Are you reviewing your payroll technology? Now is the time to do so!
One of the consistent messages this year from the payroll community has been that they are all working longer hours than usual, and the year has been the most demanding in living memory. This is a major concern with so much discussion around mental wellbeing we need to react to assist these professionals to assist them in managing the increased demands they are facing. Will payroll management software and other technology alleviate some of the pressure?
What are you doing to assist your payroll teams?
With the need for change now greater than ever, payroll service companies should be reviewing all business-critical systems. Payroll systems and payroll management software and tools should fall into this category to ensure that they can deal with the rate of change that is needed for companies to move forward in 2021.
With 2020 proving to be very challenging for payroll teams and the number of payroll queries and changes at an all-time high, systems are needed to support this. The need for a payroll management software and tools to assist them in their day to day activities is greater than ever. The days were emails and spreadsheets could do the job is no longer the case with remote working teams.
Systems that are not cloud based and easily accessible via a browser will not be sustainable in the NEW NORMAL business world. They are inefficient and not providing employees with tools to assist them in their roles, leading to additional employee stress.
There is a huge need for centralised systems that can be used by remote teams as the suggestions are that companies will be far more likely to continue with flexible working arrangements. There needs to be a concerted effort to invest in solution to support this.
What are the Challenges and why do I need to change?
- Out dated technology that is not cloud based
- Managing remote payroll teams, tools for managers to ensure compliance
- Centralised data for home based working
- Review office based processes to reflect new working practices
What are the options available?
- Do nothing as Covid will pass
- Look for a new payroll solution that utilises modern technology
- Look for a payroll management software
- Review business processes
2020′ has been a year of huge change investment in technology we believe is required to deal with this.
Cloud based payroll software is now becoming more readily available providing self service capability for end users. These are available on a subscription basis so there in no large capital outlay to adopt the software.
As always the challenge is migrating from one system to another and this can be a timely exercise. Payroll companies have been looking into ways of doing mass migrations and developing tools to assist with this.
The challenging of moving should not be a barrier to change. The sooner you start the sooner you will become more efficient as an organisation. You can always start off by putting new clients onto a new system. And finally migrate your existing clients across.
Payroll Management Software
Payroll companies have tuned to accountancy practice management solutions to provide them with a system to manage their bureaus. Square peg into round hole springs to mind! That said there doesn’t appear to be much choice to support the payroll market. Does the industry need Payroll Management Systems?
Do these challenges sound familiar?
- Getting the Data from the client to payroll is still an issue that tends to be led by spreadsheet uploads.
- Payroll queryies are big issue at the moment and project management task based tools are being used to track progress.
- Communication generally is by email and shared mail boxes are still used by many, which is difficult to manage.
- Payroll schedules are being created manually and the wall based planners are no longer available for home based staff.
- There is little automation in terms of uploading pensions files etc
Where to start?
The change required is moving at a rapid pace so there is no time like the present. Undertake a review of your processes and technology to address the payroll challenges. Put your payroll service in a good place in 2021.