Most people would agree that the key to a long and happy relationship is based on trust, built on open communication. Sometimes it’s just that simple. But what can businesses learn from this and how can it be applied to their current payroll software and integration capabilities?
Organisations typically have a number of systems in place when it comes to their payroll, human resources (HR) and finance landscape. However, if these systems don’t have the capability to speak to each other, then you’re leaving yourself open to a number of issues such as the effort associated with manual data entry, which subsequently can be subject to human error as well as the cost associated with non-compliance when errors are present – and that’s to name just a few!
If you’re currently considering global payroll technology for your operations or assessing your current vendor, it pays to ask questions about integration capability. Having deep integration capability becomes even more valuable for multinational organisations with further plans of expansion and allows you to get processes in place from the beginning that will support your business growth trajectories. Being able to consolidate information from one central point via systems integration can be a game changer. And here’s why:
Reduction in manual effort
We all know some level of administration is required in every organisational function, but it’s not always the best use of your people’s time. When your global payroll technology integrates with other systems, time spent keying information from one system to another is significantly reduced or removed altogether when there is the seamless flow of data. This will of course reduce the likelihood of errors, but it also has the added advantage of letting your people focus on other tasks. If they can get time back from administrative work, their attention can be directed to more valueable work such as trend analysis and identifying improvements.
Data and reporting accuracy supporting business decisions
With data seamlessly flowing from one system to another, you can be confident in your reporting and analytics accuracy. This provides a powerful tool upon which to base business decisions that can positively impact business goals and allow you to react quickly to anything that may not be going according to plan. Imagine having accurate reporting and real-time analytics available at the click of a button and ready for review within seconds, rather than waiting hours, days or, in some case, weeks, for information to be gathered from various systems, cross-referenced and consolidated.
Increase employee engagement through reduction in error
When payroll is integrated with your HR and/or finance systems, the instances of employees being paid incorrectly is significantly reduced. For employees, being paid correctly is the first step on the ladder towards employee satisfaction and ultimately will assist with employee engagement. If employees know they’re going to be paid correctly, they build trust with that important process and can focus their time on the tasks at hand. This also means HR and Payroll are not dealing with queries from employees surrounding their pay and can also focus on other aspects of their work. A win-win situation!
Compliance made easy
Having a global payroll solution that allows for integration means your data accuracy is improved which makes it so much easier to stay compliant. The most sensitive of employee information can be updated securely in one system and does not need to be shared via e-mail or downloaded to spreadsheets for re-upload. Your mind can be put at ease especially when it comes to GDPR regulations. Ultimately this means organisations can avoid unnecessary fines and are confident in their data security and compliance.
Having a global payroll technology platform that has deep integration capability sets you up for success from the offset and provides a solid foundation for process improvement which can scale as your business grows.
If you’d like to learn more about the impressive integration capability of the Immedis platform, get in touch with our knowledgeable team today.