The HRMS industry is evolving and undergoing a lot of innovation. The corporate structures of variably-sized businesses often include payroll and human resources divisions separately. However, these two disciplines are critically connected and companies are deciding to integrate these two functions. They find this move to be of a great advantage, saving money and increasing efficiency while eliminating the duplicity as well as decreasing the chances of errors.
Greater advancements in technology have increased the thrust for HR departments in various corporations. Therefore, the one best way to remove this lumber is by integrating their applications with payroll systems. An integrated HR management system has had a positive and affirmative influence on the way companies and their HR departments are now able to function by using the similar database.
Here are three top benefits of integrating payroll with HR administration-
Purges Double Data Entry
In an organization, a lot of spreadsheets are often involved when exchanging information between the HR department and the payroll. Basically, the data collected by both departments is much of the same workforce information, involving excessive and superfluous paperwork.
On the other hand, data can be easily shared between the systems avoiding double data entry when the payroll system is connected to the HRM system. If the HR updates any information into the system, then automatic updating occurs in the payroll. Therefore, the information can also be seamlessly moved back and forth in the system without requiring the need for double entry of the data. In the long run, it eliminates the tons of work, saves many labor hours and reduces the tendency for errors.
Offers Detailed Reports with an Easier Access to Data
With the increase in day-to-day data in corporations, it has become really difficult to collect relevant data together for deriving specific conclusions when the HR system is not integrated with payroll. But, when payroll and the human resource information are available readily through a single interface, then complied reports can be featured as much more efficacious.
These combined reports provide complete information about the employees’, including their payroll data as well as the compensations packages and other benefits involved. Employees’ can easily access these reports with the help of HR payroll system integration and get suitable replies for their basic questions themselves. Certainly, this boosts employee satisfaction and also decreases the amount of time spent on resolving simple issues by the management and HR department. An integrated interface saves time of the HR staff and managers for accessing employee information on demand and also enables management to make well-informed decisions.
Promotes Workforce Empowerment
When payroll is integrated with HR management system having self-service features, employees’ of the respective company can easily view their payroll information when they require. It enables employees’ to check track record of their historical payroll data, saving precious time of HR professionals and helps in empowering the employees’.
Minimizes Risks, Increases Accuracy and Improves Security
While reducing the overall paperwork within the company, integration of HR payroll system will undergo automatic updating. It will automatically update, managing the records of attendance, overtime, and taxes. This is due to the reason that human resources and the payroll system share the same database consisting of employee information. This reduces the amount of work for employees to a great extent, as well as the margin of error that levies non-compliance.
An integrated HR payroll system platform can also increase the accuracy of your payroll and HR information across platforms. This prevents the pricey errors and saves enough time and money it would take to correct them. Not only this, it helps to improve data security as the payroll and HR systems contain highly-sensitive information about the company and their employees’. Consequently, by integrating these two systems into a secure HR platform, you can reduce the chance of contravening with your data.