White labelling is a legal protocol that allows one product or service to be sold and rebranded. This is done under another company’s brand. The term “white labelling” is used based on the manual process whiting out something previously written to amend.Our payroll service work with a range of strategic partners. Who wants to build their brand but divest themselves of certain functions to manage costs and risks.We enter into a wide range of agreements with intermediaries such as accountancy practices who are looking to outsource the function whilst retaining the service. We, in effect, become the payroll department, managing all aspects of payroll on behalf of our client.
Benefits of White Labeling Service to Accountants
Payroll has never been a particularly a gainfull or appealing part of the portfolio of accountants and finance professionals. Most will retain the service as a means of providing some goodwill value to clients.Here are some of the payroll functions:
- Payroll as a function has become more and more complex over the past few years. With the advent of RTI (Real Time Information) and more recently Automatic Enrolment Pensions, accountancy practices have to give more consideration. Whether they should retain this service internally or externally.
- Accountancy fees are more profitable to accountancy firms than payroll fees. By white labelling payroll we can release certified accountants. Which optimise fee-earning income and still allowing them to retain control of their client.