As the new year approaches, it is a great time to review your payroll and HR admin processes to see what can be streamlined and improved. Many companies struggle with data errors, duplicative processes, and compliance issues that arise due to accuracy and security of the data. By integrating your payroll and HR systems you can solve multiple issues and reduce compliance risk.
Payroll and HR teams use the same employee data to manage operations, so oftentimes there are overlapping processes between teams. Personal information like name, employee number, hourly or monthly salary, and pension are all metrics used by both payroll and HR, but managing changes or updates to this data can be very time-consuming for employees across both teams. If your payroll and HR systems are integrated, one person can enter data one time, and if there are changes, both systems are updated. You can save resources for both payroll and HR teams, and significantly reduce errors that save the company thousands each year.
Once you have integrated payroll and HR systems, your teams will immediately see the effect on overall compliance. Data that was once stored in 2 different systems is now aggregated with one point of entry that can be tracked. If an employee makes a change to personal or bank details, you can see when that change was made, how it affected both payroll and HR, and easily spot potential mistakes before they affect employee payroll, leave or benefits calculations. Integration also allows you to create reporting, schedule audits each year, and easily pull data from both systems to ensure accuracy and compliance.
Resources for Employees
When you have integrated systems, payroll and HR teams spend less time managing data allowing them to focus on more important company initiatives. Payroll can spend less time managing errors and more time evaluating trends, identifying cost saving measures, and improving compliance. HR can be more strategic and spend time developing employee talent instead of wasting valuable time managing employee data. Integration provides better insight into the employees and the company, allowing payroll and HR teams to make decisions based on trends and have real-time information to make recommendations for improvements.
Integration of Payroll and HR systems provides many benefits including increased compliance, better workflow, reduction of errors, and resource allocation. Talk to us about integrating your payroll and HR in 2022. Our easy-to-use, integrated payroll and HR systems can provide data security, improved compliance, customised reporting, and much more! Click here to learn more
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