Are your employees afraid they’ll be replaced by technology? Are you sure? A global survey found that 47% of financial services employees
believe technology puts their job at risk. As an employer, it’s your responsibility to help them understand their place in a technology-powered future.
Despite fears perpetuated by dystopian novels and sci-fi films, technology is not the enemy. New tech tools can actually make your employees’ jobs easier and bring deeper job satisfaction. Accounting and payroll software is at the forefront of a software revolution that makes people more important than ever: as data analysts and strategic advisors – and that includes Microsoft Dynamics® GP Payroll with affordable add-ons.
Easier Data Collection
Collecting information is a major task of any payroll or human resources department. Although it’s routine, it can be challenging and stressful for your employees. They’re constantly under pressure to meet the rules of the IRS, ACA, FMLA, FICA, plus those that are specific to your company.
New technology takes the burden of data collection off your employees. When systems are automated, your staff knows the software is always working in the background to gather every piece of necessary data.
Reduction in Errors
Not only does software make it easier to collect information, it also makes it far more reliable. Tech tools don’t make human errors – in fact, they can catch and correct them.
For example, take incorrectly paid earnings. When a mistake is made on an employee paycheck, it can take up to 17 individual steps to correct the problem in Dynamics GP If the mistake happens for multiple employees, multiply the amount of time and cost it takes to get things back on track.
A tech solution vastly simplifies this process and reduces the resolution time. To continue the example above, if the paycheck mistake was an over-withheld health insurance deduction, software can easily fix the error and generate a negative deduction transaction report that shows the status of both modified and unmodified accounts.
Reliable Data Analysis
After the tech tool has begun managing your company’s data, where does that leave your employees? It leaves them with several important roles: monitoring, strategizing, and advising.
Monitoring: Your employees must ensure that the software is using correct information to update systems and generate reports. If the wrong data is being fed into the software, it will provide incorrect calculations. Garbage in, garbage out.
Strategizing: As your company begins to rely on the technology, your accountants and payroll clerks can begin to understand the process and see where opportunities lie. Perhaps there are efficiencies you’ve never been able to take advantage of before.
Advising: When the technology is running smoothly, your staff can begin advising top management about the results with detailed data and helpful reports.
Software also improves communication and keeps payroll and HR processes moving, even when your staff is on vacation. Sensitive documents can be sent through confidential, encrypted emails that preserve security no matter where your employees are located.
Enhanced Productivity and Profitability
When your company invests in technology and integrates it into company procedures, it can have a positive effect on productivity. Payroll processing is faster and less frustrating. Redundancies are minimized. Data loss is rare or absent.
New reports generated by the software can enlighten management about persistent issues like payroll errors, overpayments, resource waste, and employees who are ignoring crucial protocols. You can implement new rules to manage costs, like setting an overtime hours limit in the software to prevent labor overages.
In fact, if new technology is integrated into the organization properly, employees will welcome it. One study found that technology allowed workers to stop depending on recalling things from memory, reducing their stress and allowing deeper job satisfaction. The study’s authors recommended these four things to help welcome new technology into a work environment:
- Implement new technology with proper guidance from management
- Provide proper awareness around the company
- Be prepared to justify the changes
- Train people how to implement the new technology themselves
Ready to welcome some easy, affordable add-ons to your Microsoft Dynamics® GP Payroll system to your company? We can help ease the burden on your systems and your people.