I think we would all agree that HR and payroll are two of the most vital functions to any business.
Both have a key role to play in the most important transaction between you and your employees, pay. So we advocate allowing both teams to work from the same hymn sheet, as it were. HR and Payroll systems and data on a single platform, a single database.
Getting to the specifics, what does this mean for your business? Well simply put, it’s cheaper! In fact, integrating your HR and payroll can save up to 40 hours of administration a week by eliminating the need for HR and Payroll teams to enter the same data into different systems.
Furthermore, because it’s in the cloud there is no need to buy expensive equipment or software, as all you need is a computer with an internet connection. This is not the only means of which you will save money; most on premise solutions require that your business pay for any upgrades to the system. Not the cloud.
No, instead all upgrades are made without the need to commit to an hour long download or pay any extra money just so you can access the new features.
Of course, moving HR and Payroll onto a single system is not just about saving money (although this would make the finance department extremely happy), it is so much more than that. It is about making both functions more efficient. For instance, having one database means that the information is not only available, but editable by both HR and Payroll.
If we include self-service as well, this means you no longer have to rely on employees giving you their documents/ changes of circumstances, as they can do it all themselves at a click of a button, while the level of accuracy should be higher, as employees are filling out their own information (I mean, they should know it!).
Cutting out the middle-man means that people are responsible for their own information, and your HR team can focus on other, more important tasks.
Having both your HR and Payroll under one solution also means that regularly requested management reports are at your fingertips. Real time information (RTI) and self-service functionality means that the data feed will always be correct, ensuring the decisions made are based on accurate robust data.
The positives set out here merely scratch the surface of what single-solution HR and payroll can do for your organisation, whether it be in terms of saving time and money or making your business’ processes more streamlined and efficient.
Find out more, book a demo to see how it works.