WHITEPAPER
Optimise your financial strategy with a new perspective on payroll
A bite-size guide for CFOs
Executive summary
Business priorities for CFOs may have altered in response to the COVID-19 pandemic, but one thing is clear; resilient business continuity plans have payroll at their core. Agile financial leaders realise that payroll is business-critical, prioritising investment in technology and automation through SaaS or outsourced solutions. It’s essential and timely to review the value you gain from your existing payroll operations and harness the potential of this often-untapped resource. If payroll is more of an afterthought within your organisation or board, it’s time for a new perspective.
This whitepaper explores the opportunities of powerful, value-driven payroll solutions that provide business intelligence to underpin sustainable financial strategies. It also reveals the hidden costs and risks resulting from poor payroll, including threats to business continuity, compliance and your organisation’s ability to retain a strong workforce that will help drive future growth.
Cost efficiencies from payroll
Always high on the CFO’s agenda, have you considered where revenue could be slipping away through current processes and how to prevent this? Savvy CFOs know that payroll cost efficiency isn’t simply a cost-cutting exercise; it’s about optimising processes and working to leaner principles whilst enhancing the employee experience.
A SaaS payroll solution offers access to a maintained in-house platform on a subscription basis. With a fully managed (outsourced) solution, you hand the majority of the payroll function over to a provider that contractually agrees to deliver one or more HR or Payroll services in accordance with defined service levels and work volumes. When your payroll teams are relying on outdated or legacy technology, the business risks increase....