In the last few years, developments in payroll technology have significantly accelerated how businesses function. Big data, cloud computing and powerful analytical capabilities have allowed us to automate tasks easily, process information faster and respond to business intelligence more accurately. As a result, a growing number of businesses are turning to integrated payroll solutions to minimise the time spent on lower value administrative tasks and allow payroll professionals to focus on strategic activities with greater efficiency.
You may think that what you’re currently using works just fine, but if your existing payroll software is more than a few years old, and has had few or no updates, you could be missing out on significant developments in payroll processing.
Is your business making the best use of payroll technology? Here are three warning signs that you need upgrade your payroll system.
You’re Drowning in Paperwork
Payroll systems that are not integrated might rely on external methods of input to perform certain actions – making seemingly simple tasks more complex than they need to be. Whether it be time logs that have to be imported from another system, or physical leave forms that employees have to fill out.
With modern payroll systems, all common HR, Payroll and Time & Attendance tasks can be accessible from one platform and are fully connected – meaning that data can flow between them to help you work faster and more intelligently.
You’re Constantly Inundated with Administrative Inquiries & Errors
Outdated systems that are no longer supported often present more opportunities to creep in. Tasks that require manual updates are not only time consuming, but can also be potentially stressful for the user. Catching and fixing those errors can waste even more time.
Having integrated payroll software, on the other hand, makes it possible for systems to update each other automatically, in real time.
You’re Not Confident That You’re Compliant with SARS
When tax reporting time rolls around, are you scrambling to get things order? Not complying with tax regulations or labour laws can be costly and damaging to your business. One of the biggest benefits of using current payroll software is that it is quickly updated to reflect changes in employee work rules or SARS tax tables.
Ready to upgrade?
Making the decision to switch your payroll system is a difficult one – but so is struggling with old, obsolete technology. Having an integrated payroll solution could be what your business needs to save time, improve efficiencies, boost profits and facilitate better decision making.
Consider PeopleWare by Accsys. In one platform, PeopleWare simplifies all of your Workforce Management and Human Capital needs. Learn more