Here’s what you’ll learn about Transforming to a Strategic Payroll Process:
Savvy business and thought leaders have begun to realise that payroll processing plays a greater role in achieving strategic business objectives than just providing transactional accuracy. Integrating and streamlining strategic payroll processes saves money, empowers employees and identifies areas where efficiencies of scale can be realised. Poorly designed systems, however, can generate an astonishing array of problems that include mistakes when reporting and filing taxes, difficulties in dealing with enhanced payment options like direct deposit, inefficient scheduling, weak human capital management (HCM) and poor management of human resources. No matter how advanced your HCM software might be, it won’t address your company’s strategic objectives unless the software links to various business processes through software integrations in your company’s API layer.
Payroll managers want to take more active roles in formulating policy, implementing controls and providing responsive world class service, and HCM software can empower payroll departments to contribute to business operations in extraordinary ways through strategic payroll applications.