How API is Taking the Pain out of Payroll

Untitled design 2021 12 14T163355.357 | How API is Taking the Pain out of Payroll
By Anthony Wolny | 21st November 2021 | 2 min read

Payroll and payments workflows often cause headaches for employers, accountants and their clients.

The act of calculating payroll has always been separate from the act of settling the payroll; that was true until Application Programming Interfaces (APIs) came along.

Modern API-driven platforms are taking the pain away and delivering new ways of securely managing and automating payroll.

Since there’s no integration required, you can get set up and running quickly, enabling you to start processing payroll straight away.  

In this blog, we’ll show you how.

The weakest link in the chain: the payment file

Traditional payroll is a time-consuming process that carries a heavy administrative burden.

In particular, for accountants and bureaus, there are plenty of manual workflows such as downloads, uploads and file-sharing, that all create client pain points.

It’s a long process even before we consider the time taken to fix file errors, correct value inputs, doublechecking, data duplication and payment rejections.

What’s the weakest link in the chain? Often, it’s the payment file.

The payment files that use outdated technology are what is traditionally used to bridge disparate payroll and banking systems.

Payment files are widely used because they are the only compatible method of exchange with legacy bank accounts.

Introducing APIs, the biggest new trend in payroll technology

Businesses no longer need to rely on their banks to make/receive payments, and they also don’t have to rely on manual, error-prone and slow payment files.

That’s because companies like us are using the same API technology that Google, Netflix and Uber use as standard.

We’ve integrated Modulr’s payments technology into our software to merge payroll and payments into one simple, cost-saving and streamlined process.

Our new offering simultaneously talks to the payments account behind the scenes, creating exact matching values per accounting entry with no errors between the two.

When you’re ready to run payroll, you simply need to approve the payments in your Modulr payment account.

After the payments have been made, we verify that the payments have cleared, displaying them instantly and automatically within the software for seamless and quick reconciliation.

All you need to do is enable your payment account with Modulr within our software to receive seamless API-enabled payroll at the touch of a button.

For more information on the IRIS and Modulr partnership, click here.