Automation has become a driving force in productivity and progression for many UK SMEs, bureaus and enterprises. In fact, current research shows that 76% of UK software buyers expect their business to increase spending on software in 2025, demonstrating that automating core business areas, like payroll is increasingly inevitable and desirable.
This is also confirmed with a recent UK survey revealing that 25% of business leaders plan to expand their use of automation in 2025 to help support better decision making and streamline workflows.
If your bureau or enterprise is using clunky, disjointed, or outdated payroll systems to process employee salary payments, then you’ll know better than most that these are time-consuming and prone to error.
Typically, there is also more evidence of error in this type of payroll processing, creating the conditions for costly and burdensome increases in administration.
In this article, we explore what payroll software is and how payroll software works, focusing on the key benefits you can achieve in your business.
Contents
- Why are bureaus using payroll software?
- What are the benefits of payroll software?
- Should you integrate payroll software?
- Embrace payroll software with Interbacs.
Why are bureaus using payroll software?
Automating payroll through a software package simplifies and expedites your payroll function. Bacs-approved bureaus will need a payroll software to facilitate their customers employee payments while creating time and cost efficiencies.
Payroll software provides a secure link to BACS, for multiple employees and entities. Accessing AWACS reports directly from the software delivers deeper detail and provides better means of monitoring submissions.
Integration is an additional factor in payroll software adoption, as Bacs-approved bureaus can improve their productivity with software that seamlessly pairs with accounting software and other internal systems.
What are the benefits of payroll software?
There are multiple advantages when your business begins to use payroll software. These include:
Autonomy and flexibility
A premium payroll software solution creates more business autonomy by enabling you to manage the way you pay your employees to suit operational needs. Plus, payroll software can run different payroll frequencies, so you can pay employees and contractors at varying times if needed.
Cost efficiencies
It may sound counterintuitive to invest in payroll software to save money, but it’s likely to be the case for your enterprise. Payroll software is typically cheaper to run than using a third party, such as a bank via business banking or a costly Bureau.
Greater agility
A ‘one size fits all’ approach in payroll software can actually hold your business back. Having to deal with processes that have nothing to do with your specific use case, just causes more work.
If you decide to use payroll software, you’ll immediately notice how agile and customisable this is compared to business banking. This means that you can align your payroll processes to your operational workflow and existing systems for improved productivity.
Enhanced reporting
With a payroll bureau software solution, such as the one you gain with Interbacs, you will have better access to financial reporting. This will also create easier alignment to internal records and reconciliation for transparency and compliance purposes.
Should you integrate payroll software?
Looking to boost productivity, create efficiencies across your organisation and eliminate errors in payroll? Then integrating the right payroll software is definitely the answer.
Here are 3 reasons why:
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Security
Safeguarding your business is possibly one of your most pressing concerns. With a rise in cyber incidents, this perspective is shared among many business leaders.
Security features within payroll bureau software, such as data encryption, segregation of duties, smart card and HSM authentication, ensure that your business can protect itself against payroll breaches and retain compliance.
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File validation
Payroll Bureau software from Interbacs provides a solid solution that validates all of your payment files and checks they are in the correct standard 18 format. The software also checks for errors and issues system warnings to ensure incorrect files cannot be processed.
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Customer support
At any point during your payroll cycle, there could be instances of unsurety, staff attrition or business process changes that have the ability to affect your payroll submission process
With an experienced payroll software provider like Interbacs, you gain comprehensive support to help you optimise payroll bureau software on a continual basis.
Embrace payroll software with Interbacs
Businesses acting on behalf of their customers face considerable challenges as they manage client transactions. Bureaus large or small, who require software to connect to Bacs, can manage any number of SUNs seamlessly within one solution. A great example is payroll bureau software from Interbacs.
Using Interbacs payroll bureau software provides protection, assurance and streamlining of operations for increased efficiency.
Looking for payroll service support? Get in touch with our expert team for a friendly chat and to discover more about payroll bureau software.
Photo © by tumsasedgars from Getty Images.
