Four payroll efficiencies that make a tangible difference to your business
In the past, payroll has had negative connotations associated with it; from “it’s just admin” to simply crunching down the numbers. This mundane outlook has inhibited its potential within many organisations as they haven’t yet realised how positive an impact payroll can have on overall business engagement and strategy.
Here are four reasons why payroll can make a tangible difference to your business:
- Automate and comply: Payroll is time-consuming, complicated and mistakes are expensive. However automating payroll will not only streamline your businesses operations, but also introduce new efficiencies that will transform how your teams engage with payroll and its data. Automation gives your payroll employees the freedom to focus on other activities that are a far better use of their skill sets.
- Standardise and centralise: Whether you’re running a global multinational company or a small business, it’s essential that you streamline and centralise your payroll systems and data. Consolidating your systems will improve the accessibility of your data, which can then be used to drive insights and improvements throughout the business.
- Integrate comprehensively: By integrating payroll throughout all relevant business systems from payroll to HR to admin to data capturing and beyond, will reduce duplication and improve efficiencies while providing visibility into employee data, and ensuring information is always up-to-date.
- Move to the right software platform: A platform that can provide you with automated services, multi-currency capabilities, streamlined integration and standardised processes across the business is going to fundamentally change how your business approaches payroll and its efficiencies. You should look for a solution that suits your unique operating environment and provides you with a proven ecosystem of services and support.
Ultimately, your business can benefit from focusing on the right systems and processes to create efficiencies and optimise operations. As a strategic value-add and a powerful ally in embedding financial stability and security, payroll can transform how you do business. With Sage 300 People and Times 3 Technologies, a Sage implementation partner, you can fully realise the potential of your payroll.