As companies begin making plans for 2020, it is a great time to review current operations and what can be improved. Are there old processes not working or creating more work to correct errors? Are teams spending too much time managing employee data and not enough time on new initiatives? Now is the time to make changes and start fresh in the new year.
Payroll is often overlooked, with the old “if it isn’t broken, don’t fix it” attitude. But what isn’t working could hurt the company bottom line in 2020. HMRC is making companies pay for payroll and tax mistakes, and is not keen to hear excuses when things go wrong. They want payroll and tax payments on time, in compliance, and based on the latest regulations. There is no room for error. With potential changes coming due to Brexit, payroll could get more complicated as well. The best way to correct a broken process is to evaluate the current situation and determine what could be improved, what is not working, and what task or process is taking employees too much time to complete each month.
Saving employee resources saves the company budget and allows employees to focus on initiatives that can move the company forward. Payroll is one process to begin evaluating first. Payroll technology has evolved to remove manual data entry from the process – your payroll team can manage compliance, directly file with HMRC, and more with the touch of a button. Reducing the need for spreadsheets, manual corrections for incorrect submissions, and reviewing monthly payroll reports to identify issues or errors. With cloud-based payroll technology and customised reporting, your team can reduce up to 40 hours per month of manual processing!
Getting started on a new system can be daunting, but with Payescape, we make it easy. Our payroll system gives you one platform to manage employee data, file directly with HMRC, and create customised reports each month to spot trends and make changes when needed. Your payroll team can spend less time on manual processes and correcting compliance mistakes. Get your payroll more efficient and ready for 2020 – click here to learn more
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Payescape Limited is authorised by the Financial Conduct Authority under the Payment Services Regulations 2017 (register number 821826) for the provision of payment services.