At the end of every year organisations often take time to look at operations and compliance to see what can be improved or change what is not working. Payroll is one of the biggest costs in a company budget but can be overlooked. As this year draws to a close, it’s time to streamline your payroll process and make it easier for your team to manage in 2022.
Is your team using manual processes, spreadsheets, or email to manage payroll? Identify any manual work your team is doing to handle payroll operations and eliminate that from your process. One of the biggest mistakes companies make processing payroll is using email – it is not in compliance with GDPR and is a nightmare for tracking and reporting.
Another important factor that can be causing compliance mistakes or filing errors is lack of reporting and automated changes to payroll regulations each year. Does your payroll software alert you to new changes and automatically update your payroll? Are you able to track with custom payroll reporting each month? If your software isn’t staying ahead of compliance or payroll changes, your payroll team could be running into issues down the line. If you don’t have access to real-time reporting within your payroll solution you can’t track costs or spot errors.
If your payroll process is manual, it can be difficult to scale as your company grows. Review your software to ensure you have automated updates to regulations, employee self-service portals so employees have direct access to make personal changes to their data and banking information, customised reporting tools within the software so your payroll team has real-time access to payroll data, and a CIPP-certified payroll team to help when questions come up.
Talk to us about streamlining your payroll process in 2022. Our cloud-based payroll software provides real-time updates to payroll regulations, customised reporting, and a dedicated team of CIPD experts to help when questions come up. Click here to get started
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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.