How will a cloud-based automated payroll system impact my business?
As the world of work changes, so does the desire for greater speed, security, flexibility and financial security, driving people - regardless of the industry they work in, to question about how they work, why they work and how they are paid.
If we assess the efficiencies of payroll processing across different businesses and roles, we need to establish what is important for payroll back office staff, and what their key pain points are. Despite the rise in digital processes and the use of smartphones, there remains some level of resistance from the payroll industry, who are reluctant to adopt online employee portals.
According to KeyPay*, who carried out a survey entitled: UK Payroll Report 2019 “In total, 20% of respondents had no clients on an employee portal, extending almost to a third (31%) taking into account those with only a small proportion of clients using an employee portal.”
By streamlining payroll processes and adopting intuitive cloud-based management technology in your FM or cleaning company can be a two-fold initiative; meaning both the employer and the worker get to realise the benefits. With many systems already under pressure, payroll is a drain on administration and often takes several days to complete.
Providing your employees with a portal, wallet or app that easily shows them things like wage slips, money transfers, PAYE, requests for drawdowns etc. means they are in control and responsible for their financial wellbeing and financial visibility. As a business, you will benefit the rewards that automation brings and will quickly realise the value that cloud-based systems can bring to your company.