Is outdated payroll software harming your business?

Payroll is often regarded as a back-office function, providing a service that is simply expected to be there.

A repercussion of this complacency is that the vast majority of large organisations utilise a software they introduced a decade ago.

Even worse, some organisations continue to pay hundreds of employees each month while relying on spreadsheets.

Why is outdated payroll software and processes an issue?

Organisations are unknowingly damaging their payroll department and forward planning capabilities by using archaic software and processes.

The following are just a few ways you could be hindered:

Human error: Payroll processes that require human intervention will inevitably be susceptible to human error. When managing deductions, pensions and data input for an entire workforce through spreadsheets or outdated software, mistakes are bound to be made.

Missing out on benefits: One of the greatest benefits of a modern payroll solution is the streamlined reporting functionality that supports strategic business decisions. Attempting to run reports and analyse data that is stored in an outdated platform or in a spreadsheet simply isn’t possible.

Wasted time: Managing payroll for a vast number of employees and supporting fluctuations in your workforce is an enormously time-consuming task, especially if you’re unable to automate processes.

Ensuring compliance: Payroll is an ever-changing beast, with legislation constantly being updated and introduced, for example, RTI, AE and Holiday Pay are all recent changes that shook up processes. Ensuring compliance with legislation becomes significantly harder when your processes are outdated.

Meeting your workforce’s needs: Research from Inc. found that 75% of the workforce will be millennials by 2025. Statistics such as this emphasise the need for technological advancements within the workplace with payroll being no exception. As the workforce becomes increasingly digital, features such as digital payslips are no longer a luxury but a necessity that traditional payroll software doesn’t provide.

Welcome the future and upgrade your payroll software

IRIS Payroll Professional provides organisations with a best-of-breed payroll solution that eradicates time-consuming tasks and provides the flexibility required to meet your complex requirements.

Key features include:

• Facilitation of specialist requirements
• Easy data entry
• Straightforward reporting
• Digital payslip distribution
• HMRC recognised

For more information on how IRIS Payroll Professional can revolutionise your payroll department, click here.

Stephanie Coward

Managing Director, HCM

Stephanie Coward is Managing Director for HCM at IRIS, where she leads the strategy, innovation and growth of the organisation’s HR and payroll portfolio. She is responsible for positioning IRIS as a trusted partner to HR professionals and ensuring its solutions support the evolving needs of modern workforces.

With more than 25 years’ experience in the technology sector, Stephanie brings deep commercial and operational expertise, with a passion for improving the employee experience through technology.

Stephanie is committed to advancing IRIS’ HCM offering and helping organisations build more resilient, empowered workforces.