Segmented workforce management activities and disconnected administrative tasks oftentimes lead to inefficient business operations, wasted time and money, and a dissatisfied workforce…
This is where integrated payroll solutions come in.
Read on to learn more about payroll integration, as well as how our team of senior-level consultants can help you get the most out of your software.
What is an Integrated Payroll System?
An integrated payroll system is a payroll software solution designed to connect core human capital management (HCM) and payroll processes to improve efficiencies and help companies get the most out of their technological investment.
Seamless integrations between human resource and payroll providers enable companies to…
- Save time by performing payroll, time and attendance, and other core business processes in a single integrated platform
- Maintain regulatory compliance with built-in reporting tools
- Leverage broader workforce visibility to view employee data more accurately and efficiently
- Improve data analysis and decision-making with advanced dashboard functionality
180º vs 360º Payroll Integration
180º and 360º payroll integrations connect core payroll data to external benefits providers or record-keeping systems. Let’s take a closer look at each option…
180º integrations are considered “one-way” and provide information to benefits providers concerning how much an employee contributed to a benefits plan after payroll is processed. These integrations connect benefits and payroll providers to simplify plan administration and ensure contributions are reflected accurately across the board.
360º integrations have two-way functionality and send employee details and benefits elections to and from the payroll provider and benefits or record-keeping system. With these integrations, payroll providers, benefits providers, and employees can better understand changes in benefits elections or contributions to ensure accurate and up-to-date payroll and benefits information.
Main Advantages of Payroll Integration
1) Improved Regulatory Compliance
Integrated payroll systems connect core HR and payroll functions in a single platform to make tracking and maintaining compliance with local and federal regulations, like the Affordable Care Act (ACA) easier for employers.
Having the functionality needed to collect, store, and exchange information required for ACA reporting, including total number of employees, number of full-time equivalent (FTE) employees, and more, simplifies compliance and keeps employers up-to-date with regulatory changes.
2) Automatic System Updates
Integrated systems not only act as a single source of truth for employer and employee data, but they also eliminate the need for employers to manually enter changes into the software.
With automated payroll functions, users can stay up-to-date with changes in their payroll, benefits, or time and attendance data.
3) More Efficient Reporting
With a system that brings HR and payroll together in the same place, less time is spent navigating through multiple systems and countless segmented reports to find the data you need.
Instead of generating separate reports for each source of data, payroll integration software allows users to build and run reports that combine information from different areas of the organization, such as total earnings and employee performance rating, to improve reporting efficiency and decision-making.
4) Enhanced Employee Engagement
Integration software improves the accuracy and accessibility of important data for payroll partners, providers, employers, and employees, and self-service functionality further enhances engagement across the organization.
Improved engagement, paired with well-defined connections between systems and applications not only helps organizations integrate their most important business processes, but also gives users a bigger voice in their own experience and improves satisfaction.
How Can We Help?
Whether you need help integrating ADP Workforce Now with your Workday HCM solution, navigating complex 401 K contributions, connecting core benefits and payroll information, or anything else related to payroll integration, Surety Systems is here to help.
Getting Started with Us
Our team of senior-level payroll consultants has the technical skills and functional expertise needed to lead you to success, regardless of the size, scope, or scale of your payroll integrations. Interested in learning more?
Contact us today to get started!