In the era of digital automation, making the switch pays
While emerging digital technologies such as Robotic Process Automation (RPA), Artificial Intelligence (AI) and chatbots etc. are increasingly seeing mass usage across organisations, HR seems slow to adopt them.
Ernest and Young’s (EY) 2017 Global Payroll Survey “How are companies preparing for the payroll of the future?” found only a quarter of survey respondents (26%) were using RPA and 20% AI.
Significantly low given the ability of both to improve process and drive savings across an organisation. In fact, EY found that 65% of HR processes can be automated.
While some might say if it ain’t broke, don’t fix it, there are significant efficiency gains available by moving with the times.
Modern technology saves you time
A common complaint by HR and payroll personnel is that they spend too much time on administrative tasks. It’s said that repetitive tasks can take up as much as 93% of a HR employees time.
This can include: managing timesheets, updating employee information, and ensuring compliance.
As a result, not enough time is allocated to more high-value activities like overseeing personal development, conducting training and managing company culture.
Depending on your company’s needs, the right HR and payroll software can remove manual effort and intervention.
Software like Affinity organises employee information into a central database. Automation of payroll processes eases manual workload and aids in the productivity of HR and payroll professionals.
Integrating technology saves you money
Contrary to the belief that acquiring software can cost a small fortune, it actually equates to savings. Many companies are unaware of how much they spend on their payroll function. Taking into consideration the full cost of your payroll operation, including salaries, training, travel and memberships, the cost per payslip can get quite hefty.
On the other hand, while the integration of software to an organisation’s processes may require some initial cost and effort, the overall long-term savings are significant.
EY’s payroll survey found Robotic Process Automation (RPA) “has the advantage of achieving as much as 65% in cost savings when compared to an offshore-based full-time employee (FTE) in a shared service center.”
Consolidating cloud platforms
In the 2017 Price Waterhouse Coopers (PwC) study, making payroll pay, found that HR and payroll professionals were increasingly learning the advantage of transitioning to one consolidated true cloud payroll platforms that integrate with other internal and external systems.
That’s why Affinity offers a full suite of payroll functionality such as rostering, time sheeting, labour cost management, payroll automation, HCM modules, compliance and workflow.
Our system also facilities important HR functions like remuneration, on-boarding and performance management.
In addition to the savings of time and money outlined above, Affinity also allows for comprehensive report generation, providing intelligence for key staff to make informed decisions.
All on one fully-integrated, cloud-based human resource information system (HRIS).
Single platform technology adds strategic value
Overall the decision to change software solutions must be a strategic one.
Remember, the goal is to remove manual administrative tasks so that more time can be spent on value-adding core business activities. This in turn increases productivity and profits.
Selecting the right payroll and HR software for your organisation thus depends on factors like organisation size, existing payroll and HR teams, your industry and the types of employees (i.e. full-time, casual, etc.).
To find out if Affinity is a right fit for your business, speak with us today.
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Tracy is a corporate escapee with
an obsession for improving payroll compliance and efficiency.
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