Engaging temporary workers on behalf of clients is a high-stakes responsibility. End hirers rely on MSPs not only to deliver skills but shield them from risk too. Fast-moving, high-volume workforces can easily put your clients at risk if not managed sufficiently, as visibility can be limited amongst the crowd. This means that details can be miscommunicated, data can go missing, and risks can accumulate and mutate within the blind spots.
Client acquisition and retention relies heavily on your ability to display robust compliance. Oversights within this can have very real effects on your clients, impacting their profitability and industry reputation.
For example, errors within RTW can see your clients hit with a £20,000 fine per illegal worker, their details publicly published as a warning against other businesses, or even a 5-year prison sentence. Needless to say, slipping up within compliance is a sure way to lose and deter clients and risk your business reputation.
Risks Can Multiply Without the Right Tech
Fragmented and dated tech can severely compromise your ability to protect clients. Manually processing data through multiple systems and team members means it is eroded by human error along the way. Such low visibility easily conceals risk, which is often not identified until it’s simply too late.
Transparency in Tech Solutions for Compliance
Transparency is key to success within compliance. And with the right tech, this can easily be achieved.
3 things you should look for in compliance-capable tech:
- Real-time data: with the help of cloud computing, you can share and receive compliance-related updates (e.g., share codes, ID scans or Status Determination Statements) in real time. This not only increases efficiency but means potential risks can be identified with immediate effect.
- Automation: human error is inevitable within manual data entry and can distort key compliance details. With a system which allows you to automate tasks, you can vastly reduce human error and better secure your clients’ compliance.
- Single sign-in: another benefit of cloud computing is the ability to access all data via single sign-in. Fragmented tech stacks create barriers to data and lower visibility. With all details available within a single virtual environment, you can access all necessary information on demand and take immediate action.
Increase Your Value Proposition
Taking on a system encompassing such capabilities (like VMS) can help you market your MSP as trustworthy and competent to prospects; this means you can seriously compete. Compliance isn’t simply a ‘nice to have’ add-on but a means of business survival for your clients.
With a solid tech solution, you can increase your value proposition, showing clients that you’ve been diligent enough to consider the most up-to-date and robust compliance method and beat your competitors.
Compliance is Key—Tech is Vital Tool
Within your managed service, compliance management should be treated as a core function. Incorporating a carefully considered tech solution is a key way to reassure clients that their compliance is a priority. The right tech solution can empower you actively tackle compliance whilst increasing efficiency too. It’s a vital capability that all clients will be on the lookout for, and the right tech tool can make your business stand out from the rest.