10 signs you need to change your payroll software
Payroll software makes payroll quicker and more efficient, keeping painstaking manual processing in the past. Plus, advances in technology are making it increasingly easy to run the once complex task.
Great payroll software can help you save time and money, minimise errors, and bring your company’s technology up to speed. By sticking with legacy options, your operations may be less efficient than they could be.
Read on for 10 signs you need to change your payroll software.
1. It’s difficult to use
You dread running payroll more than you’d care to admit. Your system is clunky and difficult to navigate, with an unintuitive user interface. If you’re often contacting the support team for guidance, it’s time to explore new options. Modern software is designed to be easy to use without compromising functionality, and many providers offer free demos so you can see for yourself.
2. It’s too limited
It does the basics, but that’s it. It has no time-saving features like bulk processing or communication abilities, nor many reporting or customisability options. If you’re an accountant or umbrella company, you can save money and time if your system includes expense inputting. It’s also worth considering your employees’ access to payslips and document uploading, and whether their experience is satisfactory.
Investing in a feature-rich solution pays off as you can put resources towards other business functions and keep all payroll functionalities in one place.
3. It’s not good value for money
You’re paying a pretty penny for payroll software that just isn’t worth it. Software providers have varying payment models and costs, and you generally get more for your money with lesser-known providers. Great payroll software is worth the investment in terms of increased efficiency and accuracy, so thinking you’re paying too much is a clear sign you need a new solution.
4. It’s not growing with your company
You’re growing, but your payroll software isn’t growing with you. The more employees you add to your system, the more functionality you require, including bulk processing. A solution that is scalable both through its underlying technology (e.g. cloud-based rather than on-premises) and the functionality itself will meet your needs now and in the future, saving you unnecessary admin down the line. If running payroll is becoming more difficult, it’s time to consider change.
5. It’s not very automated
Your days are spent requesting timesheets and manually keying them into the system. Payroll software should not only remove the need for paperwork, but also simplify the manual task.
Some modern payroll solutions solve these common problems. Bulk processing features allow you to complete important tasks for unlimited employees, rather than one-by-one. Plus, some payroll providers include a web portal for your employees to upload documents and change their details, reducing your workload.
6. It’s not fit for the future
Some payroll software simply functions as a digitalised version, without meeting the modern requirements of businesses. Technology is moving rapidly and the way we work is too, from remote working to real-time collaboration.
Cloud-based SaaS technology offers the ability to work anywhere and access your system through a web browser. As updates are automatically pushed, you’ll always be running an updated version. On-premises software is becoming less common as businesses seek technological change. GDPR is also an important consideration which on-premises data storage doesn’t always meet in terms of both data storage, processing, and security.
7. Errors are a regular occurrence
Common payroll mistakes are minimised with automated payroll. Some solutions even highlight potential errors for you, and in some cases allow you to reverse submissions. If your common errors relate to your processes, investing in software that cuts out manual work can reduce inaccuracies and keep your employees happy.
8. It doesn’t consider compliance
Legislation is in place to protect your employees, and it’s essential you don’t fall foul of it. This includes reporting data back to HMRC, employee type taxes, minimum wage, parental leave, and holiday pay.
Great software providers employ tax experts who work with them to ensure the software is compliant and prepared for upcoming changes. It should also offer automated features to ensure, where relevant, you are making correct payments. If you’re still manually making these adjustments, it’s worth considering a new solution.
9. Employees are always contacting you
You receive relentless emails from employees regarding requests for P60s, changes to their contact details, bank details, and even errors on their payroll. This could all be addressed with modern technology. A web portal for employees (employee self-service) will allow them to update details themselves. Plus, an automated solution will reduce common payroll errors.
10. You’re looking for a reason
You’ve read all of the above reasons, and you can relate. Your payroll software isn’t necessarily bad, but it could be better. Searching for a reason to change your payroll is enough of a sign to explore new options and see how your payroll could be made easier. Next, you’ll need to think about the things to consider when choosing payroll software.