Payroll

How To Make Payroll More Efficient and Reduce Human Error

payroll human error

This article is also featured in the Global Payroll Magazine, download the full magazine here

We’ve all heard the expression ‘time is money’. So, think about this: Business Wire reported on the findings from a multinational research study, which found that, on average, office workers spend 552 hours – the equivalent to 69 days – a year completing administrative or repetitive tasks. It doesn’t exactly sound like the best use of time or money, does it?

Many tasks involving the input of numbers, such as payroll, are, of course, repetitive by nature but are no less very important. The question isn’t whether these tasks should be done, but how we can be smarter with our time and resources.

In other words, how can we work smarter, not harder?

Making up for Lost Time

Smartsheet’s Automation in the Workplace 2017 report found that 69% of the 1,000 information workers surveyed said that automation would reduce wasted time at work and 59% said they could save six or more hours a week if the repetitive tasks were automated.

The American Payroll Association (APA) estimates that automation reduces payroll processing costs by as much as 80% through the reduction of errors and, according to the same Smartsheet report, 66% of those surveyed said eliminating human error is one of the main problems that automation can address.

A Forbes article titled ‘How The Right Automation Road Map Helps Overcome Human Error’ describes how automation “takes basic tasks out of human hands and allows the worker to focus on strategic initiatives, development and other more critical functions.”

Consistency and accuracy are, of course, essential when it comes to payroll and automation also enables payroll and HR professionals to focus on other critical tasks which require human decision making.

Finding the Right Things at the Right Time

In addition to automating tasks, integrating systems and making information easily findable is another crucial factor when it comes to saving time and money. McKinsey reported that “employees spend 1.8 hours every day —9.3 hours per week, on average—searching and gathering information. Put another way, businesses hire 5 employees but only 4 show up to work; the fifth is off searching for answers, but not contributing any value.”

Additionally, the report shows that “The average interaction worker spends an estimated 28% of the workweek managing e-mail and nearly 20% looking for internal information or tracking down colleagues who can help with specific tasks.” Once again, this hardly sounds like the best use of company time and money.

Why not have information at your fingertips and all in one place? Integrating existing systems into one central hub creates greater employee efficiency and productivity, as well as self-sufficiency.

Designed for both HR professionals and employees, Benify’s cloud-based HR portal integrates with other business systems including SSO, API and is easily integrated with existing payroll systems. The portal offers organizations a one-stop-shop solution, which improves accessibility, significantly reduces administration, and helps automate time-consuming and repetitive tasks.

Having the right processes and systems in place is critical for creating efficiency and productivity. Remember, it’s all about how to work smarter, not harder.

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augustus 13 2019