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Modern payroll systems offer automation, helping a host of end-users – from managers to SMEs and accountants – save time and effort, and reduce errors in the process. But automation in payroll systems offers so much more than convenience to businesses.
Forgetting to update employee information or issue accurate pay reductions are just two examples of easy mistakes that can escalate into costly risks. The potential for error, even when it’s unintentional, can be frustrating to rectify. That’s where payroll automation offers a helping hand to; eliminate risks, reduce manual labour, and save time and effort for high-priority payroll tasks.
Employers, accountants, and other financial professionals will have oversight when processing employee salaries, leave entitlements, compensation, taxes, and employment information. With so much employee data to manage, and stringent regulations that demand this information be collected accurately, it’s up to employers to use modern payroll tools like automation to ensure they can be compliant and efficient.
The following points represent the main areas of your business that can benefit from an automated payroll solution.
From basic tax calculations to filing FPSs with HMRC (HM Revenue & Customs) and collecting new or leaving employee data, any financial professionals handling this information need to review it carefully for accuracy. Where tax and regulations are forever changing, this becomes a real challenge.
Automated payroll is celebrated often for making a process more accurate, reducing the risks of costly penalties and errors. Simple mistakes with payroll data, or even breaches of GDPR best practices, can cause a headache for employers who struggle to understand compliance or act on it.
Staffology’s payroll platform, for example, offers an Auto-Pilot feature to finalise payruns, including emailing payslips and filing the FPR with HMRC. As an example of automation, this Auto-Pilot feature can handle manual tasks once the initial data is input, streamlining the experience.
Manually assessing spreadsheets and calculating various payments for every employee can be tiring. Even for SMEs, when the employee headcount is smaller, payment calculation can feel complicated, especially as there will be various types of payments to submit.
Manually calculating wages is a significant monthly commitment for any financial professional. When employment statuses change or, for example, you must issue compensation to an employee, this process risks becoming even more challenging.
Yet, automated payroll platforms can quickly and easily calculate and perform all types of payments, covering both the basics and more complicated functions like overtime, wage deductions, or additional pay (e.g., commissions). Staffology’s platform can even go as granular as calculating wages on different pay frequencies like hourly rates.
Payroll automation can reduce the overall time spent processing employee data, including salaries, taxes, and other financial or employment information. The time efficiency of automating payroll tasks helps employers regain focus to prioritise other areas of their operation. Payroll automation goes beyond simply saving time and employers can unlock efficiencies in other areas.
Where modern payroll solutions, like Staffology Payroll’s intuitive cloud platform, can offer automation, they also allow a business to plug in other applications. These days to simplify workflows, many employers often rely on other applications like timekeeping or accounting software. Various HR functionalities are being automated through applications, helping employers store and centralise employee data more conveniently than a traditional filing unit.
When connected, an automated payroll solution can help an employer visualise how efficiencies can work to simplify how they work. Managing the likes of employee salaries, for example, employers or accountants will quickly discover how routine manual tasks, such as pay runs, can be automated to save time.
As manual tasks become automated, employers no longer have to collect updated or new employee information through exhaustive paper trails. Instead, if an employee’s status changes, for instance, updating their residential address, this information can be input within the payroll system.
Automated payroll platforms allow minor changes to employee data to be updated quickly by making changes directly into the system that stores all employee data. More importantly, you can update information quicker, and this level of flexibility allows a payroll system to store and keep accurate data about employees.
Other tasks you can automate:
When you have payroll centralised on a single, intuitive platform, financial professionals can rest assured that they have all the payroll data they need at their fingertips. Staffology Payroll software integrates with a range of payment providers, allowing users to send funds automatically to:
As an employer collects data, they need to ensure that they use best practices recognised under GDPR, including password protecting files for compliance. Data regulation and other issues are critical to ensuring your operation always remains legally compliant. With the support of our payroll software, you can benefit from enhanced compliance, making it easier than ever to navigate the changing world of legislation that may affect your business.
Payroll automation can unlock greater efficiency and risk reduction for those employers willing to learn more about how it can creatively integrate into their payroll processes.
Staffology’s payroll platform introduces automation to help businesses take advantage of the best benefits of a modern payroll system, including eliminating manual tasks and greater accuracy.