Accountants, What Makes Electronic Payslips the Future?
The Chartered Institute of Payroll Professionals have this week begun their annual payslip statistics survey. Are you still using paper payslips?
Every year since 2008, the CIPP have been running their annual payslip statistics survey to look at subjects such as the number and frequency of people being paid, how payslips are distributed, how new legislation affects payroll and more.
The survey closes on August 5th 2016, here are three of the key findings from last years’ survey:
1. Payroll departments are now under increased financial pressure following the roll-out of automatic enrolment, with some businesses spending as much as £35,000 to prepare for their staging date
2. Payroll outsourcing is becoming ever more popular, with the CIPP believing that this is related to the frequency of legislative changes and updates
3. The number of respondents using electronic payslips has increased from 33.9% in 2013-14 to 37.2% in 2014-15
The IRIS Factor
The take-up of businesses now switching over to electronic payslips is to be expected, as many businesses are realising the costs involved in traditional paper payslip distribution can simply be avoided. The average cost to print and post one payslip is approximately £1.75 according to estimates from IRIS, this can be avoiding by switching to an electronic platform.
IRIS OpenPayslips enables you and your clients to publish payslips electronically from within your IRIS payroll software to a protected online payslip portal. IRIS is the only payroll software provider that allows you to deliver your employees' payslips direct to their smartphone, tablet or desktop PC.
Businesses also benefit from the added compliance that electronic payslips bring. Any potential data breach from posting payroll information puts the company at the forefront of liability. With IRIS OpenPayslips, each employee has their own password protected online portal where they access their information, meaning data is more secure than the traditional alternative.
Additionally – IRIS OpenPayslips is completely free for accountants to use to pay their own employees!
Book a free software demonstration of IRIS OpenPayslips to see the many benefits it can bring to both your practice and your clients today by clicking on the blue buttons at the top or bottom of this blog. Additionally, you can take part in the CIPP's survey here.