Steve Bee’s Jargonfree Benefits is harnessing new intuitive software to allow speedy scheme set-up and monthly auto-enrolment data uploads with almost no human intervention.
The predictive and technology, which is supplied by System Sync, automatically identifies which of the almost 300 different payroll software systems in existence that the employer is using and intuitively recognises specific fields of data.
As it comes across payroll systems it has not seen before it updates its processes to be able to recognise them in other employers.
Once set up, the vast majority of employers will only have to drag and drop a data file into the Jargonfree Benefits website each pay run.
The system identifies fields where there is no data, or where the data is poor, and sends the employer a request for that information. It is also able to produce payslips.
The system is designed to meet the needs of micro employers staging through the 2015 peak. It goes live with existing customers from September and will be embedded within the product for all employers signing up from June 2015.
Jargonfree Benefits, which is making an operating profit, currently holds 200 schemes with a total of 38,000 members, and is onboarding 25 to 30 schemes a month.
Bee is also planning to launch a self-build portal that will allow employers to set up a fully functioning scheme on an iPad in 10 minutes.
Jargonfree Benefits founder Steve Bee says: “Auto-enrolment is not proving to be a once and done project. Problems are arising all the time, and while big employers can pay people to sort them out, this is not the case for the micros. Without this system or something similar, which I am yet to see, auto-enrolment is a disaster waiting to happen.”
System Sync chief executive Dr Will Lovegrove says: “This intuitive software learns from the 300 or so payroll systems that are out there and can predict with accuracy what the different data fields are. In 95 per cent of cases humans will not be involved in the transfer of data from payroll to pensions beyond dragging and dropping a CSV file once a month.”