Outsourcing company Parseq plans to double the company’s turnover and hire an extra 150 to 175 employees following a number of new contract wins.
The Rotherham-based company, which counts most of the major banks, British Gas and Virgin Holidays among its clients, said it has ambitious growth plans for its South Yorkshire base.
Chief executive Derwyn Jones said: “Our growth expansion plans for our Hellaby site include expanding the workforce from 250 to 400 to 425 by the end of the year. We’re winning more clients and that will boost Hellaby.”
Parseq processes eight per cent of the UK workforce’s pay packets and it is looking to expand the services it offers.
The group has just signed a new deal, which will be announced in the next few weeks, with a UK telecoms firm to pay their staff.
“We’ve seen an upturn in the market,” said Mr Jones.
“There is more growth in our sector and we’re benefiting from that. We’re a very ambitious organisation. We’re a £35m turnover company and we aim to get to £70m through organic growth and acquisitions. We can double the size of the business. We want to become the market leader.”
The group said that it tends to provide one or two services to a lot of clients, but its goal is to provide a lot more.
Parseq’s services include remittance payments, invoice processing, fines processing, data capture, electronic mail and BACS payments into people’s bank accounts.
“We’re small enough to be flexible and we’re large enough to service big companies,” said Mr Jones.
As well as its Rotherham head office, Parseq has other sites in Glasgow, Brighton and London. It also has two sites in Leeds and York based at clients’ premises.
The group said it had its busiest financial processing day of the year last week, sending out 192,684 payments with a value of £195m on behalf of its clients.
February 26 is known in the payment industry as the most demanding processing day as payments that would normally be spread over two or three days more are squeezed into one day.
Parseq’s divisional managing director Craig Smith said: “Wired Wednesday was certainly busy, to make sure all of our clients’ customers, employees and suppliers were paid we had to process four times the volume and value of our normal weekly payments.
“The team did a fantastic job to make sure we hit all of our service level agreements. It is testament to their ability and our growing client base that we now process eight per cent of the UK’s wages. As a business we process more than £2bn in payments a month.”
The group processes over 75,000 items of correspondence a day as well as £2bn of electronic payments a month.
It makes and receives over 17 million calls a year on the behalf of its clients.