The TruPay Journal - News, Articles & Reports

5 Payroll Problems That Legacy Systems Face at Year's End

Posted on Tue, Nov 06, 2018 @ 08:00 AM

For most organizations, payroll challenges emerge at year-end, when the pressure is on. Problems common to legacy payroll systems such as reporting, balancing efforts, special file loads, reconciliations, unique file types, and more create time-consuming, error-prone bottlenecks.

Managers start to think about how processing could be simplified and streamlined and start to shape plans to improve payroll. But too often these proposed changes get swept aside by the regular work of paycheck processing and another year goes by without implementing a solution that could improve payroll processing and contribute to the growing demands of the organization.

Every company wants to receive the perfect paycheck on every payroll run. Every employee in the company expects to receive fair and accurate compensation for work performed. But how can you achieve the perfect paycheck and solve year-end payroll problems if your existing payroll technology has not been updated for several years? Some of the challenges facing companies with legacy payroll systems include:

• Payroll is not integrated effectively, efficiently, and seamlessly with other applications,
like HR, time and attendance, and finance

• The system lacks the latest technology to support automatic regulatory updates, possibly increasing risk

• You can’t take advantage of self-service to engage and empower employees — and
increase productivity

• Payroll process workflows aren’t streamlined to increase efficiencies

• Without user-friendly reporting, managers aren’t empowered to make data-driven
decisions, and staff is burdened to create needed reports

But simply knowing what’s missing in your payroll system will not be enough to convince the decision makers in your organization that it’s time to invest in change. To get the attention of leadership and IT and persuade them to review and approve your business proposal, you’ll need to answer this question:

“How will a payroll system assist the organization in reaching its critical business objectives?”

Organizations are turning to today’s best-of-breed human capital management (HCM) technology to better manage the expectations and demands placed on them and to achieve greater business results. By investing in an HCM solution as an integral part of their workforce management strategy, businesses can align their payroll solution with key business strategies and goals. Employees benefit from the tools and processes they need to both manage day-to-day activities and undertake company-driven projects that can add value and improve bottom-line results for the organization.

Making a case for change is difficult. Executives have many competing projects to evaluate and finite resources available to implement them. So how do you get the case for payroll change on your executives’ radar and acquire their critical buy-in? The answer is to prepare a business case that shows the financial benefits as well as the business problems that a unified payroll platform will help your organization solve. You will need to to gather the insight, evidence, and support you’ll need to present a persuasive proposal for change that will successfully capture the attention of executive decision makers.

Top Payroll Mistakes

   

Subscribe to Our Newsletter

Top 10 Posts