Larger companies are shifting towards more efficient and streamlined payroll processes today. Here's why:
- Teams are constrained and are looking for greater efficiencies through technology-first solutions
- Need for greater control over financial data
- An increased desire for payroll automation, to get rid of tedious, human-led tasks
- The demand for flexibility
Meanwhile, the scope and breadth of Finance and People team responsibilities have significantly expanded in the past few years. And larger companies now want to develop payroll processes that fit around their company's priorities. They realise that forced deadlines, redundant duplication, and unhelpful urgency distracts them from what matters most – their business and their people.
Improving efficiency and productivity by switching to in-house payroll software solutions like Pento offers a range of benefits and advantages over traditional outsourcing models. Pento can easily integrate with accounting, HRIS or ERPs, making it a flexible and versatile solution that considers all evolving business needs. The breadth of integrations also provides flexibility and options to companies to switch parts of their People and Finance stack over time as their needs evolve.
One of the primary benefits for larger companies of using Pento is the ability to gain complete control over payroll data and processes. Finance teams can now easily create and manage financial journals that are granular enough to allow for complex financial reporting and analysis. As businesses grow in size, they often grow in complexity. And the time spent manually working and resolving inaccuracies of granular payroll journal dividends can be repurposed for diving into and sharing financial insights. Pento offers real-time variance reports, which allow companies to track and analyse payroll data over time.
Another critical advantage of Pento is its level of automation and integration. Automated payroll processes can save businesses significant amounts of time and reduce the risk of errors, which can be financially costly and generate frustration among employees. With Pento's best-in-class HRIS, HMRC, Pensions, and accounting integrations, larger businesses automate processes such as updating salaries, handling taxes, pro-rata pay and pension contributions, and issuing payslips – basically, the manual, time-consuming and error-prone tasks.
Building on these advancements in payroll technology, the integration of cloud-based solutions represents a significant leap forward. In the rapidly evolving world of payroll management, cloud-based solutions like Pento are at the forefront of innovation. Embracing cloud technology not only enhances the scalability and accessibility of payroll systems but also ensures robust security and compliance with evolving regulations. This is particularly vital in the complex regulatory landscape of payroll processing.
Furthermore, we've ensured Pento's user-friendly interface is accessible to all businesses and people with varied payroll knowledge. We make it easy for small People or Finance teams to manage payroll effectively, but we're also with you when you're scaling up. Pento can be accessed from anywhere, making it ideal for remote and hybrid teams; easy access to data and our world-class onboarding and support team can customise your Pento account for your specific needs.
Ultimately, switching to an in-house payroll solution like Pento is about gaining greater control and efficiency over payroll processes. Larger businesses have recognised the benefits of a solution that offers automation, time savings, and data control and are increasingly turning to Pento to meet their payroll needs. By doing so, teams who use Pento have reduced time spent on menials tasks, removed frustration, streamlined processes and released valuable resources to focus on more strategic initiatives.
Whether you've got 20, 200, or 2000 employees, Pento is the flexible payroll solution of your dreams – or put another way, once set up, you'll barely need to think (read: worry) about payroll.