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NewOrbit are software developers and business consultants with a background in Payroll and HR systems. When building out their product, Payflow, they reviewed the Payroll industry and identified five ways Payroll can optimise.
Get proactive, not reactive
Tracking the progress of the tasks that lead up to a pay date means a manager can see whether it’s on target or not. This means you can spot risks and mitigate for them, getting things back on track before it’s too late. The more visibility you have, the fewer late nights and long hours for your payroll staff when things go off course.
Forecasting
Having a reliable solution for forecasting workload means a manager can plan ahead for busy periods. By knowing when the pay dates and tasks fall, you can make sure you’ve got the resource you need, when you need it. Holiday requests and other time-off can therefore be planned in accordance with workload so as not to exacerbate the situation in busy times.
Ensure continuity of service
Many payroll staff have designated payrolls they process, giving them specialist knowledge about how each one is run. Things can go wrong if this information isn’t available when they aren’t available. Centralising the key details such as contacts, tasks, dates for each payroll, and work instructions means it’s easy for someone else to take on.
Track your success rate
How many tasks were completed on time and how many of them were late? By tracking your process compliance, you have the ability to see trends and draw conclusions to increase performance for the next period. Reviewing this data is essential for efficiency and continuous improvement.
Prioritise the task list
When you have a high number of payrolls to manage and deadlines to hit, completing a payrun from start to finish and moving onto the next isn’t optimal. Knowing the most urgent tasks across all the payrolls, right now, means you can manage high volumes effectively.
Get in touch to find out more:
www.payflow.io | sales@payflow.io | 020 3757 9022