Universal compliance tool to help SMEs

J&rgonFreeBenefits has taken Paradigm Partners two years to build and could be offered to distributing partners for a factory-gate price of £2 a member, per month.

Furthermore, the online nature of the system means the implementation timescales could be just four weeks for each scheme, Bee predicts.

Bee has signed up almost 100 IFA businesses to distribute the system, aimed primarily at small and medium-sized companies (SMEs).He also claimed he anticipated150 by Christmas.

“We do not charge our licensee firms for scheme installations, we use our own installation engineers to build the schemes,” Bee told PW. “This is probably unique as the old model in the industry so far has been to charge a combination of per-member fees and installation\build fees.

“That charging shape works for larger firms, but would not have worked for SME firms, particularly those with fewer than 50 employees.”

Much of the past two years involved designing the Standard Harmonised Model, a product to fit all clients. Fully bespoke schemes will not be offered initially, but could be
made available for additional fees.

Bee maintained the standard model will be enough for most of his target market, saying: “Essentially we’ve built it as a series of on-off switches providing provides employers a
choice, but making the factfinding process pretty straightforward for our licensee firms and the build process much more straightforward for us.”
For more information, see: youtu.be/Mbii0TzYpPU.