Managing Payroll Compliance
Payroll teams are getting ready for year-end reporting, HMRC filing, and other compliance related tasks. How do you ensure all of your payroll processes are compliant with new regulations and your reporting is accurate?
As compliance regulations and payroll requirements change each year, it can be very difficult for payroll teams to ensure compliance. Using technology to manage employee data can make a huge impact and make sure payroll and reporting is up to date with the latest HMRC requirements. Payroll technology has made many advancements over the last several years, and provides annual updates to HMRC regulations and other compliance requirements (like GDPR in 2018) so your team can ensure they are following the most up to date regulations.
Payroll technology offers employee self-service portals so your employees can make personal updates or bank changes and securely pass that data to your payroll team. Customised reporting is another feature of payroll technology that allows you to view trends in real-time, spot discrepancies, or allow you to make changes based on current data. Reporting also allows your payroll team to identify any instances of fraud or incorrect payroll that could affect your employees.
Using a payroll solution that can integrate with your other company systems and your HR technology saves resources in both your payroll and HR departments as well. As payroll and HR both use the same employee data, using one technology to manage personal information can also ensure data security, accuracy, and provide both teams with reporting. Each year the regulations for payroll and HR get more complex, but an easy way to simplify is by using a payroll technology that works for you and your teams.
To learn more about payroll technology and customised reporting, talk to us! Our CIPP-certified staff helps you ensure compliance, our easy-to-use payroll and HR technology gives your employees access to make personal changes in the self-service portal, and our customised reporting lets you view payroll and HR in real-time. Click here to learn more