Potential Of Cloud Technology In The Recruitment Industry


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Sanjay Parekh, MD at WebExpenses, discusses the potential for cloud technology to avert the threat to recruitment companies from mounting red-tape and increasing costs.

WebExpenses is an award winning provider of web-based expenses solutions software serving customers across a diverse range of industries and sizes. WebExpenses was set up to offer a simple, innovative solution to the often manual and time consuming task of managing expenses.

Know more at - http://www.webexpenses.com/

Trusted by over 300 clients and used by thousands of employees in more than 60 countries, WebExpenses’ award winning expenses solutions processes £millions in travel and entertainment (T&E) spend a year. Customer implementations range from small organisations with a handful of users to those with several thousand users scattered across multiple divisions across the globe. Delivering rapid ROI, WebExpenses helps organisations increase efficiency, control employee spend and drive down operational costs.

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Potential Of Cloud Technology In The Recruitment Industry

  1. 1. Sanjay Parekh, MD at WebExpenses talks about ◦ The current industrial scenario ◦ The potential of cloud technology ◦ How to avert the threat to recruitment companies from mounting red-tape and increasing costs
  2. 2.  Recruitment agencies & hiring firms are at more risk because of new regulations introduced by the Recruitment & Employment Confederation As a result of the changes they are turning down business opportunities, splashing out large sums on external consultants and jostling to swap the burden of legal responsibility The changes introduced have increased the risks attached to off-shore products and tax-free travel dispensations
  3. 3.  Hiring firms are reducing the number of recruiters they use to avert the risk associated with the latest changes in Agency Workers Regulations The AWR changes now extend this risk to also include temporary workers Recruiters have to inform their clients of all the financial and legal implications of the changes Recruiters are now compelled to continuously update their calculations to incorporate new regulations
  4. 4.  A recent survey found that: ◦ Less than 2% of expenses claims are investigated ◦ Up to 25% of all travel claims are false ◦ £1.3 billion is leaked each year through excessive claims The latest AWR changes allow companies to incorporate reimbursements of agency-worker expenses in their payroll calculations
  5. 5.  Recent studies have estimated that implementation of new workplace rights expected over the next four years alone will cost an estimated £24 billion Businesses already spend £5.8 billion annually on external advisors/recruiters Some £29.8 billion of potential business opportunities are lost each year Over a third of hiring companies have still not factored the additional pension liabilities they will incur Figures show that the number of tribunals has trebled over the past five years, at an average cost of £8,500 each
  6. 6.  Expenses management is now fraught with risk for recruitment agencies HM Revenue & Customs has moved to clamp down on all firms who encourage contractors to exaggerate claims This prevents agencies from misusing travel allowance & subsistence Recruitment firms need to take note of HMRC’s plans to penalise companies for VAT-dodging
  7. 7.  All the hazardous legal complexity can be avoided by changing the way companies manage their HR & Finance departments Paper-based methods of managing payroll systems or expenses claims consume valuable time; leaving companies facing the perennial risk of a devastating legal oversight Automated tools give agencies a level of control over their finances Companies with transient nature of workforce and large number of temporary staff claiming T&E are perfectly suited to taking advantage of cloud based technologies
  8. 8. With WebExpenses, recruitment agencies or umbrellacompanies can: ◦ Automate implementation of new laws ◦ System capacity can be scaled up or down in proportion to the temporary staff ◦ Employees can even use smart-phone cameras to submit photographic evidence, while entering claims on the move ◦ Since the information is in the cloud, agencies can monitor employee expenditure in real-time from any location ◦ Complete archive, all entries are instantly available to the Finance Department
  9. 9. With the use of web based automated software recruiters andbusinesses alike may find that: ◦ Cloud-based solutions will ease the admin burden ◦ Climate of fear surrounding the unpredictable legal environment will subside
  10. 10. Website - http://www.webexpenses.com/LinkedIn – http://www.linkedin.com/company/WebExpensesTwitter - http://twitter.com/WebExpensesFacebook – http://www.facebook.com/WebExpensesYouTube - http://www.youtube.com/user/WebExpenses