Does DEI improve your firm's brand value?

Your brand isn't just a fancy emblem or catchy tagline – it's the entire perception people have of your firm. So why not stand out from the crowd by showing your commitment to social justice? Incorporating DEI into your brand not only sets you apart, but also positions your firm as a reliable and dedicated ally. Let’s explore why DEI could be the missing piece to your branding puzzle.

Why DEI is important for businesses

DEI (diversity, equity and inclusion – more on that here) is taking over the business world, which is crucial, especially in light of events over recent years that have highlighted societal inequalities. By incorporating DEI into your brand identity, you're shouting from the rooftops that you care about more than just making money. You're a company with a heart and soul, committed to making a positive impact on the world.

Attract more talent

Research shows that 74% of millennials believe that an inclusive culture foster more innovation, so a company with strong DEI values attracts the best and brightest talent. We all know that the accounting industry has a diversity problem, but did you know that companies with more diversity are 15% more likely to financially outperform their competitors? By prioritising diversity, you're not only building a team that's more creative and innovative, but you're also showing candidates that you're committed to creating a safe and inclusive space for everyone.

Set your firm apart from competitors

Nowadays, people want to endorse companies prioritising diversity, equity, and inclusion. If you turn a blind eye to DEI and ignore it, you’ll risk coming across as out of touch, and even unfriendly. If your firm is one that prioritises DEI, you'll stand out from firms that don't.

Less talk, more action

How can people get behind what you do? If you claim that diversity is part of your brand, then live by it. Walk your talk – don’t just have it down on paper. Weave your values into everything you do, from website design all the way through to your tax software.

Consumers are smart and can quickly discern whether a company's commitment to DEI is sincere or just a marketing ploy. Identify areas where you can improve – like more inclusive hiring policies, DEI training, or promoting staff equitably for leadership positions.

How do you inspire people to support your cause? If you're all about diversity, show us! Don't just say it, slay it. Embrace your values wholeheartedly, starting with your website design right through to sorting tax returns.

Let's not beat around the bush, customers know when they're being hoodwinked by a fake commitment to equality. Take a good look at yourself and see where you can do better – a more inclusive hiring policy or promoting staff to leadership roles regardless of their background can make a real difference.

DEI isn't optional

To learn more about the importance of branding, Jonathan Stobart and Alex Tory from Bright's marketing management team recently hosted a webinar on how a powerful branding strategy can transform your firm, attracting the right clients and unlock success. To watch it, just click the link below.

Here at Bright, we create software for tax, compliance, practice management and payroll. We’re on a mission to make a happy and efficient working life a reality for accountants through reliable software and amazing support.

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The benefits ESG can offer your firm

Making the planet a better place doesn't involve just going veggie for a day or buying a reusable straw (although every little step does help). If you want to save the planet, you've got to think big picture. ESG (Environmental, Social and Governance) is rapidly becoming standard practice in businesses, with 70% of people willing to cancel their relationship with a brand that doesn’t take sustainability and social initiatives seriously. People want to be part of the solution (not the pollution), so how can you, as their accountant, lead the way? Let’s dive into it.

It helps to differentiate you in the market

While Earth Day is this Saturday, every day is an opportunity to level up your ESG game. How? Well, you're naturally looking for ways to add more value to your services and keep loyal customers coming back, and ESG is a great way to achieve this. If clients can use your services to not only balance their books, but to reduce their carbon footprint too, it gives you that 'eco-edge' in the market. Luckily, your clients have a superhero in their corner – you, their accountant, with all the number-crunching tips and to help them get there.

Set realistic goals for your firm

Think about it – if you implement a plan to reduce your carbon footprint, or work with energy-efficient suppliers to run your firm, couldn’t your clients to do the same? Whether it's switching to e-payslips, installing solar panels, offering staff incentives like a "bike to work" program, or a volunteer day at a local charity – promote the positive impact you're making. This can ripple out to your clients, and spark sustainable ideas for them too.

While this may seem like an unnecessary burden, making these changes now could actually save you money in the long run. The world's becoming more green – especially giving the taxes and schemes in recent years - like the Carbon Tax and home energy upgrade grants.

Above all, report honestly

Lastly, report honestly about your ESG efforts and plans. Here at Bright, our Green Team served up a delicious veggie lunch on Monday the 17th of April, and we did a litter-pickup around the business park of our head office in Duleek. Last July, we also made a donation for 60 native trees to be planted by HomeTree.ie in Co. Clare in Ireland after each member achieved their goal to walk 130km in our 2022 Charity Walk.

We’re on a mission to make a happier, more efficient and sustainable working life a reality for accountants through reliable software and amazing support. We create multi-award-winning payroll software, accounting software, accounts production software, and practice management software. Let’s work together towards a Brighter and greener future!

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Thesaurus Software and AccountancyManager join forces

It has been an exciting six months since Thesaurus Software merged with Relate Software to become Bright Software Group or “Bright”, as we are now known. Things haven’t slowed down since and we are delighted to announce that Bright has now acquired AccountancyManager, the UK’s leading onboarding and practice management software. The cloud-based software slots in nicely with Bright’s payroll, HR, bookkeeping and post-accounting software products. This is an exciting opportunity for the individual brands to exploit our operational synergies and develop the best products to serve payroll bureaus, accountancy firms and SMEs across the UK and Ireland.

Click here to find out more about Bright.

Who are AccountancyManager?

AccountancyManager (AM) is an award-winning practice management software that shares the same ultimate goal as Bright; to improve accountants’ day-to-day activities by automating time-consuming tasks, helping them to achieve a better work/life balance and grow their businesses. Founded in 2017 by James Byrne and Alex Hawke, AccountancyManager quickly grew and today is used by thousands of accountants and bookkeepers across the UK and Ireland.

A Bright future for AccountancyManager

James Byrne, co-founder of AM will continue as a shareholder in the combined group and will remain involved with the business as an advisor to the combined board. Kevin McCallum, CEO of AM, will become Chief Operating Officer of the new, combined group as well as continuing to manage AM, working closely with Bright CEO, Paul Byrne.

Here’s what Kevin McCallum, incoming COO of Bright, has to say about the merger: “AccountancyManager joining Bright makes so much sense for many reasons, but for me, the shared values and customer-centric approach are the most compelling. I’m excited to be joining Paul and the wider Bright team in building out the scope and scale of our business and supporting more and more accountants and their clients.”

By partnering with AccountancyManager and combining products and strengths from both businesses, Bright can provide a greater offering to our customers, with scope and backing for further innovation and development. This is an exciting moment in Bright’s journey to delivering a one-stop solution for businesses and accountancy firms. Together we will aim to provide a best-in-class software suite with a clear value proposition to drive efficiency and reduce errors, all with increased flexibility from working with a cloud offering.

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2021 Christmas Opening Hours

All of the staff here at Thesaurus Software would like to thank you for your valued custom in 2021. We would like to take this opportunity to wish you and your families a Merry Christmas and a prosperous New Year.

Here are our opening hours for the Christmas period:      

To contact our support team, you can call us on 01 8352074, email us at support@thesaurus.ie or complete our online form.

Posted byÁine CourtneyinNews

Budget 2022 - An Employer Payroll Focus

Income Tax

There is no change to tax rates for 2022, the standard rate will remain at 20% and the higher rate at 40%.

• The Standard Rate Cut Off Point (SRCOP) has been increased by €1,500
• The Personal Tax Credit increased by €50 from €1,650 to €1,700
• The Employee Tax Credit increased by €50 from €1,650 to €1,700
• The Earned Income Credit increased by €50 from €1,650 to €1,700

Universal Social Charge (USC)

• Exemption threshold remains at €13,000
• There are no changes to the rates of USC
• The 2% USC rate band has increased by €608, from €20,687 to €21,295

USC Rates & Bands 2022

• €0 – €12,012 @ 0.5%
• €12,013 – €21,295 @ 2%
• €21,296 – €70,044 @ 4.5%
• €70,045 + @ 8%

Medical card holders and individuals aged 70 years and older whose aggregate income does not exceed €60,000 will continue to pay a maximum rate of 2%.

The emergency rate of USC remains at 8%.

Non-PAYE income in excess of €100,000 will continue to be subject to USC at 11%.

Employment Wage Subsidy Scheme

The Employment Wage Subsidy Scheme (EWSS) will continue until the end of April 2022 in a graduated form.

• The current rates will remain for October and November 2021
• Employers availing of EWSS on December 31st 2021 will continue to be eligible until April 30th 2022, assuming they meet the eligibility criteria which will continue to be a 30% reduction in turnover/customer orders in 2021 compared to 2019
• EWSS will close to new employers from January 1st 2022
• For December, January and February a two-rate structure will apply as follows:

 Level of subsidy the employer will receive is per paid employee

• For March and April 2022, a flat rate subsidy of €100 will apply
• The reduced rate of employer’s PRSI will no longer apply for the final two months of the scheme

National Minimum Wage

The National Minimum Wage will increase by 30 cent from €10.20 to €10.50 per hour from January 1st 2022.

Pay Related Social Insurance (PRSI)

The weekly threshold for the higher rate of employer PRSI will increase to €410 from €398, this is in line with the increase in the National Minimum Wage.

Parent’s Leave

Parent’s leave has been increased by two weeks, this brings it up to seven weeks from July 2022.

VAT

The reduced rate of 9% VAT for the tourism and hospitality sector will continue to apply until the end of August 2022.

Social Welfare Payments

There will be a €5 increase in all weekly Social Welfare payments with effect from January 2022. The maximum personal rate of Illness Benefit will be increased to €208 per week. Maternity Benefit, Parent’s Benefit and Paternity Benefit will be increased to €250 per week.

Remote Working

Where an employer does not pay the e-working allowance (€3.20 per day) to an e-worker, employees will be able to claim tax relief on 30% of the cost of vouched expenses for heat, light and broadband in respect of the days worked from home.

Extension of BIK Exemption for Electric Vehicles

The BIK exemption for battery electric vehicles will be extended out to 2025 with a tapering effect on the vehicle value. This measure will take effect from 2023. For BIK purposes, the original market value of an electric vehicle will be reduced by €35,000 for 2023, €24,000 for 2024 and €10,000 for 2025.

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Posted byAudrey MooneyinEmployment UpdateNewsPayroll

BrightPay joins forces with Relate Software to create an accounting and payroll software champion

We are delighted to announce that BrightPay has joined forces with Relate Software, a leader in post-accounting, practice management, and bookkeeping software. The partnership will aim to create a software champion, serving payroll and accounting bureau and SMEs across Ireland and the UK.

Owned by Thesaurus Software, BrightPay is a modern payroll and HR software which takes care of every aspect of running your payroll, from entering employee and payment details to creating payslips and sending real-time payroll submissions. The software has been designed from the ground up to be clear and simple, and yet no compromise has been made on payroll features.

Likewise, Relate is dedicated to building innovative and focused products designed specifically for the accounting profession. Its offering includes Surf products, a cloud native product suite of bookkeeping, post-accounting, and practice management software. Relate is an industry-leader in Ireland and has been building software for over 25 years.

By partnering with Relate and combining products and strengths from both businesses, we can provide a greater offering to our customers, with scope and backing for further innovation and development. This is an exciting moment in BrightPay’s journey to delivering a one stop solution for businesses and accountancy firms. Together we will aim to provide a best-in-class software suite with a clear value proposition to drive efficiency and reduce errors, all with increased flexibility from working with a cloud offering.

For more information, please see the press release and customer FAQs.

Posted byÁine CourtneyinNews

A spotlight on employee-led sustainability efforts

Earlier this year Thesaurus Software moved into our new energy-efficient offices in Duleek, Co. Meath. Employees have formed the 'Green Team', a company-wide committee tasked with identifying and implementing opportunities that can improve the sustainability of our company.

From the start the Green Team have demonstrated their enthusiasm for environmental sustainability and passion for sharing their knowledge. This is highlighted below in a number of projects they’ve undertaken:

Making the Garden Bloom:

While the initial focus was on the new purpose-built offices, the Green Team soon turned their attention to the green spaces outside. Inspired by their Earth Week guest, Dr Emma Reeves, a Senior Ecologist at the Forest, Environmental Research, & Services (FERS), the group was particularly keen to plant native, bee-friendly plants and trees that would help pollinators and further benefit biodiversity. The first planting phase has been completed with the group planning the layout of the garden and planting shrubs, flowers, and trees. In September, the second phase will begin, with the team planting Spring bulbs including hyacinths, tulips, and daffodils.

Single-Use Plastics Awareness Campaign:

On the 3rd of July, the Single-Use Plastics Directive came into effect for all EU member states. In Ireland, this means that certain single-use plastics such as straws and coffee cups have been banned from the Irish market. Supporting this initiative, the Green Team created an awareness campaign highlighting the use of plastic in the beauty industry and introduced a single-use plastics ban in the office. With 10 of the most commonly found single-use plastic items representing 70% of all marine litter, this is an important and useful step all employees can take.

Future projects:

The Green Team’s future plans are focused on tackling pollution and engaging with more employees at Thesaurus Software. In September, the company will take part in a clean-up at a local beach and will also develop a new project highlighting the unsustainable nature of fast fashion and what options are available to address it.

If you’re interested in keeping up to date with Thesaurus Software’s journey, sign up to our sustainability newsletter for future updates.

Posted byÁine CourtneyinCompany NewsNews

Customer Survey 2021 - the results are in!

We value our customers’ feedback and opinions as it allows us to improve and grow our business. We recently conducted an annual survey as it is a powerful indicator of overall success as a company as it captures the entire experience of using Thesaurus Payroll Manager, from the product features to the daily customer support to the live webinars and online documentation.

We are proud of the continued high marks and appreciate the thoughtful feedback from this year’s survey and would like to say a massive thank you to everyone who took part. The survey looked at customer satisfaction, software performance and customer support.

We’ve compiled the results of our latest survey and we wanted to share them with you.

The Results

As the survey was very comprehensive, we’re not going to share the results of each and every question. But we did want to share the main areas of focus and what you, our customers, have said.

• We asked: How satisfied are you with Thesaurus Payroll Manager?
• You said: Thesaurus Payroll Manager achieved a 99.4% customer satisfaction rate, which is fantastic news for everyone on the Thesaurus Software team.
• We asked: How would you rate the following Thesaurus Connect features?
• You said: The most highly rated Thesaurus Connect features included automatic cloud backup (98.9%), online employer dashboard (96.7%) and employee self-service portal & app (98.5%).
• We asked: How satisfied are you with Thesaurus Software's Customer Support?
• You said: The majority of customers rated our telephone support (99%), email support (99.5%), online help documentation (98.5%) and online video tutorials (98.9%) as excellent, very good or good, giving our customer support team an overall satisfaction rate of 99%.
• We asked: How would you rate Thesaurus Software’s handling of COVID-19?
• You said: 99.5% of customers answered that they found our handling of COVID-19 overall to be either excellent, very good or good - in particular, our free online COVID-19 webinars (99.6%), payroll upgrades (99.7%), online help and support (99.5%) and phone and email support (98.9%).

Customer Testimonials

We also received a number of customer testimonials from the survey - all of which will be added to the Thesaurus Software website in due course. Some of our favourite testimonials received include:

“We are a very happy customer; we are a small company but extremely happy with the fantastic efforts of support during a world pandemic. I would consider this reliability when recommending you”.

“Your product is the best wage system for Irish employers since day one. It has made payroll so easy and efficient for employer and employee. It is unbeatable. Your Support people are accessible and always helpful. A wonderful team. Thanks for making my life so easy for more than 25 years”.

“Anytime I have had to phone Thesaurus the staff are so friendly and helpful and know their job so well. It's a complete pleasure to deal with them”.

Get in touch

If you feel that you’re not using the full suite of Thesaurus Connect’s features to its fullest potential, you can book a free 15-minute online Thesaurus Connect demo.

Posted byHolly McHughinNews