payroll software

How Technology is Changing HR and Payroll Processing

Technology has affected almost all the industries and shaped practices to enhance efficiency in those, and HRIS Systems and payroll processes aren’t exempt from this phenomenon. Payroll software handling payroll services and HRIS have relieved us of the monotony of excel sheets to entail on us the joy of more streamlined processes.  To give you a funny analogy, technology has made the process of HR and payroll as simple as yelling out, “Alexa, process my payroll”, and letting the systems take over our boring admin tasks.

Today technology has made an end-to-end payroll software combining payroll services and HRIS possible. This seamless integration of critically connected yet separate disciplines of Human resource management and payroll is proving to be beneficial for the biggest of multinational corporations and the smallest of businesses. An integrated HR management system lets both HR and payroll teams access all of the same information by using the same database. Small businesses in particular are prolifically utilizing these solutions integrating the best HR capabilities with expert payroll management.

Payroll management and HRIS systems touch every aspect of small businesses from the positive employee experience and job satisfaction to the financial stability of the company. The only catch here is finding the best payroll software for small businesses. A good payroll software seamlessly integrates the HRIS systems and Payroll processes and takes care of the minutest of details to save you the embarrassment of referring to your high school mathematics book.

A complete payroll software for small businesses hosting payroll services and HR processes has had a positive and affirmative influence on the way organizations and their HR and payroll departments are now able to function by using the similar database.

Although there are several ways technology is changing HR and Payroll processing for betterment, here we present a few of them.

Getting Rid of Double Data Entry across HR and Payroll

Technology has made it possible for small businesses as well as large corporations to get rid of excessive and superfluous paperwork and consequent double data entry. A Good payroll software combining payroll services and HRIS systems makes the process of information exchange across HR and Payroll smoother.

The data collected by HR teams pertaining to the employees is quite often the same information required by the payroll department and vice versa. Technology makes it possible for the organizations to share data and information across systems, eliminating the need for double data entry. Technology reduces the amount of work for HR and Payroll, as well as the margin of error.

Providing Easy Access to Data Facilitating Comprehensive Reports

There is a constant accumulation of data in organizations with every passing day. Because of this, it becomes really difficult for these organizations to collect and collate relevant data together to derive actionable conclusions when the HRIS systems are not integrated with payroll. Technology comes to your rescue here by making payroll and the human resource information readily available via a single interface with the help of an integrated payroll software.

An integrated payroll software that allows both HR and payroll teams to access all of the same information by using the same database helps both the teams pull relevant reports for their specific purposes.  This helps HR and payroll teams save time while accessing employee information on demand and enables management to make well-informed decisions.

Minimizing Risks, Increases Accuracy and Eliminating Security Threats

While curtailing the overall paperwork within the company, an integrated payroll software is automatically updated, including the employee attendance record, overtime, and taxes. This is due to the reason that HR and the payroll teams share the same database consisting of employee information. This increases accuracy in the whole system, cuts down the amount of work for employees to a great extent, and reduces the margin of error that levies non-compliance.

A good payroll solution that combines the best HRIS systems with expert payroll management also helps to improve data security. This is important as the payroll and HR systems contain highly sensitive information about an organization and its employees. Technology, by integrating these two systems into a secure payroll system, you can reduce the chance of contravening with your data.

Technology enables HR and payroll to perform in one system of record using a complete payroll software, bringing all of your people’s data at your disposal. The insights you can derive out of this data provides you the required confidence to make the best of decisions for your organization and your people. 

Check Also

Get a Mortgage When You're Self-Employed

How to Get a Mortgage When You’re Self-Employed

In theory, applying for a loan as a self-employed person is no different than applying …