Almost half of those responding to a recent CA poll — some 48.9 percent of respondents — identified chasing clients for payroll data as the biggest pain point in their practice.
The survey also found that 24.9 percent of accountants struggled with onboarding and setting up new client employees, many seeing it as a source of friction. Rounding out the list were operational and technology factors such as switching between cloud solutions (16.9 percent).
Tim Amassah, partnerships account executive at software firm KeyPay, believes that automating frustrating, manual processes is a win-win for accountants and their clients.
“Antiquated, labour intensive manual cost calculations are a thing of the past,” he says. “Come the day of the pay run, it is simply a checking off process – eliminating repetitive tasks, saving them time and giving them hours back in their day to focus on more productive tasks.”
“Antiquated, labour intensive manual cost calculations are a thing of the past.”
Amassah points out that automation that integrates with other systems generating payroll information – such as HR and timekeeping software – offers real flexibility to advisors.
“Payroll is wide-ranging and ever changing in terms of technical and legislative requirements,” he says, “and it’s an area where a business must maintain compliance. Advisors need a modern and compliant solution that delivers consistency with every pay run.
“They also need something that can be easily implemented on behalf of their clients, configured to be as simple or complex as required, and a solution that caters for both salaried staff and casual shift workers across all industries and segments.”
While you can’t remove all the back and forth, there are ways to improve the process of collecting and processing payroll data.
Cloud-based solutions such as KeyPay use a completely paperless employee onboarding process, as well as incorporating timesheets, are great examples of how accountants can collect data digitally without having to manually chase them.
“No more waiting for client emails, sms messages or calls,” says Amassah.
The employee and employer experience is also vastly improved, cutting down on errors and delays, and giving employees self-service access for items such as proof of employment.
“Advisors can add more value for their clients without increasing their own workload,” Amassah says. “KeyPay does the heavy lifting and gives accountants and bookkeepers the opportunity to focus on making the most of their skill sets.”
Find out more:
For details on KeyPay’s payroll solutions, visit www.keypay.com.au