Think back to the year 2000. Netflix was busy fighting Blockbuster by mailing out movie rentals. Viewers would make their selection. Wait for the snail mail to arrive. Then return the movie or TV season and wait for the next batch of entertainment.
Amazon was an emerging online bookstore. Avid readers would order their paperbacks and wait days for their order to arrive at their doorsteps. Trips to the store were still needed for odds-and-ends like water filter replacements and batteries.
Today, on-demand streaming is available at our fingertips. Binge-watching is commonplace, and Blockbuster is a thing of the past. And Amazon is now the largest e-commerce retailer. They can deliver your strange impulse purchases in just a few hours in some cities.
Now that you don’t have to order DVD or VHS rentals or only buy books online and not much else like in the early 2000s, why stick with payroll systems from the same era?
While our at-home tech has changed dramatically, you wouldn’t know times have changed by looking at the payroll systems of many global corporations.
The out-of-date, complex HR platforms that many large companies use today were implemented by employees who are now starting to retire. Companies today strive to be agile and move away from old processes, so it no longer makes sense to keep investing in old technology.
Forward-thinking corporations consider the longer-term benefits of outsourced payroll. Finding the right payroll and HR consulting service partner can help map out a clear path to modern payroll solutions and transparent people analytics.
Many corporations that operate on a global scale are highly in-tune to how the world is evolving.
Take Artificial Intelligence and machine learning, for instance. This next-generation technology is emerging in companies around the globe, and those that use AI strategies can also apply the technology to HR and payroll.
AI aside, certain aging payroll and HR systems won’t be supported forever. Companies still working with old technology won’t be able to easily use the latest advances in five to 10 years without improving their systems now.
Modern payroll system providers can help you navigate financial and legal challenges like GDPR and international data requirements. This helps you manage legal and financial risk. A centralized HR and payroll integration also gives you a better insight into where your data is and how it flows.
Modernizing your payroll allows your corporation to reduce risk and gain a partner in the complex world of global payroll. This is in addition to centralizing important workforce data and insights.
Isn’t it time you left the year 2000 behind?
We get that overhauling your payroll system seems like a daunting task. Because HR professionals are busy and organizations depend on 100% error-free payroll. We’ve created a platform called FastTrack and it does exactly what it sounds like.
It’s a best in class payroll solution, with integrated options for time and benefits. Choose an option that’s pre-configured based on common needs of similar companies, a fully customized-to-you system, or a blend of the two.
Companies that use FastTrack see their payroll system migration completed in as little as 12 weeks. At that time, they’ll see analytics and compliance features in one automated system.