The IRIS story goes back over 35 years, in which time they have carved out a reputation for excellence in accountancy and payroll services. With almost 40,000 “Solutions” processed per year, IRIS provides products and services to 50% of GPs in the UK, as well as 18% of all UK business.
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Products and Services
IRIS provide a large array of products and services that can suit just about all business sizes and sectors. Although all businesses can benefit from a professional payroll provider, which product is right for you will depend on a number of factors:IRIS offer the following software options
- Free Payroll Software
- SME Payroll Software
- Large Business Payroll Software
- Payroll Services
Free Payroll Software
If your business has under 10 employees, IRIS Basics Payroll Software is suitable, free and easy to use. It is fully integrated and recognised by HMRC online services and also offers a 30 day free electronic payslip facility, with no further obligations.
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Automatic NI, PAYE and other statutory payments can be easily processed for up to 10 employees and the entire software is RTI capable. What’s more, all updates, both legal and software, are also free.
Small to Medium Sized Business Payroll Software
Small to medium sized businesses are less likely to be able to afford to outsource their payroll needs so it is important that they utilise the correct software to make the process as straightforward, yet flexible, as possible.
IRIS SME (Small to medium enterprises) payroll software can be used for businesses that employ up to 250 staff but is also suitable for those who with as few as 5. Real time compliant, simple to use and with several automatic features, it has cloud based capabilities and can grow in complexity as your business develops.
Large Business Payroll Software
The larger a business is, the more complex their needs will generally be. For businesses who employ over 250 staff, a comprehensive software package that provides various intricate functions is often vital to running an efficient business.
The IRIS Earnie Executive software package is capable of processing payments for up to 1,000 employees and is flexible enough to cope with even the most complex of operations. Alternatively, Earnie IQ offers such enormous scope it is suitable for businesses with up to 10,000 employees and can import all your data from an existing payroll software, making it one of the most straightforward upgrades in payroll software.
Because payroll management can be a complex and time consuming endeavour, it is often wise to outsource the entire procedure to a professional provider. IRIS are one of the most well renowned providers in the UK with decades of experience.
IRIS payroll services encompass data importing, payroll validation (to make sure that mistakes are avoided), tax payments, student loans, court orders and many other payments. It is easily amended and flexible enough to process each individual need while remaining compatible with HMRC requirements.
It is particularly well designed to deal with the specific needs of the construction industry and the legal matters that are inherent in the sector.
Pros And Cons
Knowing whether to outsource your payroll needs, use a specific software or even employ an in house financial department all come with many advantages and disadvantages so it is important to know what it is you require from a payroll service or product.
Firstly it is imperative, especially if you wish to outsource the process, to find a reputable company. A company such as IRIS offers a great deal of knowhow and comes with tried and tested security measures that are vitally important for a company when handing over such sensitive information.
Outsourcing is highly beneficial to some because it can be a hugely time consuming task, especially if your staff are not trained to deal with such undertakings. On top of this, a wrongly calculated tax return can end up being hugely costly.
Some companies, however, cannot afford to employ such a service and the smaller the business, the less complex their needs will be. For some it may make financial sense to use a free software package, such as the IRIS Basics Payroll Software. Others may prefer to keep the process in house, using an appropriate software product and training their staff accordingly. Because IRIS software packages are easy to use, flexible and intuitive, this can be a cost efficient method.
Whichever IRIS product or service you require, it does pay to think carefully about the pros and cons associated with your choice as inefficient payroll management can be damaging in the long term.