When a company is getting started, the first software usually purchased is for accounting and billing purposes. Once the company starts to grow and the number of employees increases, finance and HR managers start looking into the benefits of payroll software and time and attendance solutions.
As the company grows and more people join, even more technology is onboarded across different departments.
For example, the HR team may be storing data on one system or spreadsheet, and the finance team may be using an entirely different software or spreadsheet, meaning data is siloed.
As a result, many organisations experience data fatigue, as employee information isn’t synchronised across the business, which can negatively influence HCM (Human Capital Management) and other issues including audit compliance, reduced flexibility and company scalability.
This is where integration of payroll, time and attendance and HR software comes in.
The importance of software integration
When you’re looking at purchasing new software for your business, it is worth the extra time and cost on the front end to ensure that the new software integrates with your current systems.
If you are using a bookkeeping system, connecting to your payroll and time and attendance software decreases manual data entry, and helps to ensure accurate employee data and payroll.
If you are considering adding new time management or HR administration systems, choosing software that directly integrates with your accounting and payroll systems is vital to ensure your payroll is accurate.
Integration also allows your HR team to focus on strategic initiatives to drive the company forward, instead of spending time on manual data entry or spreadsheets to manage employees and benefits.
Compliance risk is reduced drastically, with auditable reporting and real-time visibility. You can make quicker decisions when you have access to all company data, and watch out for trends that can impact the business.
There are many platforms on the market, but when selecting payroll, time and attendance, or HR software it is very important to choose an easy-to-use, integrated solution.
Look for solutions that offer web-based functionality so you can access from any mobile device. Payroll and time management tools reduce costly errors, and some solutions have employee self-service to make simple changes
You can save thousands each year and reduce the time your team spends on administration, employee payroll, and time management with web-based integrated tools.
The benefits of integration at a glance
- Improved automation as systems are communicating with each other
- Seamless data sharing through integration
- Greater data accuracy and reduced repetition of records
- Real Time visibility of data as softwares are consistently communicating with each other
- Compliance risk is reduced
- Scalability is easier
- Clear visibility of data and business performance
- Productivity is improved due to task automation and data accuracy
Integration – the future of payroll, time and attendance and HR software
As technology evolves and businesses look to operate on hybrid working models, we’re seeing more companies place emphasis on data integration – especially when it comes to their Human Capital Management processes.
According to Forbes, over 80% of enterprise Business Operations leaders say data integration is critical to ongoing operations.
Additionally, 67% of enterprises are relying on data integration to support analytics and BI platforms today, and 24% are planning to in the next 12 months.
It’s time to start thinking about integration for your software, or risk being left behind.
Speak to one of our advisors today and find out how to revolutionise your HR, time and attendance and payroll processes.
