For businesses navigating the complex world of payroll, IRIS FMP provides a comprehensive global payroll and HR solution. It has earned a strong reputation for helping small to medium-sized enterprises (SMEs) and multinational companies manage their workforce, particularly in handling payroll across multiple countries. Here is an in-depth review of IRIS FMP services, pricing structure, and notable features.
Review of IRIS FMP key services
Global payroll and compliance
IRIS FMP’s core strength lies in managing global payroll across over 135 countries. The service simplifies complex tasks such as managing payments in multiple currencies and navigating local payroll laws, making it ideal for businesses with international operations. Alongside payroll, IRIS FMP offers services like employee benefits, consulting, and compliance to ensure companies meet local regulations.
Outsourced payroll services
IRIS FMP offers fully managed payroll services, ensuring accuracy and efficiency by automating time-consuming tasks. This includes payroll calculations, payslip distribution, and reporting. The platform also handles more technical aspects, such as BACS payments and third-party disbursements, relieving companies from staying up to date with changing payroll legislation.
HR support
Beyond payroll, IRIS FMP provides HR consulting services, helping businesses with everything from drafting employment contracts to employee onboarding. Its employee self-service feature enables staff to manage their own pay, benefits, and time-off requests, improving internal communication and HR transparency.
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Notable features
- Global coverage and multi-currency support – IRIS FMP’s ability to manage payroll across numerous countries, with support for over 127 currencies, is a key differentiator. This is particularly beneficial for companies with a globally dispersed workforce.
- User-friendly dashboard and real-time reporting – The platform offers a comprehensive dashboard for employers, where they can track payroll statuses, review calendars, and monitor deadlines. There are detailed reporting tools available, allowing businesses to drill down into specific payroll details and export data for further analysis.
- Customisable document templates – Templates for various HR functions, including employment offers, performance evaluations, and disciplinary notifications, streamline administrative processes.
Pricing
IRIS FMP offers a transparent pricing structure, starting at £50 + VAT per month. This includes fully managed payroll services, with custom quotes available for businesses with more complex needs. While this pricing is competitive for SMEs, some businesses may require additional tools for tax automation or time tracking, which are not part of the standard package.
Pros and cons
Pros:
- Extensive global payroll capabilities, ideal for multinational companies.
- Fully managed payroll services help reduce administrative burden.
- User-friendly reporting and analysis tools, enhancing operational transparency.
- Competitive pricing, starting from £50 per month.
Cons:
- Some advanced features, such as automated tax filing and time tracking, are not available in the standard package.
- The mobile app, MyIRIS, has received mixed reviews due to difficulties in usability.
Conclusion – IRIS FMP review
IRIS FMP is an excellent option for businesses that need to streamline their global payroll and HR processes. Its fully managed services and global reach make it a particularly strong choice for companies operating across borders.
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However, for businesses looking for a more comprehensive solution with automated tax management and broader third-party integrations, additional research into alternatives may be necessary.
Nonetheless, for those prioritising global payroll accuracy and efficiency, IRIS FMP offers substantial value.
Finally, for domestic UK payroll, see IRIS.
FAQ about IRIS FMP
Yes, IRIS FMP works with businesses ranging from small enterprises to large multinationals. It tailors its services to suit specific business needs, regardless of staff size or industry, ensuring efficient payroll management and compliance.
IRIS FMP is ISO 27001, 9001, and GDPR compliant, ensuring robust data security and privacy standards. The company prioritises safeguarding sensitive payroll information and maintaining regulatory compliance across its global operations.
Yes, IRIS FMP offers benefits consulting, helping businesses manage employee benefits and adhere to local regulatory requirements. This includes guidance on employee perks, healthcare, and pension plans across multiple regions.
IRIS FMP provides setup assistance and training to ensure businesses can smoothly transition to the platform. Each client is assigned a dedicated payroll manager to guide them through the process.
Yes, IRIS FMP provides payroll services in English and supports payroll processing in local languages, ensuring clear communication and compliance in various countries.
IRIS FMP offers limited third-party integrations, primarily focusing on its proprietary tools. Businesses needing extensive software integrations might need to explore custom solutions or consider alternative platforms.
IRIS FMP helps businesses stay compliant with local payroll laws and regulations in over 135 countries. The platform continuously updates to reflect legal changes, ensuring businesses avoid penalties or compliance issues.
Yes, businesses can generate real-time payroll reports, including payroll statements, tax reports, and workforce demographics. These reports can be exported to formats like Excel for further analysis.
IRIS FMP offers customer support via phone and email, though it operates only during specific hours. While support is generally reliable, some users have noted limited availability and slower response times.
Yes, employees can access an intranet to view payslips, manage personal data, request time off, and more. This self-service feature improves communication and efficiency between employees and HR.