Having a payroll software solution that is integrated with other types of HR management software can be highly beneficial to most companies, even across a range of industries. Having a patchwork of different software solutions can create confusion, cause payroll errors, and result in headaches and sometimes compliance issues.
An HR payroll solution that is integrated with other core HR functionality can help to eliminate these problems, increasing the overall efficiency of the company and saving managers’ and HR professionals’ valuable time for more lucrative endeavors.
Cost Savings for Unifying
Automating all processes instead of retaining manual systems for some functions can save companies money on rental space, paper supplies, and labor dollars. When software used for automating processes is bundled into a comprehensive solution, providers generally offer discounts.
Receiving software service for multiple processes from multiple vendors means maintaining several contracts and recurring monthly fees, which often add up to higher expenditures than a single unified solution.
Increase Efficiency to Boost Revenues
Changing employee information, job descriptions, and other HR data can be inconvenient when there are multiple software systems used. The process often requires the re-keying of data and may require contacting several vendors to pinpoint and correct errors, which can take employees’ time away from tasks that produce revenue.
When payroll solutions are integrated with all HR systems, changes update throughout all systems automatically, so efficiency is increased throughout the company.
Better Manages HR Data throughout Employee Life Cycle
Keeping all employee information accurate and consistent throughout an employee’s life cycle can be tough when there are different systems used for onboarding, payroll, scheduling, benefits, and retirement information. Using a system that singlehandedly updates all core HR data prevents errors that may occur as the employee’s information changes or moves through different phases.
Simplified Scheduling and Staffing
An integrated payroll software solution helps managers to view all relevant information when working on schedules. Unified solutions help managers to see where staffing levels are inconsistent with productivity needs, which employees are qualified to cover shifts, and how overtime may factor into scheduling needs.
Instead of having to move through multiple interfaces to obtain relevant information, managers can simply configure the system to provide notifications based on given rules and can then schedule accordingly.
Compliance Risks Greatly Reduced
Laws pertaining to healthcare and other employment issues are changing frequently and companies must provide reporting to ensure compliance with new or modified laws. Failure to provide accurate reporting or to complete steps necessary to comply with laws can warrant stiff penalties.
An integrated HR payroll solution can help companies to stay on top of compliance requirements by providing notifications regarding changes and creating needed reports at the push of a button.
Better Internal Data Security
Multiple login usernames and passwords can be difficult to remember and use, so managers and employees are much more likely to use generic passwords and other “shortcuts” to save time. This opens up the system to data breach risks that can compromise sensitive employee information.
Maintaining an integrated HR solution allows users to access the system with a single sign-on, making it easier to preserve security and identify who has access to what information.
Using an integrated payroll software solution is not only easier, it may save time and money while improving security and even scheduling capabilities. More streamlined solutions are where HR is headed, so consider these benefits when reviewing options for HR process improvements.
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