Feature topic - automation
timeframe, true open banking will be available to all with automated payments, increasing accuracy and efficiency of payments. Will this mean we are all paid daily in five years’ time? It may take a bit longer to see the end of paper payslips (five years?), and CSVs should only be restricted to recidivist pension providers by then. Increasing automation of routine administration tasks will rise rapidly, significantly increasing efficiency, job satisfaction and productivity. Today it is easily possible to run a whole payroll automatically each pay period; including automatic enrolment submissions, journal uploads, RTI, payslips, employee notifications etc. It takes just a couple of payroll software than you’d think, but it is making small advances ...AI is less prevalent in
technology slate and 2019 saw at least five completely new cloud payroll products enter the UK market. Expect more in 2020. Cloud payroll is already being embraced by SMEs (small- to medium- size enterprises) and bookkeepers, and 2020 will see significant numbers of ‘cloud accountants’ migrate across. Larger bureaus are more likely to adopt a phased approach, utilising the efficiency gains of the cloud providers with the specialisation of their existing desktop solution. Expect large in-house operations to review their software as existing licences and/or agreements come to an end. But why cloud technology? Well: ● it removes a large business continuity risk (no onsite servers or local back-ups required) and you can work anywhere ● the cloud is generally quicker (2,000 new joiners processed and assessed in under twenty minutes, anyone?) and more flexible ● constant delivery of upgrades, and ● lots of automated features. Cloud payroll software generally increases efficiency and will dominate the payroll market within two to three years for most-use case scenarios. In the same
minutes to set up for the whole tax year, knowing that the system will even suspend that automation and let you know when certain flags are raised. The unpredictable technology call is ‘artificial Intelligence’ (AI). True, AI works without human intervention; it will pick up on clues in the environment to make decisions, take actions, offer solutions and learn from its experiences. Despite the claims, true AI is less prevalent in payroll software than you’d think, but it is making small advances. In the near future, AI is likely to improve the efficiency of some of the routine payroll tasks, but significantly shaping the payroll profession as a whole is a lot further away. In the interim, I doubt that the need for skilled payroll professionals is going to significantly abate. Overall, the future of payroll is one where technology picks up the mundane chores. However, the increased complexity of legislation, devolution and the impact of HR functions will mean that payroll professionals should not be worrying about becoming obsolete – in fact, they should be upskilling to embrace an even more complex future. n
50% DISCOUNT FOR CIPP MEMBERS *
Updated every seven days **
7
Payroll and HR legislation update
One day
This focused course represents the single best opportunity to be briefed and updated on changes affecting payroll.
This course covers: ● Tax and NI contributions ● Operating Pay As You Earn (PAYE) ● Statutory pay and leave ● Statutory deductions ● Expenses and benefits ● Pension ● Employment rights and other matters
* Terms and conditions apply.
** Correct at time of publication. Course materials checked and updated every seven days.
Book online at cipp.org.uk or email enquiries@cipp.org.uk for more information.
cipp.org.uk CIPP_UK cip .org.uk @CI P_UK
45
| Professional in Payroll, Pensions and Reward |
Issue 57 | February 2020
Made with FlippingBook - Online magazine maker