UK-based Pento has raised USD 35M to move European SMEs off payroll outsourcing. By doing this, Pento strives to revolutionise payroll as it is outsourced. This solution is made possible by Pento’s digital platform, which simplifies the entire payroll process.
This funding has enabled Pento to make payroll outsourcing easier for European SMEs. In this article, we will examine how Pento is making payroll outsourcing easier for SMEs.
Overview of Pento
Pento is a secure, automated payroll outsourcing system specifically designed to meet the needs of small and medium businesses. We offer a complete end-to-end solution for managing payroll tasks – from tax filing to wages administration and error-free payments. Our intuitive platform is designed to make payroll processing nearly effortless for our clients. In addition, it contains valuable features such as detailed payment summaries, customizable employee records, automated payment reminders and secure payroll tax filing.
Through cloud technology, Pento enables companies to access up-to-date information about their payroll activities from any device with internet access. Our system also provides comprehensive security measures to protect sensitive data against malicious attack or unauthorised access. As such, Pento allows businesses to drastically reduce their processing time while improving accuracy and control.
For businesses operating in multiple states or countries, we provide reliable polyglot solutions tailored according to each region’s legislative framework. We also feature dedicated customer service channels which offer business owners assistance with troubleshooting, training and onboarding tasks whenever required. Ultimately, Pento simplifies the complexities of administering an SME’s payroll process without sacrificing accuracy or compliance requirements – making outsourcing an easier decision than ever!
What makes Pento different
At Pento, we understand the unique payroll needs of small and medium-sized enterprises (SMEs). Therefore, we specialise in providing easy, secure and efficient payroll outsourcing solutions tailored to the specific requirements of SMEs.
Our team of experienced payroll professionals ensures that every process step is handled efficiently and with the utmost attention to detail. From initial setup and implementation to ongoing maintenance, our specialists are always on hand to answer questions, provide helpful advice and make adjustments as needed. We understand that payroll processing can be tricky, so our goal is to make it hassle-free for businesses.
Pento differs from other vendors because we offer tailored payroll solutions designed with SMEs in mind. We offer intuitive software applications with powerful features such as auto-billing, built-in compliance tools and detailed reporting capabilities – all backed by our expertise in understanding and responding to local taxation regulations. In addition, our knowledgeable team provides personalised customer support around the clock so you can stay focused on running your business without worrying about missed payments or incorrect tax filings. Regardless of your company’s size or complexity, you can rely on us for cost-effective solutions crafted specifically for your situation.
UK-based Pento Raises USD $35M to Move European SMEs Off of Payroll Outsourcing
Growing businesses often face the challenge of managing their payroll process, whether it’s internally or via payroll outsourcing. UK-based Pento recognized this problem and raised USD 35M to help move European SMEs off payroll outsourcing. Pento provides an automated platform that helps SMEs access the same level of payroll outsourcing as larger enterprises.
Let’s dive into the benefits that Pento provides for small and medium-sized businesses.
Cost savings
Outsourcing your company’s payroll needs can bring numerous benefits, but cost savings is undoubtedly the biggest advantage. By eliminating the need to process payroll internally, you can save significant time and money that would otherwise be dedicated to payroll services. With Pento, in particular, businesses can use their low-cost pay-as-you-go model and free up more capital for other investments. In addition, the cost savings achieved through externalising your payroll tasks can help you strengthen your bottom line and increase your overall business efficiency.
Beyond this, however, other cost benefits are associated with outsourcing payroll processes such as reduced overtime costs caused by manual errors or an extra administrative burden on the organisation. Additionally, companies have access to resources they may not have access to if they operated their internal systems such as specialised support teams or dedicated HR experts that guide all kinds of legal or taxation matters related to payroll processing. Pento makes pricing simple by offering many plans and services tailored to each organisation’s specific needs and objectives.
Automation
Pento is an innovative payroll solution that provides a range of automated features to simplify the payroll outsourcing process for SMEs. Automation helps users complete their payroll processing faster, efficiently, and with fewer errors.
By hosting all your employee data in one place, Pento’s automated functions make accessing and maintaining employee records easier. This greatly reduces manual paperwork and drastically simplifies the repetition of routine activities like payroll calculations, salary payments, filing reports, etc. Furthermore, it eliminates one of the common head-aches associated with dealing with freelance labourers whose wages are often erratic or fluctuating.
Pento also has a range of features that enable you to save time when processing multiple transactions simultaneously. For example, its Bulk Processing capabilities allow you to generate and print pay stubs simultaneously and automate payment releases across multiple accounts or employers while still providing individualised results for each employee or contractor. Additionally, users can leverage Pento’s Auto Intimation tool which automatically informs undertakers about their upcoming wage increments or deductions in advance.
By integrating the latest technologies into its suite of products, Pento helps SMEs save valuable time and resources by facilitating paperless transaction resolution processes seamlessly integrated into existing payment systems like netbanking or UPI services. As organisations strive towards digital transformation they must have access to a reliable system that can accommodate their needs efficiently and seamlessly as automation plays an increasingly critical role in modern business methods.
Compliance
When you entrust your payroll to Pento, you can rest assured that your payments comply with all laws and regulations. We are very involved in keeping ourselves up to date with the continuously changing legal landscape – both in Europe and beyond, which helps us streamline key processes consistently across the board.
We guarantee compliance with local taxes, social security obligations and any other requirement your business might need, ensuring that all payroll is processed accurately.
As part of our package, we provide one-off legislative guidance from experts regarding country-specific regulation changes and real-time information on payslips and tax stamps changes for every payment run. Furthermore, our team of specialists provides Company Secretarial Services. It helps with filing tax returns on behalf of our clients – another thing that makes outsourcing payroll to us easier than ever before.
Pento’s Impact on European SMEs
UK-based Pento has made a big splash in the payroll outsourcing space by providing a solution that simplifies the process for small-medium businesses (SMEs) across Europe. With a recent $35 million investment, Pento can now take their software-as-a-service (SaaS) model to the next level and expand their reach even further.
In this article, we’ll discuss the impact Pento has had on SMEs in the region and why they are considered the go-to choice for payroll outsourcing solutions.
How Pento has helped SMEs
Small and medium-sized businesses (SMEs) have long been the backbone of the European economy, accounting for around 90% of the region’s businesses and providing employment for millions of citizens. But operating a successful enterprise is often fraught with difficulties due to the ever-changing landscape of laws, regulations and technological solutions.
Regarding payroll outsourcing, SMEs have often had limited options due to cost restrictions or a lack of integrated systems that enable them to access the information they need quickly and easily. This is where Pento has greatly impacted European SMEs by making it easier for them to outsource their payroll services.
Pento was founded in 2015 to create technology products which enable small business owners to streamline their financial processes while remaining compliant with regulations. They offer a suite of services like automated tax payment, invoicing, reports & analytics, and an integrated payroll tool designed specifically for small and medium-sized businesses in Europe.
One key benefit Pento offers is its intuitive user interface which allows accountants, entrepreneurs or business owners to focus on what matters: managing their teams’ payroll data easily and securely. It automates all tedious payroll-related activities such as onboarding, vacation tracking, bank transfers only available for companies located in certain countries & currencies, and flexible payment plans adjusted according to their individual needs. This saves time while ensuring compliance requirements are met – from calculating taxes based on local laws – automatically submitting reports & forms & remaining up-to date on the latest legal developments impacting payroll across Europe. Compiling all this data into one user-friendly platform simplifies things when you’re trying keep everything up-to-date & accurate!
Without doubt, Pento has made life much easier for European SMEs when outsourcing their payroll activities by offering a unique solution that simplifies business operations leading to smart strategies & efficient results. Its simplicity combined with its reliable accuracy not only helps SMEs save time but also means additional peace of mind knowing that all laws regarding taxation & working hours have been considered when organising employees’ payments – ensuring everyone gets paid on time. Thanks to Pento even those small businesses which haven’t had easy access previously can now benefit from efficient outsourcing solutions– helping them focus more easily on developing other aspects of their business!
Challenges faced by SMEs
To remain compliant while meeting their budgetary goals, small and medium-sized enterprises (SMEs) in Europe must navigate varying regulations, taxation systems, and payroll requirements. It is no wonder payroll outsourcing has become increasingly popular among SMEs — it eliminates many cross-border complications, simplifies payroll processing and reduces administrative overhead.
However, with so many regulations across different European countries, it can be difficult for SMEs to find the right resource for their payroll needs. In addition, SMEs must be aware of the complexities of outsourcing part or all of their payroll tasks, such as dealing with different tax regimes and legacy IT systems. To make matters more challenging, miscommunication between an SME’s internal staff and outsourcing partner can lead to costly mistakes or delays.
Pento’s unique approach to European payroll solutions helps mitigate these challenges by providing an automated platform where SMEs can outsource most payroll tasks without worrying about compliance or delays. Pento streamlines processes like timesheets submission, deductions calculations, employee onboarding, benefit management and more using patent-pending technology. The company also offers seamless integration into accounting programs like Sage 50 or Quickbooks Online so that SMEs can easily streamline integrating payroll operations into existing systems without disruption.
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