Cut costs and save time on your MIBCO admin with Online Returns
Often, related but non-core activities in the motor industry interfere with the smooth running of a business, such as the employer contributions paperwork that needs to be completed and submitted to the Motor Industry Bargaining Council (MIBCO). Not only is the administration involved in making MIBCO returns costly, you also face financial penalties if you fall behind.
TransUnion, in partnership with MIBCO, has developed a solution that assists dealers in reducing their MIBCO admin costs by up to 80% through managing their returns via the internet. In two years, the Online Returns subscriber base has grown from zero to 2 476 employers, together processing returns for about 70 000 employees every month.
Online Submission: Completed returns submitted to MIBCO electronically
Online Forecasts: Forecasts are viewed on the website and regenerated after every return
Online Reconciliations: All necessary reconciliations are performed online
Value Calculator: The system calculates the values of reconciliations automatically
Data Capturing: After payment, returns are committed to the MIBCO database
Profitability: Reduces employers' returns admin by as much as 80%
Security: Registration for a secure logon password and username
Efficiency: Eliminates paper forecasts
Automation: Provides automatic rate updates
Flexibility: Payment methods can be tailored to suit individual needs
Convenience: Employers controlling multi-branches can work from one location
Integrity of Information: Data capturing errors are eliminated because employers control the correctness and integrity of their records on the MIBCO system