SumTotal Blog

National Payroll Week: Celebrating the Impact Payroll has on the UK Economy

September 4, 2018



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Established by the Chartered Institute of Payroll Professionals (CIPP), National Payroll Week, 3rd-7th September, raises awareness of the incredibly important role payroll plays – not just within organisations, but the economy as a whole. As the CIPP notes, payroll contributes £4.46 billion collected through income tax and National Insurance to the UK economy. On a personal level, many of us are grateful to these unsung heroes who we largely ignore until something goes wrong and suddenly the numbers in our payslip don’t add up.

To celebrate National Payroll Week, it is fitting I start by expressing gratitude to all those in SumTotal’s payroll team, a group of rare people who understand a payslip, and who can tell me why or where the money goes.

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Everyone in an organisation appreciates the efforts and hard work payroll professionals do to ensure we all get paid correctly and on time. It’s a behemoth task, and as one of the largest expenses for companies, it makes sense that whatever solution you use provides payroll with the necessary tools and capabilities to perform their jobs efficiently and effectively.

What does that mean? Well for starters, ask yourself these questions:

  • Does your current payroll solution allow you to manage multiple payment types for workforces of any size, with unlimited employee and tax IDs during each pay period?
  • Can you leverage journal entries that are correct the first time and update employee benefit deductions in real time when rates change, or you need to account for other events such as anniversaries and status changes?
  • Does it allow you to integrate HR management, compensation administration, reporting, self-service, and web-based open enrolment in one easy-to-use system?
  • Does it automate workflows to streamline all types of pay and benefits administration? Does it consider singular and group benefit plans for union or salaried employees? Are these processed quickly and accurately?

SumTotal asked these questions and incorporated the answers into our Payroll and Benefits Management solutions. We then went further and spoke with payroll professionals when designing our solution to understand what tasks administrators perform daily and what they need to process error-free and timely pay and benefits every single time. Their responses were integrated into our solutions to ensure the offering works best for the people using it.

What about the future?

GDPR, Brexit, the Apprenticeship Levy plus keeping up-to-date with legislative HR and payroll updates appear to be the top concerns for payroll professionals. Which functions or capabilities does your current solution offer to allay these fears?

SumTotal’s Payroll and Benefits Management solutions offer the most compliant solution in the industry. Our internally maintained taxation and regulatory reporting address the ever-changing business requirements ensuring your organisation is always in full regulatory compliance.

To understand just what SumTotal’s solution provides, try a free personalised Payroll Management demo. Your payroll team will thank you.

 

 

 

 

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