Cost of compliance for SMEs goes up by 8.5% in the past two years, Tensor can help them save money

A new research carried out by lobby group Forum of Private Business (FPB) revealed the fact that the cost of meeting compliance measures has risen by a staggering 8.5% over the past two years for small and medium businesses, despite of the Government’s promises to actually reduce compliance-related costs.

Cost of compliance for SMEs goes up by 8.5% in the past two years, Tensor can help them save money image 1

According to a media news report, research also showed that firms are paying 11% more to external providers of payroll and tax support compared with two years ago, which the employer support organisation said was most likely down to the introduction of Real Time Information.

Nevertheless, not all data from the Forum of Private Business research is negative, the study revealing the fact that internal Health and Safety costs have fallen slightly compared to 2011.

Tensor plc has an extensive experience in the field of Human Resources management and Time and Attendance solutions, our range of products enabling companies of all sizes to reduce overall operational costs by enhancing their workforce management processes’ level of efficiency.

The Tensor WinTA.NET is a world-class web enabled Smart Card based Time & Attendance and Integrated Security Management System, incorporating a complete smart card time and attendance system including European Working Time Regulations checking and reporting, ensuring that your company remains compliant with both regional and national legislation.

The solution supports comprehensive user-definable Working Patterns, Rosters, and Shifts, annualised hours and Flexitime methods of payment, as well as extensive EU Working Time Regulations checking and reporting.

The software also offers a very useful Export to Payroll function, allows data to communicate with all the major payroll packages such as Sage, Pegasus, Centrefile, Unipay and many more, thus reducing overall costs.

If you’d like to find out more about the extensive range of features delivered by the Tensor WinTA.NET solution, just contact our dedicated product team or Book a Demo, our representatives will be more than happy to answer all of your questions and queries.

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