Payroll is one of the most time-consuming and error-prone aspects of running a business, and eats up a lot of budget. As companies look to streamline operations, payroll should be the first item on the list for improvements.
There are easy ways to simplify the process, but it can seem overwhelming to take on the prospect of changing the way you manage payroll. Especially if there isn’t a proper structure or process in place, and your data is spread out across multiple spreadsheets and paper.
If you’re thinking about outsourcing your payroll, here are some features to consider:
Cloud-based payroll software is the first step. Using one platform to manage employees allows you to view payroll in real-time from any device. Data is securely managed within the platform, and you can integrate with HR and other company systems to reduce duplicate processes. Using cloud-based software gives your team more flexibility to handle payroll while working from any location, so you don’t have to access an office network to pay employees.
Real-time reporting within the payroll platform is another must-have feature. Without accurate reporting, you can’t manage costs and keep track of payroll. If your team is using excel spreadsheets, manual processes lead to errors and can take months to identify an issue in the process. Your payroll platform should provide a reporting tool that allows you to customise reports for your organisation. You can view payroll in real-time and instantly spot errors or issues.
Direct filing with HMRC is an added bonus. It’s time to stop using manual processes to file with HMRC. Your payroll software should provide direct filing with HMRC so you can ensure compliance, avoid manual errors, and meet deadlines. Direct filing helps you reduce the possibility of fines or penalties for non-compliance.
Service and support built into the solution is a game-changer. When payroll or compliance questions come up, who can you call for help? If you don’t have access to a team of payroll experts, you’re missing out. Look for payroll software that provides a dedicated payroll service team to help with questions related to payroll, general ledger, new compliance regulations, and more.
Your payroll is one of the largest components of operations, so it should run smoothly and easily for your team. When payroll goes wrong, it can lead to costly mistakes.
Our payroll technology and integrated HR admin and time management tools make it easy to manage employees and ensure compliance. Talk to our team today about simplifying your payroll. Request a demo.
Need help to understand what solution is best for your business?
Payescape Limited is authorised by the Financial Conduct Authority under the Payment Services Regulations 2017 (register number 821826) for the provision of payment services.