How much will your company’s ROI be once you have implemented a centralized payroll system?
What will be the percentage of efficiency gained?
How much faster can the payroll process become?
Most of the benefits we value when choosing a centralized payroll system are precise, quantifiable ones. While these are evidently important, there are other less noticeable benefits that make the switch and investment well worth your trouble. Identifying them helps you make a more informed decision and calibrate your expectations for your new payroll system.
Read on and find out what they are.
A centralized payroll system will help you with and even take over some major payroll functions and processes such as:
When these tasks are automated to some degree and taken care of by your payroll system, there is less room for human errors. Previously, human errors could mean that the whole payroll team would need to go over all the data once more while contending with an impending deadline. One small mistake could cause hours of overtime and become a source of stress for payroll employees.
With human errors being reduced, the strain on the payroll team is considerably lessened – leading to much-improved team morale. This applies to the payroll team and other workers who are less likely to receive late payments.
Better employee morale, as has been shown in various studies, is conducive to increased productivity and a better employee experience.
One of the more underappreciated aspects of a centralized payroll system is reporting. A modern payroll system will be able to quickly generate all manners of reports using data entered and stored in the system.
The easy arrangement of data in reports and analytics holds significant power.
They help you notice patterns and analyze your workers’ behaviors through key indicators. For instance, analytics could help you determine the number of leaves used during a certain time period, allowing you to anticipate and better distribute your workload during these key periods.
You would also be able to better determine peak productivity periods and the most productive employees.
With the help of all this data, you will be empowered to make better short and long-term decisions about workforce scheduling and strategies. These improvements while difficult to measure and not always noticeable, are invaluable to your company’s continued well-being.
Clock-in systems are essential to the proper management of remote workers. They offer real-time feedback, planners, and performance monitoring to managers and team leaders. This allows for better coordination and communication between remote workers and their managers.
In this way, managers have a better understanding of what workers’ schedule looks like, and how much time it may take them to finish a task or work on a project. All of this leads to better-informed decisions and ultimately to better management of remote employees.
Knowing that you can reliably manage remote employees – without their productivity suffering – can empower you to offer opportunities for remote or hybrid working more readily. In itself, this opens up your company to the possibility of hiring beyond borders, thereby opening up your talent pool. Being able to offer flexible working arrangements also makes you a more attractive employment option for workers.
Improved employee wellness is one significant, immeasurable advantage of a centralized payroll system.
Often, employees must endure overwhelming workloads, stress, and poor communication as part of their jobs. Naturally, these factors do not work in your company’s favor. And while no piece of software will be able to address the totality of these issues, software that promotes openness, trust and better communication will undeniably help to improve employee experience. Indeed, a good payroll system can make a world of difference, whether it’s by the removal of tiresome tasks for the payroll team, accurate and timely payments for all employees, or better management of remote employees for enhanced productivity.
Better employee experience, as you may already know, equals better employee retention, which also means reduced costs for your company. This is because it is costlier to find and hire new employees than it is to retain already-employed personnel.
A modern, centralized payroll system can make payroll processes so much easier. Employees no longer need to fill paper forms to ask for leave permissions, to log in their overtime hours or to clock in and out. This administrative burden is significantly lessened thanks to employee self-service portals – a feature that the right payroll system should have. These self-service portals are available either via a mobile application or a website. Employees may also feel more involved in their work in this way.
As previously mentioned, a centralized payroll system will lessen the burden on not only your payroll but also your HR teams. This frees up their time, allowing them to focus on matters that truly require their attention, rather than doing repetitive tasks that are important – but which can easily be automated. Your HR personnel will, for instance, better be able to listen to employee grievances and set up strategies to improve employee experience.
A centralized payroll system (such as Sage 300) offers numerous benefits by streamlining and automating critical payroll functions. This way, you can efficiently handle tasks like calculating salaries, managing deductions and benefits, generating pay stubs, tracking attendance and working hours, handling tax calculations and filings, automating payment processing, generating insightful reports for payroll analysis, ensuring compliance with labour laws, integrating with accounting and HR systems, safeguarding data, and reducing administrative workload and potential errors. Implementing a centralized payroll system can significantly enhance efficiency, accuracy, and compliance while freeing up valuable time for other important business activities.
Africa HR Solutions will empower your company to reap these ‘invisible’ benefits as well as the more quantifiable ones thanks to our modern payroll offer. It brings together the best of human knowledge and technology, offering you a payroll system that is tailored to your company’s needs, and which can meet the changing demands of work in 2023.
Ready to reap the benefits of modern payroll systems? Get in touch with us now.
Grant Geraghty is the longest-serving member of the Africa HR team. This resident subject matter expert and client champion is responsible for gaining a deep understanding of our clients’ unique HR needs in Africa and providing tailored solutions that align with their business objectives. Grant collaborates closely with our clients to ensure that their requirements are properly implemented, providing ongoing support and guidance throughout the process.
Grant brings a wealth of experience to his role, having served as Africa HR’s longest-serving employee. He holds a Bachelor of Commerce degree, with a major in Economics and Business Finance, from the University of Natal in South Africa. Additionally, he has completed a certification program in Payroll and Tax Administration from the University of Cape Town, further enhancing his expertise in HR operations and compliance.
His commitment to delivering exceptional service and his extensive knowledge of HR in Africa make him an invaluable member of the Africa HR team.
Kevina Takoordyal has a BA Hons Business Management from the University of Glamorgan, UK, with MBA in leadership and Innovation, MBA General, PMP Certified, and Agile Scrum Master. She currently works as the Head of Operations at Africa HR Solutions Ltd with more than 20 years of proven leadership capabilities in Operations, Business Development, People Management, Process Optimization, and Project Management in the Financial Services, BPO, Banking Industry, and Heath Care Industry. In Senior leadership roles with an international footprint across Europe working and extensive Pan- African experience from a compliance, finance, and operations angle, Kevina comes across with a panoply of cross-functional skills. Kevina also serves on a few Boards, Non-Independent Executive at MioD and for NGOs on a voluntary basis, a coach and mentor to aspiring female leaders across Africa and Mauritius.
Kevina is a firm believer in Servant Leadership with a strong focus and commitment to uplifting others, with the ability to deliver through a highly engaged – diverse team, and works towards consistently synergistic value creation. While being a focused and adaptive thinker and Kevina is actively participating in panel discussions on Innovation, CX, Digital transformation.
Kevina serves as Project Assessor for the National Youth upskilling program. She has been recognized as Global Talent in a few companies, Ceridian, and International SOS Ltd whereby she has been awarded a few scholarships and had the opportunity to be mentored by Senior Vice President in the US. Award Winner in various fields and at a national level and recognized including Super Achiever Leader Award in Africa in 2016, Awarded Africa Women Leader 2018.
Viloshna is an experienced finance professional with 18 years of expertise in strategic financial planning, financial analysis, cash flow management, systems and controls implementation, financial reporting, and continuous process improvements. She currently serves as Head of Finance & Business Support, where she has successfully automated and leveraged the financial reporting system capabilities to ensure efficient company operations.
Viloshna’s background includes senior roles in a multinational pharmaceutical company and a large listed Mauritian conglomerate. Her meticulous attention to detail and strategic thinking have streamlined financial processes, making her a valuable addition to any finance team. Viloshna is a qualified finance professional with an FCCA qualification and an MBA, bringing valuable expertise to any organization.
In her current role, Viloshna leads the company’s Treasury and Payments function, including the fulfillment of the company’s cross-border payments into Africa. With her strong educational background and extensive experience, Viloshna consistently demonstrates her ability to optimize financial operations, minimize risks, and improve profitability. Her expertise in financial reporting and process improvements make her a valuable asset to any organization.
A qualified lawyer who joined Africa HR Solutions in July 2020, Mark Du Preez has experience working in private practice for a reputable law firm in South Africa. He also played commercially focused roles at a leading private bank, wealth management company, and outsourcing firm in South Africa and Mauritius.
Mark has played a pivotal role in Africa HR Solution’s risk mitigation strategy, which positively impacted P&L performance over the years.
He currently leads the Partnerships function of the company including relationships and oversight with in-country partners (ICPs) across Africa.
Alex has more than 15 years of experience in the global, strategic development of both enterprise and consumer brands in categories including technology, transport, enterprise software, entertainment, and travel.
With experience in roles on both agency and corporate side, he has worked across international brands and has led the development and execution of multi-discipline campaigns across EMEA, NORAM and Asia Pacific.
His focus is on driving meaningful business impact through brand differentiation and building high-functioning, digitally oriented, and analytically driven capabilities. He is motivated by working with, and developing dynamic people, teams, and organizations.
He leads, manages, develops and mentors the Key Account Management department, including line management responsibility for the team of Key Account Managers and Key Account Administrator who represent the Company as the primary communication link between all relevant stakeholders, including clients, third party in-country partners and internal functions.
Originally from Mauritius, he holds bachelor’s degrees in International Business, Finance and Management from the University of Nevada, Reno.