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Managing a large number of suppliers can be inefficient for any business, because every supplier has different processes and diverse working practices. The recruitment world is no different.  

At the end of the day, supporting an agency's core activity effectively requires any partner selected to provide truly great service. The reality is that umbrella and accounting providers can have vastly different approaches to supporting contractors and agencies.

What to consider when choosing your preferred supplier

The legislation around the recruitment sector is such that a supplier's processes could create a different risk profile to that of the recruitment agency. That's why clear emphasis on compliance from the provider creates a level of comfort for the recruitment agency.  We are all in business for the long term, so choosing an established, financially strong partner with good staff retention is paramount.

What are their service levels like?

Things to consider: third party review sites such as Trustpilot; reputation; breadth of service offering; account management approach.

What's their financial strength?

Things to consider: PBT generation; evidence of bank reconciliation between company and umbrella funds; confirmation tax payments are up to date; no late payment penalties; recent statutory accounts; quality of audit sign-off e.g. big four firm.

Do they have resilient compliance processes?

Things to consider: Supplier has a separate compliance function; evidence of internal controls and internal audit processes; dispensation and overarching employment contract readily available for inspection; IR35 and MSC compliance processes in respect of limited company clients.

Why is PayStream the right choice as your preferred supplier?

Renowned for delivering exceptional support:

  • Contractor UK award winner

  • Accredited by Customer Service Excellence (CSE)

  • Regular customer surveys

  • Strong outbound and proactive support

  • Clear business and service KPIs

Strong company financials:

  • Many years' trading

  • Strong balance sheet

  • Daily bank reconciliations

  • Segregation of duties

  • Fully audited

  • Offsite data storage and disaster recovery plans in place

Our focus on compliance is second to none:

  • Internal legal and compliance teams

  • Accredited by FCSA and a Trusted Partner of APSCo

  • Compliance processes reviewed regularly by BDO

Put PayStream on your team

We’re more than an umbrella company – we’re your perfect agency partner.

0161 971 8979
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