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25th August 2022

Payroll Challenges to Avoid

Each year there are new legislative changes that impact payroll requirements. Staying ahead of new regulations and ensuring compliance can be difficult for payroll teams. Many companies face payroll challenges due to technology gaps and manual processes that could be avoided with the right tools in place.

1. Payroll Software
Is your team using payroll software that automates changes to payroll regulations each year? If your team is managing payroll with manual spreadsheets or an outdated software, it’s time for an audit of your payroll process to identify where the technology is lacking. Data security is another benefit of using a cloud-based payroll platform to manage employee data. Automating processes also helps ensure compliance, as inconsistencies can be identified and corrected before payroll is processed.

2. Custom Reporting
Another challenge payroll teams encounter when using manual payroll processes is lack of reporting. If your team is using spreadsheets to create payroll reports, there is room for improvement. Automating your payroll reporting allows your team to create custom reports within the software, view payroll costs in real-time, and provide monthly and year-end reporting to maintain compliance with HMRC.

3. Integration
Payroll, HR, and Accounting teams often use different software but house the same data. This creates duplicate processes across the organisation. Look for integrated software to remove any duplicate processes across teams. This will ensure the accuracy of employee data, reduce the need for multiple data entry points, and help teams across the organisation ensure data security.

Payescape has cloud-based payroll and HR software to manage employees on one platform, ensure compliance, and create customised reporting in real time. Our team is CIPP-certified to help with payroll and HR questions, help you ensure compliance with statutory payroll and HR requirements and identify opportunities for improvement in your process. Talk to our team about integrated solutions so you can avoid payroll and compliance challenges in your organisation. Click here to learn more

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