Navigating the choppy waters of the staffing and umbrella company market used to feel like a game of trust – or, more accurately, mistrust. With auditors and stakeholders constantly on their toes, doubting every document and second-guessing the integrity of the supply chain, it was clear something had to be done about it.
My Digital and SafeRec have long been at the forefront of software innovation, championing compliance and transparency in the temporary workforce market, and thanks to their collaboration SafeRec’s AI-driven real-time payslip vetting is seamlessly integrated within My Digital’s payroll software. In an era where trust and transparency are more vital than ever, their integrated solution ensures that compliance is at the forefront of umbrella payroll operations benefiting all involved in the supply chain.
What did the industry look like before this integration?
Before the emergence of SafeRec, the process relied entirely on the documents submitted by the umbrella companies themselves, placing an enormous burden of trust on the honesty and integrity of those being audited. It raised unsettling questions: What if the Umbrella Company decided to provide forged RTIs or fabricated contracts? The arrangement was fraught with potential vulnerabilities, leaving auditors and stakeholders vulnerable to deceit and non-compliance.
However, SafeRec recognized these inherent risks and took a monumental step forward by introducing ‘Audit at Source’ – a game-changing innovation in the industry. Through strategic partnership with My Digital, SafeRec now conducts audits directly on payslips within the My Digital payroll software. This transformation empowers auditors and stakeholders with unparalleled transparency and accountability, ensuring that compliance and ethical standards are upheld. Moreover, in the spirit of transparency, every worker receives a copy of the payslip audit report, putting control and peace of mind back where it belongs – in the hands of those who depend on the integrity of the temporary workforce supply chain.
A technological milestone for the industry
The integration between SafeRec and My Digital stands out as a transformative milestone in the realm of the temporary workforce supply chain, and SafeRec’s pioneering AI technology plays a pivotal role in this innovation. SafeRec’s tech introduces a new era of precision and accountability, where every facet of the payroll process undergoes rigorous scrutiny. It meticulously audits every payslip within My Digital payroll software, leaving no room for errors. This process ensures that every calculation is accurate, providing workers and clients with complete confidence in their financial transactions.
Furthermore, SafeRec’s AI technology goes beyond mere payslip scrutiny. It also conducts comprehensive cross-referencing with the amounts sent to your Umbrella Company by the Recruitment Agency. This cross-referencing feature serves as an additional layer of validation, assuring all parties involved that the financial transactions align seamlessly across the supply chain.
But the innovation doesn’t stop there. SafeRec’s AI tech extends its cross-referencing capabilities to the amounts of Income Tax and National Insurance Contributions (NIC) paid to HMRC. This meticulous verification process ensures full compliance with tax regulations, offering both temporary workers and clients the assurance that their financial affairs are in perfect order.
Hurray! The supply chain transparency is finally here
In essence, SafeRec’s integration with My Digital, bolstered by its pioneering AI technology, not only guarantees transparency but also redefines the standards of accuracy and compliance in the temporary workforce supply chain.
The benefits of this integration are now available to all umbrella companies using My Digital as their payroll platform, and all recruitment agencies working with My Digital affiliated umbrellas can enjoy peace of mind knowing that their payroll partners are compliant.
