7 reasons to grow your payroll bureau in the cloud
I think it’s safe to say we are all familiar enough with ‘the cloud’ now to no longer mistake it for the white and fluffy kind. Whether we realise or not, we are in the cloud every day when we update our Facebook status or check our bank balance. Cloud-based systems increase efficiencies, eliminate manual and time-consuming work and reduce costs, along with many other advantages, which is why it’s important to incorporate these into the processes that are vital to running a business - like payroll and accounting.
Traditional payroll systems require a lot of manual efforts from bureaux in order to process a pay run. Bureaux should no longer just ‘settle’ for the norm and recognise the benefits of completely embracing the cloud.
1. Access and control
Do you find yourself responding to a lot of client emails requesting payslips or to change bank details, and sending even more emails chasing employee data each month? Working in the cloud has the potential to allow employees, employers and bureau businesses alike access to payroll data and applications wherever they are in the world. Businesses should be taking advantage of a true cloud payroll platform that allows employees to access and maintain their data easily and in their own time, whether it’s from a laptop or on a mobile app. This shifts the workload from the bureau back to the individual employee and employer thereby reducing the administrative burden placed on the bureau.
2. Real time updates and backups
Traditional desktop payroll softwares require installation meaning that any updates have to be separately installed - a lengthy and annoying process and limiting the ability to streamline across the bureau. By steering towards a cloud-based software, updates and fixes can be made in real time, meaning no interruptions to work. What’s more, everything is stored in the cloud, so there’s no risk of data loss and no need for annoying manual back ups.
3. Improved transparency
Cloud capabilities allow easy access to data across the bureau, meaning improved transparency and insights. Using a cloud payroll software gives managers the opportunity to access employee data such as unavailability, timesheets entered and leave requests, enhancing visibility across multiple locations and providing real time insights into operating costs. Less time will be spent chasing clients, meaning more time to analyse what’s happening in the organisation and adding value.
4. Security and compliance
With the introduction of new legislations such as the GDPR, payroll software has to keep up with technology in order to comply with regulations - and keep it as simple as possible in the process. Using cloud payroll, there is opportunity for employees to access necessary information stored on them as per their rights, in a secure portal. What’s more, a true cloud-based platform allows extra security for both storage and transferring of data in relation to documents such as payslips, employee record keeping and payment summaries even when the employee leaves the business.
5. Easy integration with accounting platforms
Payroll platforms designed in the cloud allow for an open API, and the ability to integrate with accounting software already in use. This gives bureaux the opportunity to remove a lot of manual input and double handling of payroll data when inputting into their accounting platforms. Imagine completely eliminating the need for those pesky excel spreadsheets using the power of the cloud!
6. Do more with less
A comprehensive cloud payroll system could reduce the number of systems required to process a pay run, as well as time spent. Cloud payroll accounting software can simplify processes and reduce manual effort, automating things like payments to employees, HMRC (or government agencies); and compliance with employer reporting regulations. Automating these processes could allow bureaux to handle the requirements of hundreds of clients at the same time - giving more time to focus on the pay run rather than the frustrating day-to-day processes.
7. Scale it with your business
If you expect your business to expand, traditional desktop software will only take so much data until you have to invest in a new server to cope with this growth. A cloud platform has no limits to business growth, is flexible to business needs and can accomodate for any number of staff - whether it’s 5 or 5000.
Grow your bureau in the cloud
Just because something has always been done a certain way, doesn’t mean we have to stick to it. Traditional software and processes might ‘work’ for bureaux, but by embracing technology such as the cloud, they will be able to save time and long term costs by shifting the control to the client, automating manual processes and eliminating paperwork and administrative tasks. The sooner bureaux realise the advantages of the cloud, the sooner they can completely transform the way they work and pay - and thrive rather than just survive.
KeyPay is the only true cloud-based payroll provider in the UK that has been specifically designed for the modern payroll bureau. KeyPay is available in the UK, Australia, and now New Zealand.