Five benefits of implementing integrated business solutions

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Benefits

Anton van Heerden

1. Reduce redundant data capture
   An integrated solution that brings payment, payroll and accounting functionality together, eliminates the need to recapture or manually import payroll data into the accounting system each month and then reconcile financial data with bank statements. That can save hours of work each month for the accounting and payroll teams, while also ensuring that the business always has up-to-date payroll information reflected in its financial systems.

2. Better visibility into business performance
   If companies have completely up-to-date payroll, HR and payments data flowing automatically to their accounting systems, they will have access to the reports and information they need for better planning, forecasting and budgeting. They will have insight into cash flow, human resource capacity and utilisation, and business growth they can use to optimise performance and plan for the future. Because there is no need to collect information from separate databases, reporting is faster and more accurate.

3. Fewer errors
   Eliminating the need to recapture data means that the possibility for human error to creep in is reduced. What is more, all of the company’s business systems draw their data from a single database, reflecting a single, accurate version of the truth. This creates trust in the business’s financial data and helps the business to avoid making costly errors in tax or payroll calculations.

4. Less paperwork
   Integrated payroll, HR and accounting solutions can help the financial and payroll teams to stay on top of the mountains of paperwork involved in managing the workforce. For example, if an employee updates his or her personal information in the HR system via employee self-service, the integrated payroll software should automatically update. This means less work for HR and payroll staff and fewer chances for data capture errors.

5. Platform for self-service and mobile working
   A modern, integrated business system, that draws together payments, payroll & HR and accounting, is a platform for more efficient ways of working. With accurate and up-to-date payroll and HR data available, employees can use employee self-service to access information about benefits, payroll, leave and expenses. They can even update their information themselves. This can save managers, HR and employees a great deal for time.

   This sort of environment also means that managers can get access to up-to-date business information wherever they are. They can monitor employee and business performance from their mobile phones, knowing that they have accurate information at all times to inform their decisions.

   As the global market leader of integrated accounting, payroll and payment systems, the organisation enables its customers to focus on their business and helps them to leapfrog to the future. An important element in this strategy is freeing entrepreneurs from the low-level admin and data capture so that they can focus on growing their businesses.