Payroll technology and artificial intelligence have both advanced over the last several years, and as AI technology continues to improve, companies are looking for ways to connect new technology with their existing software. The question is, how can payroll and AI work together to simplify daily operations?
As companies grow, the old way of doing business by using excel to manage payroll and HR is not feasible (or compliant) so cloud-based payroll with integrated HR will become the standard practice. AI can be used to identify and correct errors based on historic pay information, can provide faster access to compensation, and automate processes like reconciliations and other post-payroll activities. AI can also use facial recognition to allow employees to clock in and out, increase employee engagement with the use of real-time surveys, and more.
Mobile use continues to increase, making new technology more adoptable by the entire workforce including voice and interactive features. Employees can request payroll data using their mobile devices, login to self-service portals, and help companies increase productivity by ensuring pay-related issues are addressed immediately.
Payroll and AI can work together to produce better analytics, and provide data to help payroll and HR leaders make decisions based on real-time information. Payescape uses cloud-based technology with customised reporting so you have real-time access to your payroll. You can easily spot trends, correct any errors, and reduce inefficiencies with integrated HR solutions as well. Our mobile access allows your team to manage payroll and HR functions from any device, reducing time spent on manual entry and redundant processes.
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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.