Payroll hasn’t changed in 50 years. In fact some would argue that the process goes back to Victorian times. Over 80% of enterprises run monthly payroll because trying to do anything else would be unthinkable.
So how did we get into this situation?
As new requirements for pay and benefits continue to evolve, new software packages have been bolted onto payroll: flexible benefits, payslip and pension portals to name a few. Incredibly these systems often span multiple different suppliers, so it’s entirely normal to outsource payroll to supplier A, flex-benefits to supplier B and use a payslip supplier C. How does data move between you and these systems? via the humble excel spreadsheet. We invite you to even try to draw out a diagram of your current payroll process!
Payroll today isn't fit for purpose. You are paying for all the manual inefficiency.
Your future employees will have multiple jobs. They won’t get a fixed monthly salary. You’ll want to pay them by project, by the day, by the hour or by the piece. They will need to be paid outside a monthly cycle, and they will want/ need to be paid individually.
Each employee is an individual
Because today’s payroll is a monolithic process, everyone’s in the same boat because that’s the only way the process can work. But every one of your employees is an individual.
Per employee payroll
Each employee can run their own payroll. Of course they can’t pay themselves a million dollars ,you set the parameters and they can run their own payroll accordingly. So of you pay them a fixed rate per week (5-days work), they can run payroll after one day and receive 20% of the weekly pay. If you want you specify 2 pay runs per employee maximum.
Next payslip allows any employee [or actually anyone] to run their next payroll anytime. This forward calculation is impossible to deliver in todays payroll process. The advantages are significant: Errors can be eliminated long before payday, employers can see what they will earn in real-time. Bonuses, commissions, per-piece and per hour pay items become immediately visible.
Payroll needs data from various sources to function and we’ve got that covered. For example, HR may need to submit new starter or leaver information; Finance may need to submit bonus or commission calculations. E-mail and SMS: If the input is from a person, paiyroll® gathers that data. It uses E-mail in the first instance to notify the data provider that their input is needed. If they don’t respond, we use SMS. If that doesn’t work, escalation rules always mean there is someone else who provide the data. Since we know your pay schedule, we always allow plenty of time to collect the data. Data collection from another system: If you use another system to book holidays, record time and attendance, then we can load data from that system using daily, hourly or live feeds.
Smart Configuration Service
Every company has a different way of paying employees, we provide a rapid and smart configuration service to meet your unique requirements. paiyroll® has been designed to be able to support virtually any payroll process and workflow complexity.
Payroll is an employee reward and retention tool not an administrative burden
That’s our POV. After job satisfaction, hard cash is why employees come to work. Unleash your ability to attract and retain talent.