The TruPay Journal - News, Articles & Reports

Improve Efficiency with Payroll Solutions

Posted on Tue, Sep 05, 2017 @ 08:00 AM

Do you need more time?

When it comes to time, there never seems to be enough. Just ask any administrative employee — once you finish processing one payroll cycle another one starts. There’s year-end processing and balancing; quarterly and annual reporting for a variety of federal, state, and local agencies; compliance updates and risk management; employee inquiries — and the list goes on.

As if administrative staff didn’t have enough on their plates, they are increasingly fielding requests from business leaders who want actionable reports and data for better deci -sion-making. As organizations look to data to help drive strategic decisions in pursuit of business goals, how does that impact payroll? What’s needed for payroll to successfully meet these new expectations while still delivering on day-to-day activities? And can they meet expectations with already-lean staff and resources?

payroll solutions

These time constraints are nothing new, but what is new is how administrative staff are tackling the challenge. They are discovering how to strategically leverage today’s best-of-breed human capital management (HCM) technology to better manage the expectations and demands placed on today’s admin teams to achieve greater business results. By investing in an HCM solution as an integral part of their workforce management strategy, businesses can align and create efficiencies within three core areas of payroll — compliance, processes, and data visibility. This will free up time for an already-overburdened admin team to take on company-driven projects that can add value and improve bottom-line results for the organization.

Payroll Today

In a recent Brandon Hall Group survey ranking HR priorities, leveraging HCM as part of an overall workforce management strategy ranked high at 41 percent — second only to regulatory compliance at 51 percent. Since payroll is a key component of an effective human capital management strategy, how can payroll solutions help HR meet its goals and objectives? If your admin team is already understaffed and overburdened, requesting that they find time for high-level projects may be overly ambitious at best, or extremely shortsighted.

Admin teams still using manual processes or disparate systems are faced with an inevitable question: “Isn’t there a better way to use my time?” 

The answer is “yes!” A single-source platform for payroll and time and attendance can impact day-to-day operations and free up time for the admin team to focus on higher-level activities.

The 7 HR & Payroll Hazards Facing Businesses

   

Subscribe to Our Newsletter

Top 10 Posts