Payroll and HR – Should You Integrate the Two?
By integrating your payroll systems with HR, you can free up your accounting department to focus on income management and compliance. Integration also gives your employees greater control and responsibility, while any security risks can be mitigated by professional service firms.
In fact, high standards of service and accountability negate most of the concerns that businesses have with integrating outsourced and in-house systems.
Consider the following benefits when you’re ready to talk to an experienced payroll management company about integrating your HR and payroll.
Paperwork and Administration
There’s an overlap in the information required by HR and payroll about any new employee or changes to existing employees. Entering information online once reduces the amount of paperwork and time spent inducting an employee. It will also reduce the time it takes to alter an employee’s status, provide them with compensation, and remove them from your system.
NES compliance is also made simpler and more efficient when payroll and HR are integrated. With a single point of data entry, there are fewer opportunities to make errors and employees are given a better picture of their obligations and your responsibilities.
Fewer people entering data means fewer opportunities to corrupt the system. Your employees will also be more accountable, helping to reduce the chance of a security breach externally.
With limited access to your critical staff and payroll information, tracking changes and following audit trails will also be easier. This will make periodic reviews of security much easier to analyse.
Accountability and Reporting
Your HR and payroll functions will be more clearly defined, making it easier to outline roles and responsibilities. A reduction in duplication and inconsistent data means less time spent in verifying and cross-checking information.
Management teams can more accurately track performance and productivity and deliver reports that predict demand and growth. Informing your business as early as possible when staffing changes are required can shave a significant cost from your annual earnings.
Melbourne’s Experts for Payroll Software Systems
Integrating your payroll and HR takes careful planning and expertise. For advice on how to integrate your HR department and payroll system, call i3Group, Melbourne’s payroll service providers.
We are an Australian owned and operated company that provides best-in-class services all throughout Victoria. Working alongside you, we will find the perfect payroll and HR solutions for your needs Our solutions are more efficient, more effective and more secure for your business.
To learn more about how we can help you, call us on 1300 725 647 or contact us online.