Now the dust has settled after attending the Accountex trade show at London’s Excel, the Nurture team would like to share some of the insights we gained from conversations with accountants at the show and afterwards.
What instantly became clear is that the needs of our customers – companies like yours – are evolving. By sharing feedback from your peers, we hope to help you choose the right Auto Enrolment solution, and the resources and level of support required to meet your own specific needs.
As you can imagine, a number of issues came to light. These are the five most frequently raised.
1. Things are not as easy as promised.
A large number of accountants are experiencing issues with compatibility between systems. The most common reported was between Sage and a few of the Auto Enrolment providers – most notably, Now Pensions, Peoples Pension and Nest. These issues are making the whole process much more complicated and laborious than it should be.
2. Looking at changing provider.
Because of negative experiences – including the one outlined above – some accountants are now actively looking at moving from the Auto Enrolment solution they currently work with. Issues include compatibility, the amount of time it takes to process Auto Enrolment and the sheer aggravation of it all.
3. Making money from Auto Enrolment.
We spoke to a number of accountants who are experiencing difficulties in knowing how to charge for Auto Enrolment services. What is the going rate for an assessment? Can I charge more on top of my payroll fees? We know that Auto Enrolment is going to require service and support from yourselves. The key lies in identifying the right supplier – one which not only provides hands on support for you and your customers, but also a way of generating transparent and regular extra income.
4. If I don’t offer Auto Enrolment, I may lose my clients.
There is a genuine fear with some accountants that failure to offer a suitable Auto Enrolment solution may result in their clients moving to a competitor. Whilst we like to think that your clients receive much more value from you than just payroll, Auto Enrolment shouldn’t be something you should worry about. There are a number of solutions out there that REALLY do make it easy. (When choosing one, just make sure that they live up to the hype!).
5. Clients refusing to comply.
More and more accountants are becoming frustrated with the increasing number of clients who are simply refusing to comply with the new regulations. We all know they have a legal obligation to do so, and The Pension Regulator is aware of the issue – and actively issuing and enforcing fines where necessary. If anything, this is an opportunity to show your clients that Auto Enrolment isn’t as difficult or expensive as they think – by providing them with a simple FREE assessment, along with a cost effective solution which solves the problem…and answers their concerns about the cost.
If any of these 5 issues above strikes a chord with you (or if you have any other concerns not covered in this brief summary), we’d love to chat and understand your needs and concerns a little more.
We’re here to help, and to make Auto Enrolment services easy.
If you would like to know more, please get in touch