04:05
ISSUE 3
“Payroll has a fundamental mantra: employees must get paid, no matter what. Various forms of technology help us achieve this with quality assurance.”
The Mantra of Payroll: Uninterrupted Payments Payroll has a fundamental mantra: employees must get paid, no matter what. Various forms of technology help us achieve this with quality assurance. The progress in software development and the support it provides are rapidly advancing. Automation, artificial intelligence, and digital tools are increasingly integrated into payroll systems, improving accuracy and reducing manual errors. As in other areas of expertise, the impact of AI is also flourishing within payroll. AI-powered tools can handle complex calculations, compliance checks, and data analysis more efficiently than ever before. Going back in time and thus in technology is not desirable, so what should be done? In Sweden, the reporting to banks and the Tax Agency is almost completely done electronically. This digital integration ensures that data is transmitted quickly and securely, reducing the risk of errors and delays. While technology greatly enhances payroll operations, it’s essential to remain vigilant and prepared for potential disruptions. For every payroll run, there should be a contingency plan. And not only in theory; it needs to
be tested. Practice makes perfect. One of the more well-known outages in a Swedish payroll was resolved due to the contingency plan being tested the month (!) before the breach. Regular testing of contingency plans helps identify weaknesses and ensures that the team is ready to respond effectively to any crisis. Liability and Knowledge in an Automated World Another important issue when it comes to using technology is the matter of liability. Automation and digitalization, AI, and APIs help us save time, but they should not reduce payroll knowledge. To ensure correct payroll processing, knowledge is crucial for analyzing, making requirements, and working proactively with payroll data. Understanding the intricacies of payroll laws, regulations, and agreements is essential for accurate processing. In Sweden, we have 642 collective agreements in addition to legislation and specific individual settlements. This complexity means that a standard solution is seldom the answer. Payroll professionals must be well-versed in local laws and agreements to ensure compliance. Adding a global perspective, we all know that local
Made with FlippingBook - Share PDF online