The global umbrella market is projected to reach US$ 9.2 billion by 2030, growing at an annual rate of 2% (Source: Rational Stat).
This steady growth reflects the increasing demand for compliant and efficient financial management solutions in the sector.
Umbrella companies operate within complex financial and regulatory frameworks, requiring precision and adaptability to remain compliant. Without the right systems in place, these challenges can lead to financial risks, inefficiencies, and administrative burdens, ultimately impacting overall performance. Implementing robust solutions enables umbrella companies to streamline operations, enhance compliance, and drive sustainable growth.
How Hornbill Supports Umbrella Companies
At Hornbill, we specialize in delivering tailored financial and operational solutions that empower umbrella companies to focus on growth. Our expertise includes:
With our deep expertise in outsourcing services, we enable umbrella companies to reduce complexities, enhance efficiency, and focus on their core business, while we handle the intricacies of financial management.
Services
Key Services:
Manage payroll inbox.
Agency correspondence
Manage Remittances
Process Bulk payment schedules
Create Assignments
Create Timesheets
Raise invoices and email to agencies
Manage Margin reports
Query unidentified payments
Query missing remittances or breakdown
Key Services:
Download bank feeds
Allocate payments to invoices
Posting invoices
Tally the payments file with the bank file
Process paid invoices
Generate BACS file
Generating & Emailing Payslips
RTI-EPS & FPS submission
Process Holiday pay
Pension
Process SSP/SMP Payments
Assign Court Orders
Processing court order payments
Manage Pension refunds
Update P45/Starter Checklist
Pension Auto-Enrolment
Pension Opt-out notifications
Pension contribution and Submission
Process PO notifications
Key Services:
Contractor Email correspondence
Contractor Phone support
Introduction to Umbrella Company & services
Illustration to contractors
On boarding and Registration
Chasing documents for setup
Reviewing RTW and other documents
Getting employment contract signed
Email a welcome pack and assign to support team
Update agency regarding contractor set up and email company documents
Key Services:
Welcome Call
First payslip and Tax code queries
Contractor Email correspondence
Contractor Phone support
Attend to P45 requests
Attend P60 requests
Holiday pay requests
Income statement requests
Employment Reference Request
SSP/SMP requests
Update contractor details (NI number/address) post sign up
Synchronize Information across all portals - NEST, Payroll, CRM (if Needed)
Create New agencies on the MDA
Manage agency contracts
Update regarding PO notifications
Update regarding Court order Deductions
Liaise with agency for payments updates
Portal Support
