What are benefits of an integrated Payroll system?

April 2022

Payroll is an incredibly important function, both for the organisation to make sure that their employees are paid correctly and for their employees. Paying salaries correctly means employees stay focused and motivated as well as ensuring they have the capability to meet the financial demands of their lives outside work.

 

How does an integrated system benefit employers?

There are many benefits of integrating payroll with other business-critical software solutions. Perhaps the most obvious benefit is that it can save the business time and money. By automating and integrating payroll processes, businesses can eliminate the need for manual data entry, and double entry across a number of systems.

In addition, an integrated payroll system can help to improve the accuracy of payroll data. By integrating payroll with other software systems, businesses can ensure that all of the necessary data is captured accurately and in a timely manner. This helps to reduce the risk of errors and inaccuracies when running the payroll.

Another benefit of an integrated payroll system is that it can help to improve communication between the payroll service provider and other departments within the client business. By sharing data between systems, this helps to ensure that all relevant departments and suppliers have the most up-to-date information.This can help to avoid confusion, miscommunication and it also reduces the risk of errors through multiple data inputs.

 

What information can be integrated with the payroll solution?

Business-critical information such as labour scheduling, absences, time and attendance, HR files, pension information and accounting systems can all be integrated with suitable payroll solutions. By integrating all of these solutions, businesses save manual set-up time in entering data into multiple systems. This is done by updates flowing through from one system to another, using something called an application programming interface(‘API’).

 

An application programming interface is simply a connection between computers or between programs. An API is a software interface, allowing systems to transfer data and ‘talk’ to each other. APIs offer a ‘service’ to other pieces of software. The data and correct format is transferred and understandable by the receiving software.

 

APIs need to be created and follow an API specification to schedule the transfer of data automatically. The API specification also ensures that the format of the data is created so that the receiving software or solution understands the information that is provided. A simple one-way API can be set up with any cloud software meaning any data can be transferred in real-time when changes are made.

 

What software integrates with PayCaptain?

PayCaptain partners with a number of HR systems, including the solution offered by Rotaready. Rotaready’s solution offers rota scheduling, time and attendance, HR and demand forecasting. It is fully integrated with PayCaptain so that employee data and timesheets that have been entered and approved in Rotaready is automatically transferred to PayCaptain. The API between Rotaready and PayCaptain runs three times each day, ensuring that PayCaptain contains the most accurate and up to date information.

 

PayCaptain is an outsourced Payroll provider. This means that PayCaptain makes sure that employees are paid correctly, on time and that the correct deductions are made from their gross pay. PayCaptain can also make payments to HMRC and to any service providers for employee benefits, such as private healthcare, charitable donations, pensions or gym memberships.

 

When the employee salary information is approved and transferred via the API, the PayCaptain team are alerted to the approved payrun. The team then process the payrun to ensure employees are paid correctly and on time.

 

With a host of innovative features in PayCaptain, employees can access emergency funds in times of financial need from accrued pay. This information is transferred via the API so that, when employees request emergency funding, only money from accrued hours will be paid.

 

In summary, an integrated payroll system offers many benefits to businesses. By automating processes, improving accuracy, and improving communication, this helps to make the payroll process more efficient and effective. Integrating software solutions with PayCaptain means accurate information is available real-time and that employees receive the correct pay at the correct time.

To learn more about how PayCaptain can help your business, contact us for an informal, no obligation chat. We’ll be happy to demo PayCaptain for you.

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PayCaptain PayrollSolutions Limited, www.paycaptain.com is an HR/FinTech company that delivers a fully automated cloud payroll service.The solution contains many unique and innovative features for employees, them to take control of their pay and increase their financial well-being. PayCaptain is a payroll solution that helps employers pay their workforce, regardless of income and personal circumstances. The solution also incorporates functionality that is specifically designed to positively impact the financial resilience of people struggling with money, or vulnerable and low-income employees.

PayCaptain is the first B-Corporation certified payroll company in the world. To read more about B-Corporations, visit www.bcorporation.net

 

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