We recently signed a deal with a new client, despite not being the cheapest option. So, we thought we’d talk about it.
Our pricing is something we’re often compared on, but rarely something that swings the balance. The value of Codapay’s payroll software goes beyond our pricing plans – and is something prospective buyers are demonstrated during the sales process.
Generally, cost and quality are only loosely related. For example, paying more for a handbag may afford you better, more sustainably sourced materials with ethical production. On the other hand, it may buy you lesser quality – but with the addition of a recognisable logo.
When thinking about software, there are the different components that impact the cost, including:
- Internal team (salary relative to location and skillset)
- Technology (cost of internal maintenance of systems)
- Business overheads
- Client base (the more turnover, the more scope to lower fees)
That being said, let’s dive into our pricing and why it’s not necessarily the cheapest (and why cost is an unreliable way to select technology).
“There are cheaper options than Codapay”
If a vendor can prove that their solution offers the most value, cost shouldn’t be the sole decision maker in your investment.
Think of it like buying a house. The properties within your budget will likely be a similar size and type, but dealbreakers include things like location, privacy, garden size, modernness… you get the idea. Now back to software – comparing a solution on cost alone is risky. That’s not to say that sometimes the cheapest option is also the best option, but ‘best’ should translate to ‘most suitable for my business’.
Our pricing structure is set to remain profitable for us, and as low as possible for you. Our plans are affordable and competitive, with a low upfront cost and a flexible ongoing pay-per-usage model (support included free!).
UK-based team
Our team is the number one cost to our business. Why? Because we’re fully UK-based and we invest in skilled, experienced professionals – which of course comes at a price. Key benefits of our UK-based team include:
- We’re available when you are
- No communication barriers
- All our teams are closely connected and fully understand the system and payroll
- Our support service is monitored for customer satisfaction, with feedback taken on board
Customer service is key when it comes to software – especially when it concerns the vital function of payroll. Our support desk is managed by experienced project managers and seasoned developers who aim to get you a first response in just 20 minutes (Q2 2021 ratings).
We’re well-resourced to ensure 1) Codapay continues to improve with features and patches, 2) ongoing support stays highly responsive and without the faff, and 3) the implementation process is as short as possible, while remaining effective. As such, we never compromise our standards of service to lower our maintenance costs.
Trusted technology
Then there’s technology. We know you don’t want your software to be 10 steps ahead of you – you want it to be easy to use and to do what it does well. We take pride in our trusted tech stack with leading frameworks (from server hosting to cloud platform services) to provide you with a platform that’s secure and seamless. Plus, we take cyber essentials seriously and ensure our systems are always up to date.
Summary
In short, our pricing is based on the cost of maintaining Codapay’s quality – meaning we position our solution as great value for money. Plus, our investment in our team and technology really pay off when it comes to efficiency and satisfaction.
On that note, let’s consider some of Codapay’s time-saving features.
Designed to reduce your billable time
As mentioned, the value of Codapay goes beyond its pricing structures. The platform is developed to save you time – and therefore money – with a whole host of impressive capabilities, including:
- Cloud-based modern technology
- Unrivalled speed – process unlimited payments in seconds
- Large range of pre-built reports
- Bulk processing and automation
- Open pay weeks – reverse and correct errors
- Reliable pre-payroll validation checks
- Real-time record searching
- Clear and easily accessible audit logs
- Pension integration
Our platform is specially designed to be limitless, scaling up with you without any hidden costs. There’s no charge per user or employers/agencies/workers, allowing you to enjoy flexibility without paying a premium. Plus, you can pay workers across different employers/clients all at once.
On top of all that, our product team manages our feature roadmap to ensure our clients benefit from free updates to supercharge efficiency and improve Codapay’s capabilities.
So, how much can I expect to pay?
Our prices are based on the number of payslips processed – whether that be weekly, fortnightly, or monthly. Each time you process a payslip, you’ll be charged a nominal sum. That means you only pay for what you use, offering complete flexibility whether you incur seasonal fluctuations or win/lose business.
When you switch to Codapay, you’ll be quoted a competitive price for all fees associated with onboarding – including software set up, access to an implementation manager, our training resources, and trialling the software.
Some vendors may not charge a setup fee while others may charge a high amount. At Codapay, our low setup costs allow us to cover initial onboarding costs and keep your ongoing monthly subscription as low as possible. Be mindful of all costs associated with a new provider and make sure there are no hidden fees.
Codapay clients never receive unexpected bills as support and updates are all included in the package. You don’t need to worry about upgrading when you expand either, as our scalable system grows with you.
A better way to weigh up your options
Of course, cost is an important factor for any business investment, but value for money is a better way to look at it. By that, we mean the software that is the most impactful for your budget in terms of ease of use, time-saving qualities, and effectiveness.
The best way to assess this is by booking several demos with shortlisted payroll software providers to get a good understanding of their capabilities. While a website is always a good place to start for getting the gist of a solution, you won’t be able to confirm if the marketing stacks up until you see it in action.
On that note (😉), feel free to book a free, no-commitment demo of Codapay to discover why it’s great value for money.
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