Time for a Payroll and HR Audit?

While payroll and HR teams are busy managing company operations, it can be challenging to stop and take time to audit processes and look for improvements. Sometimes the largest functions like payroll and HR admin are using outdated tools that are not as efficient as they could be or using redundant processes that could be wasting resources. A quick audit of your payroll and HR systems can help identify gaps in technology, duplicate functions across teams, and other ways to improve operations.

The first place to start is by reviewing the technology your teams are using for payroll and HR. Are there manual processes to connect systems? Is the employee data being added to multiple systems? With duplicate processes and manual data entry your teams are at risk for payroll and HR admin errors, but your employee data is also at risk from a security standpoint. The most efficient way to manage employee data is to use integrated cloud-based tools that provides one system of record for the organisation, automated updates when regulations change, and reporting functionality so you can view payroll and HR data in real time. Look for a solution that offers self-service functionality so employees can make changes to personal or bank details, so your teams don’t spend time on data entry.

The second area of opportunity is reporting upgrades. Most payroll and HR teams have to use spreadsheets or manual processes to create reports each month. By the time the reports are created, the data is already a month old! Using integrated, cloud-based technology can provide your teams with custom payroll and HR reporting for monthly and year-end requirements. You can view data in real-time, track costs, spot trends, and manage compliance all in one software.

Although it is difficult to make time for an audit of your solutions every year, it’s an important component of operations. Identifying gaps and ways to improve can reduce time your team spends on data entry and redundant processes and improve overall efficiency in your operations. As your business grows, you need integrated technology, real-time reporting, and compliance solutions. Talk to our team about improving your payroll and HR admin functionality with cloud-based software, customised reporting, and compliance resources.