can vary across several days—e.g. weekdays and weekends, or even day shift and night shifts. Therefore, we understood that it was essential to offer PayFit customers the option to record different hourly rates within the app.
Ensuring a smooth end to the tax year [March 2020]
March can be a testing month for payroll administrators. With the end of the tax year rapidly approaching, payrollers often find themselves bogged down in small but time-consuming tasks.
Our product team identified that one way the app could help was by ensuring that all P11 and P11D(b) submissions could be automated within the app.
Another great benefit of having cloud-based payroll software is that we could update it to meet the changes in legislation and ensure 100% compliance, all without requiring a software update.
Support during COVID-19 [April 2020]
In late March and early April, the coronavirus pandemic began severely impacting businesses all across the UK.
The pandemic also brought about pretty significant changes in payroll administration, including amendments to Statutory Sick Pay (SSP) and the introduction of the Coronavirus Job Retention Scheme (CJRS), more commonly referred to as the furlough scheme.
For various reasons, this period was extremely testing for many businesses, and we understood that payroll professionals faced an uphill battle to ensure that their April run was compliant with the legislative changes.
The app was updated to allow admins to automatically calculate any coronavirus-related absences in line with the new SSP regulations and calculate the cost of furloughing employees.
We also added a COVID-19 report function within the app to help admins keep on top of their organisation's latest developments.
Finally, we made improvements to the Documents section within the app to optimise the overall user experience. This update aimed to improve the search and navigation features to allow app administrators to find files they were searching for more efficiently.
Error-free payroll with our in-app payroll checklist [May 2020]
Payroll is never easy, and its fiddly nature can mean that errors are relatively common.
So, we decided that it would be helpful to provide admins with a Monthly Actions checklist to help reduce the risk of errors occurring and ensure that their payroll run went as smoothly as possible.
Expenses and payroll integrated into one tool [June 2020]
Expenses are a huge problem for businesses. In fact, it is estimated that expense fraud costs private companies in the UK about £140 billion each year.
While this eye-watering sum may seem like the biggest expenses-related problem facing businesses, those in charge of expense administration are likely to say that the time spent sorting and checking employee expenses is a more significant problem.
The introduction of our expense feature, including robust optical character recognition (OCR) technology that reads text automatically when uploading a receipt, allowed app administrators to clearly define their company's expense policy.
The app was also updated to include a better validation workflow. Each expense, once approved, is automatically added to the employee's payslip enabling app administrators to significantly reduce the time they spend administering expenses.
This July, we're launching the Payslip of the Future 🚀
To celebrate our first anniversary, we are proud to be releasing the Payslip of the Future.
Nothing symbolises the outdated world of payroll more than conventional payslips.
Bland, uninteresting and void of creativity, most payslips fail to provide a link between work and pay.
At PayFit, we believe payslips should represent much more than just proof of payment.
Our Payslip of the Future looks to disrupt payslips as we know them today by educating employees and providing them with all the key information they need to know.
Stay tuned to find out more...