In payroll, things are constantly evolving, and we have come to expect continuous change as part of the day job. Industry professionals must therefore ensure they are, and always remain, ahead of the game. This could be internally in terms of systems and processes or externally with new legislation. Whatever it is, payroll professionals need to be prepared and ready to act when required.
Software functionality Payroll software can often be instrumental in ensuring compliance via the most up-to-date tax legislation and other regulations. The role of the payroll professional can, in some ways, be shaped by the functionality of software and new working practices, yet our 2024 survey has found more than half have no plans to change from their existing solutions. This year, the CIPP’s Software Directory 2024 , published in April, highlighted the numerous benefits of implementing new software, which include helping attract and retain talented staff, payroll analytics to help inform strategic decision- making, and time and money savings both within the department, as well as the wider organisation. Those wanting to introduce new software are often looking for better system functionality and / or better customer service, while others may simply wish to have the newest and most popular solutions available in the market. When asking participants if they had recently implemented new payroll software or were looking to do so soon, less than half ( 47% ) said yes. One in five ( 20% ) had done so in the last 12 months and nearly one in ten ( 9% ) were currently in the tendering process. 18% were exploring implementing new payroll software in the next 12 months.
LOOKING AT TECHNOLOGY MORE GENERALLY, HAVE YOU RECENTLY IMPLEMENTED NEW PAYROLL SOFTWARE, OR ARE YOU LOOKING TO DO SO SOON?
20% YES implemented in the last 12 months
9% YES
currently in the tender process
18% YES
53% NO happy with current software
exploring in the next 12 months
However, more than one in two ( 53% ) said they were happy with their current payroll software – indicating new software was not a key priority.
In most cases percentages have been rounded to two decimal places for clarity and may not add up to 100%. Graphics may have been rounded to whole percentages.
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FUTURE OF PAYROLL REPORT 2024
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