The Benefits of Integrating Payroll and HR
With organisations using technology to streamline their payroll and HR processes, complications have arisen from using too many disparate systems to manage employee data. Manual entry leads to errors in the data, multiple teams entering the same employee data into different sources, and compliance issues due to the accuracy and security of the data. So how do you solve the problem? By integrating your technology used to manage company data, you can solve multiple issues and reduce compliance errors.
Manual Data Entry
Payroll and HR use much of the same data to manage your employees. Personal information like name, employee number, hourly or monthly salary, pension, etc. are all metrics used by both payroll and HR, but managing changes of this data can be a full time job for multiple employees. If you have integrated payroll and HR, one person enters the data one time, and if there are changes, both systems are updated with the same information. Not only do you save resources in both payroll and HR teams, but there is a significant reduction in errors that can save the company thousands each year.
Once you have integrated your payroll and HR technology, you can begin to see the effect on your overall compliance. Data that was once housed in 2 separate technologies is now aggregated and there is one point of entry that can be tracked for compliance purposes. When an employee has made a change, you can see when that change was made, how it affected both payroll and HR, and you can easily spot a potential mistake before it has an effect on the employee payroll or benefits calculations. Integration also allows you to provide audits when necessary, and easily pull the data from both systems to ensure accuracy and compliance.
Your payroll and HR teams can spend less time and effort managing data when you have integrated systems, allowing them to focus on more important initiatives. HR can be more strategic and develop employee talent instead of wasting time managing personal changes. Your payroll team can spend less time correcting errors and more time evaluating trends, identifying cost-saving measures, and more. Integration also offers more insight into the company, allowing payroll and HR teams to make decisions based on trends and have real-time information to make recommendations for improvements.
Integration offers a variety of benefits for companies, by reducing errors, improving compliance, and freeing up resources. If you are looking for integrated payroll and HR solutions, we can help. Our payroll and HR technology is easy to use, provides employee self-service portals, customised reporting, and more. Talk to us today to simplify your payroll and HR.