Maximise your payroll efficiency: 3 key trends for the modern payroll bureau
The UK is one of the top five most complex payroll systems in the world, and traditionally the software available to payroll bureaux has not made things any easier. We often hear stories from payroll bureaux around outdated systems that require extensive manual data entry and duplication for each pay run. Clunky desktop-based systems mean that bureaux spend a lot of time updating information for clients and chasing via email - which is not only a time waster but a risk to security and compliance with new regulations such as the GDPR.
“But that’s the way it’s always been done” is no longer a valid excuse. As technology progresses, customers are expecting more and more from products and services, and the same goes for payroll. With the shift to modern, cloud-based payroll systems, bureaux should be expecting more of their payroll software and ensuring that it embraces technology to meet their unique needs. Does your payroll software have the finger on the pulse of these key payroll trends?
Bureaux can use up to 6 systems across processes such as leave, time and attendance, rota and document management before they even start processing pays. This means a lot of switching between systems and limited visibility of what’s going on.
Hours of data input and duplication could be saved by switching to a comprehensive system that manages this end-to-end process from employee, to the pay run; not to mention huge cost savings by reducing several platform subscriptions. Systems with an open API mean that they will also integrate smoothly with accounting software, eliminating the need for those annoying spreadsheets and data dumps.
Employee self service
How much time do you spend answering employee or client queries and emailing documents back and forth? What if you could put the power in the employees’ hands and eliminate these requests? We spend a third of our day on our mobile phone - so it makes sense to use this for work. A solution that empowers employees to manage their own data, request leave and expenses, and view documents such as payslips and P45s - all from their smartphone or an employee portal - allows payroll managers to focus their time on adding value to the business.
You probably get the gist from this blog that unnecessary manual processes are a big no-no for us. Whether it’s things like leave or net to gross calculations, or having to remember to send mandatory employee notifications like pension scheme auto-enrolment - don’t deal with the extra stress. Look for a software that will automate these processes and make your life ten times easier. Why pay for a system when you’re doing all the hard work?
Don’t stick to the status quo
Businesses that embrace new technology are more inclined to retain their existing customer base, as well as create the time savings to grow. Rapid advancements in payroll technology have opened up a great opportunity for businesses to review their existing platform, and identify where there is potential to reduce cost and improve efficiencies.
Get the most out of your system
KeyPay is the first true cloud-based workforce management platform built for the UK bureau market, designed to eliminate the traditional payroll headaches of employee onboarding and self-service, data collection, HMRC and pension compliance. In a single platform, KeyPay automates the flow of data from employees across rotas, timesheets, leave management, and reporting, through to the payroll bureau and back to the business, providing full client visibility of the pay run at all times.