IRIS Software Group named finalist at the Global Payroll Awards 2024

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Posted: 5th June 2024

IRIS Software Group (IRIS) has been named a finalist in the ‘Payroll Innovation’ category at this year’s Global Payroll Awards. Hosted by the Global Payroll Association, the awards celebrate noteworthy individuals and organisations that exemplify the very best of leadership, teamwork and innovation.

As a Payroll Innovation finalist, IRIS has been recognised for Troncmasters By IRIS, its dedicated tronc service that sets up, processes and distributes tip payments.

A June 2022 UK Parliament Impact Assessment revealed troncs are often improperly managed and tips are distributed unfairly, prompting The Royal Assent’s Employment Act 2023: Allocation of Tips Bill. This bill is slated to go into effect October 2024, increasing tronc-related compliance risks for businesses.

In December 2022, IRIS Senior Manager of Product Katie Linstead recognised an upcoming market need for tronc-compliant technology and services. She began developing Troncmasters after discovering an embryotic technology buried within Dataplan’s solutions — a company recently acquired by IRIS.

As of April 2024, Troncmasters By IRIS serves 360 clients and processes £3.5m of tips every month. With Troncmasters, hospitality tips can be processed via PAYE free of National Insurance Contributions – saving employees an average of £8 per every £100 of tips, and the employer £13.80. So far it has saved employees and employers £8.1m in National Insurance contributions per annum in FY24.

IRIS provides mission-critical software solutions and services to manage core business operations. Its integrated HR and Payroll solutions help customers including Sixco Restaurant Group, Butcombe Brewery and Byron Burgers automate their business processes, so employees feel better connected, engaged and rewarded.

To learn more about IRIS’ powerful payroll solutions, click here.