Why Your Business Needs an All-in-One HR and Payroll System
What is an all-in-one HR and Payroll system?
An all-in-one HR & Payroll system, also known as a HR & Payroll single solution, is a platform that combines all your processes and data across the two departments. It is not based on integration – it is a single data-base and any information uploaded is immediately available for both HR and Payroll.
Employee Experience
Single HR and payroll systems lend to creating a more seamless experience for employees using the platform. The user-interface for both HR and Payroll needs is the same, making user-adoption far simpler than two different looking systems. A single system also lends to a culture of transparency. This doesn’t just benefit HR and Payroll departments, but also all users, as they can see all of their up-to-date information, together.
A single software for HR and payroll can also streamline the end-to-end employee lifecycle. A single software makes it easier to input data and information for new hires as well as update the records of employees leaving an organisation. This can drastically improve internal reputation and credibility for people teams who may have historically struggled against the errors that came out of manual processes, from employee pay to promotions.
HR and Payroll Collaboration
HR and Payroll teams working out of the same system will improve communication between the two departments as workflows and automation take care of mundane, time-consuming admin tasks. This not only relieves the teams of chasing each other over updates or errors, but allows them to operate off the same single source of truth, enabling a united approach to their key activities.
There is also a ripple out effect due to HR and Payroll teams no longer being bogged down with employee queries relating to data transfer errors or out of date information.
This allows your people team to have a greater focus on wider people strategy, focusing on Learning & Development, culture, and ensuring your workplace remains competitive when in comes to retaining top talent. This allows the single payroll software solution to drive ROI not just for HR and Payroll, but also the entire business in terms of productivity, turnover, and engagement.
Take a look at our free download: How to Calculate the ROI of Your HR Software
Robust Reporting
Bringing together HR and payroll data can also improve reporting processes exponentially. With an all-in-one system, any changes put in on HR’s side should automatically flow through to payroll and vice versa. This means your all-in-one platform can be considered a single source of truth.
The benefits of this can echo across the entire business, such as in terms of the repercussions for significant reports, like gender pay gap. The team at Christians Against Poverty spoke to the benefits of implementing a single solution for this task:
“The reporting side of xcd has been really helpful. Things like gender pay gap reporting were taking a huge amount of time before. We wanted to provide better reporting functionality across the whole charity which, without the system in place, was just impossible to do.” – Anna Haldane, Change Management Lead at CAP
Compliance
With regulations and employment law facing rapid updates, staying compliant is a top priority. A single HR and payroll software allows both key functions to face simultaneous updates to ensure compliance, with Payroll approved by HMRC and sensitive data kept secure on a single platform without risky integrations, helping your organisation adhere to GDPR rules and avoid costly penalties or fines.
Additionally, a single cloud solution means everything is on the paperless self-service portal. This eliminates the inherent risks that come with paper-based files or scattered digital documents, bringing business operations swiftly into the digital age.
A Single Source of Truth
With an all-in-one HR and Payroll solution, your entire organisation benefits from a single source of truth. This goes beyond reducing HR and Payroll friction – when two crucial departments share a data and operational bedrock every other department can feel a difference. An organisation’s people are its most valuable asset, and while top-level strategy around culture building workshops or ambitious productivity goals may have their place, ensuring your people are well looked after from the most basic points builds the foundation for success elsewhere.
Ensuring people are paid, correctly and on-time, with their pensions and taxes sorted as they should be. Reporting efficiently on gender-pay gap or the correlation between compensation and talent retention. A single HR and Payroll solution can create measurable, positive impact across your entire business.
The HR team at Landmark had inherited legacy HRIS solutions which included an outsourced payroll solution. There was no integration between the systems, causing the team at Landmark to face cumbersome downloads, data manipulation and the re-upload of Excel spreadsheets across platforms The process not only engulfed up to three weeks out of the month for a team member, but also impacted accuracy.
“The amount of payroll errors each month was significant, because of the systems that had been implemented having such manual processes.” – Henry Horsfall, HR Director at Landmark
With xcd, Landmark has been able to cut these three weeks a month down to just three days, freeing up huge amounts of valuable time within the team and providing employees with seamless pay. Henry Horsfall sums up the impact, stating: “xcd has been transformational for our payroll.”
