Payroll teams are being burdened with additional work and wasted hours in light of policy reversals, finds a new report.
According to Cloupay, with significant uncertainty still ahead, payroll professionals and accounting teams are going to need a flexible and global pay-system in order to reduce the need for manual calculations and payslip mistakes.
John Pearce, SVP Global Payroll Operations at CloudPay, explained, “With so much change across UK policy this year, payroll teams have faced a juggling act to keep up with the latest developments and subsequent repeals. Having already invested resources into planned increases in NI only to face a reversal of this in September, teams will now need to brace for the planned tax increases across the country.
“While this is certainly a less-than-ideal scenario, it does highlight the need for flexible pay processes that are under-pinned by technology and efficiency. Out-dated tech stacks that can’t be amended easily and quickly aren’t valuable during times of continued uncertainty.”