CIPP FUTURE OF PAYROLL REPORT 2019
Payroll systems, software and analytics
WORKDAY FOREWORD Workday is pleased to partner with the Chartered Institute of Payroll Professionals (CIPP) on this year’s future of payroll report. This report explores how, despite the risks involved, new technology can greatly improve efficiencies within payroll by automating manual processes – ultimately saving professionals time and organisations money. Many businesses have been slow to adopt new payroll innovations, but it’s still surprising to discover that 58% of the 500 respondents said their current payroll software was five-years-old or older. While 66% stated they’re not looking to replace or upgrade their software in the immediate future. And when we look at where their software is hosted, only 25% said it was in the cloud, with the remainder hosting their software on site or on a client server. We know payroll professionals want more freedom from their software – they don’t want to work to traditional payroll cycles, and don’t want to rely on IT or payroll vendors to add certain elements such as new allowances or deductions. But if they are to achieve this, and take advantage of the latest innovations, organisations must use cloud software.
CAROLYN HORNE REGIONAL VICE PRESIDENT, UK, IRELAND, NORDICS AND SOUTH AFRICA, WORKDAY
Respondents were also asked about how effective their software enables them to be compared with how effective they’d like to be. 50% said they were ‘slightly less effective’ or ‘a lot less effective.’ We know having a single system for HR, payroll and finance would tackle these inefficiencies and provide the insight organisations need for payroll to drive the business. While a strong security model ensures no one has access to data they shouldn’t see. But only 21% of respondents have HR and payroll integrated seamlessly, and even fewer (11%) have finance and payroll integrated seamlessly. When we step back and review the top three challenges respondents face when it comes to their technology – inflexible systems, keeping up to date with the latest technology and a lack of insight into data – it’s clear that cloud technology, including Workday, can tackle these head on. If organisations move away from their traditional software to a solution that allows continuous innovation with new technologies, they’ll be able to receive intelligent and personalised experiences with the highest levels of trust and security.
We hope you find the findings in this report useful and we look forward to hearing your thoughts.
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