Future-proofing your business: the power of integration and generative AI (Moorepay)
Future-proofing your business: the power of integration and Generative AI In Moorepay’s latest annual payroll survey * , businesses were asked whether their payroll system integrates with their human resources (HR) software. Since 2022 we’ve seen just shy of a huge 100% uplift in businesses connecting their payroll and HR software via application programming interfaces (APIs).
alike. It’s an incredibly powerful tool that will play an important role in the future of payroll. At Moorepay, we’ve already adopted Microsoft’s GitHub Copilot in our development environment and in time, this type of technology will flow through into our production environments. The payroll industry is starting to use AI to: ● combat fraud ● identify anomalies ● automate routine and repetitive payroll tasks ● answer employee queries. The latter links into the wider theme of employee engagement with payslips, and the importance of your staff understanding the information on their payslips. Generative AI will undoubtedly drive a shift from automated payroll to proactive payroll but what are the biggest fears in the industry? Clearly, there are considerations around data protection and compliance, but on a more personal level, some payroll professionals (and those in administrative roles in particular) may worry that AI is coming for their jobs. However, this change shouldn’t be viewed in a negative way. It will open up opportunities for development and enable teams to focus on more strategic, value-adding areas of payroll. Are you looking for an all-in-one payroll and HR solution? We provide all-in-one payroll and HR software. That means the best of payroll and the best of HR, in one place, with one login and one source of truth for all your people data. Visit our website to find out more.
Ant Brassington Chief product and technology officer, Moorepay
What are the benefits of APIs and software integration? Having all your systems communicating efficiently removes duplicated processes and human error, while also saving a user’s time. It automates previously manual tasks, reducing the level of admin, while giving you accurate analytics and a ‘true view’ of data across all your applications. How do suite suppliers differ? What’s the difference between using multiple pieces of software from various companies and brands that connect via APIs, and using an all-in-one payroll and HR solution? For me, it boils down to service and ease of use. Through having a single supplier for both your payroll and HR, you have a single contract and a single point of support which spans both functions. This means you’ll benefit from having access to qualified experts in both payroll and HR, ensuring you feel fully supported. Most providers specialise in either payroll or HR software as their forte. But with all-in- one payroll and HR software, you get one platform that’s packed with a comprehensive range of payroll and HR modules. Integrating payroll and benefits When looking at the power of all-in-one software, what else can we expect to see for
payroll? Well, the big one is benefits. When benefits platforms are integrated with payroll, you can take advantage of tax and National Insurance benefits for both the employee and the employer. Many benefits can be offered through salary sacrifice, employees can self-select through a single sign-on platform, it’s touch-free for the payroll team and deductions are clearly visible to employees from their payslip. Benefits packages are crucial for boosting employee experience, supporting financial well-being and helping businesses to attract and retain top talent. “Through having a single supplier for both your payroll and human resources, you have a single contract and a single point of support which spans both functions” There’s a bright future for AI-driven integration The biggest integration piece we’ll see emerging over the next 12 months is generative AI. It was the explosive breakout tech trend of 2023, capturing the attention of techies and mainstream audiences
* Annual Payroll Survey Report 2022-23 https://ow.ly/i3sL50QSbsL.
The information contained within these tables has been supplied and verified by the suppliers. The CIPP does not endorse any particular provider and cannot be held accountable for errors or omissions in the information provided. We strongly advise that you conduct market research before selecting a new supplier.
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