The payroll discipline is a critical facet of any business operation. It can make or break a business and, as such, technology is designed to help users gain full control over resources and instil efficiency.
However, seasoned professionals focused on Human Capital Management (HCM) and payroll administration say there are probably as many solution providers as there are solutions.
Potential investors in this technology are advised to be cautious about what technology they bring on board and what service provider they partner with.
There are important factors to bear in mind before making a final decision on technology – the two most important being compliance and ease of use.
An effective solution is one that is practical and can be easily managed by both administrators and employees, says James McKerrell, CEO of CRS Technologies.
Hovering cloud
“A single, robust and compliant solution is a must for any business today,” says McKerrell. “Compliance is essential because most of the statutory reporting requires electronic feed.”
The integration of a payroll solution is not ordinarily complicated and the integration of data to-and from a solution is relatively straightforward McKerrell adds.
However, the issue of data integration and application continues to attract attention because of the relevance of the cloud.
The domestic market remains sceptical about the alignment of cloud-based service and solutions within the HR and payroll space. Despite the clear advantages in terms of cost, productivity and control, there remains a substantial level of concern around security and confidentiality.
McKerrell affirms that once this technology is in place and ticks all the criteria in terms of being a robust, reliable solution investment, this technology will ensure that a business remains compliant, can leverage off realtime information and can take advantage of sound business processes to strengthen the ability to compete.
In the evolving and competitive payroll market, vendors continue to add features and functions to solutions in order to differentiate themselves. This can often make the solution cumbersome, he explains.
“It is critical to make a call as soon as possible if the solution is not working for the business. Cut the losses and rather contract with a vendor who will provide the right solution,” McKerrell advises.
