Streamline payroll processes with Unit4 ERP for accuracy, security, and time savings

With modern solutions, your payroll team can recover this time spent on admin tasks and repurpose it to ensure that payroll processes are continuously optimized and audited.

In this blog, we will discuss the challenges faced within the payroll process, why legacy systems can’t keep up, and ultimately how Unit4 Payroll can provide the streamlined solution you need to save time, cost, and improve the employee experience.

What challenges are faced in the payroll process?

• Data integration – Payroll requires data from not just HR, but from finance and project teams as well as external applications. Whether that’s how many hours an employee has worked, what tax law must be complied with, or the currency they need to be paid in or the benefits they contribute to when data is siloed it can delay the process.
• Manual tasks – Accurate payment requires a series of calculations that can get quite complex, relying on teams to do this manually will inevitably lead to errors. Additionally, when something goes wrong, manual intervention is required can be tough with fragmented systems and data.
• Security – Security should be paramount in the payroll process, especially when dealing with employee’s financial information, and your organizations. With manual processes and fragmented systems, data can get lost and become vulnerable, but within a Cloud platform this data can be secured and maintained much more easily.
• Reporting – Reporting is key for compliance and senior leaders and stakeholders will also demand accurate payroll reports, to gain insights and ensure compliance. Report generation can be arduous with manual processes and fragmented data and errors can have a huge impact on the organization. 
• Platform costs – A legacy approach to payroll can result in many platform subscriptions for the various applications and tools organizations use for payroll processes, this can add up unnecessarily.

Why Unit4’s Integrated ERP suite provides streamlined payroll processes

Unit4’s ERP suite offers a dedicated Payroll module and enables you to benefit from integrated data across Projects, Finance, HR and external providers.

• HR – Integrating HR information with finance, projects and third-party providers ensures that any changes to employee information that affect pay, such as absences, bonuses or benefits, will be synced, reducing manual intervention.
• Projects – Project data is updated continuously as projects occur. Project data is vital for pay information such as hours worked, expenses, or overtime. On the flipside, when data is integrated like this it becomes easy to quantify the costs of a project based on integrated payroll data.
• Finance – When payroll goes out, integrated data ensures that your general ledger is always updated, payments can be done through accounts payable, and salary analysis can be much easier with the context this brings. Importantly, Cloud capabilities can ensure that tax compliance frameworks can be used automatically, ensuring no errors.