3 Key Benefits of Integrated Timekeeping and Payroll
Time is money.
We’ve been repeating this advice for so long that it’s become one of our collective values, but what does that mean for today’s enterprises? In the past, timekeeping and payroll have existed largely as a way to transact with your labor force. Time goes in, and paychecks go out.
But today’s business systems need to leverage data in a way that allows companies to respond to the shifting landscape of work itself—and to the evolving workforce.
Any efficient enterprise system—especially one that capitalizes on the ongoing digital revolution—is going to result in countless benefits for your company. Keep reading for a short overview of the most robust benefits of integrating your employee timekeeping software with your payroll system.
1. Motivate and Empower Your Personnel
The best time tracking software, especially when integrated with payroll, enhances employee access to real-time information and features. Your employees can log in to the system when needed and easily access information about payroll, available PTO and sick time, tax deductions, and even benefits. Then, they can make requests and changes as needed right from their portal. When you are transparent enough with important information that employees can answer questions for themselves, they feel valued by the company, which increases employee satisfaction and productivity.
Integrating time tracking and payroll also frees up your HR staff to spend their time and brainpower on more challenging and rewarding work, rather than bouncing between platforms to perform low-lift tasks. Without old time tracking tech standing in the way of your KPIs, your HR team can direct their energy to high-value functions like recruitment, performance management, and learning and development.
2. Strengthen Compliance and Accuracy
Speaking of employee morale, a survey from the Workforce Institute shows that 49% of US workers will leave a company after experiencing two paycheck errors, highlighting the importance of building trust at every level. Integrating your timekeeping and payroll software systems streamlines the process for your payroll engine to calculate time data, reducing the opportunity for error across systems—including human error.
When you enhance the integration process with time tracking software that provides automation and data validation, you’re providing your teams with a structured foundation built to reduce errors and fraud, and their resulting stress.
Labor cost is already the biggest expense of virtually every business. Adding fines for noncompliance, improperly calculated taxes, or employee overpayment to the mix is largely avoidable if you have the proper tools in place. Managing workforce compliance is a high-stakes area for every business, regardless of size or industry, but even more so for companies that must regulate duty hours to meet state or federal regulations.
3. Produce Actionable Data Consistently
Streamlining data entry for accuracy and efficiency means the added bonus of having good data to put to use—and hopefully teams with the time to analyze it!
Boosted by features such as automated time capture, which looks at the time actively spent in certain applications and logs it accordingly, smart timesheets integrated with your payroll system can help your team make informed decisions about personnel, project schedules, and capacity. Having an integrated analytics dashboard means you can use data to head off slowdowns and anticipate surges, preventing unexpected worker furloughs and expensive overtime that often results in employee burnout.
Journyx Integrates with Popular Payroll Software
Moving to a smart-tech solution for timekeeping and payroll means that you need to reinvent the wheel, but we’ve got that covered. Journyx’s time tracking software with analytics integrates with a number of existing business systems, including your existing payroll system.
Using Journyx with Microsoft Dynamics 365 business central payroll system allows you to transition smoothly to a powerful solution that supports your HR, finance, and operations teams seamlessly. If you are already using Quickbooks payroll, time tracking can get much easier when you enhance it with Journyx’s advanced automation, entry, and error elimination features.
To learn more about how Journyx can support you in creating proactive systems to scale your business practices, contact us today for more information and to schedule a customized demo.
Let’s Get Started. Book a Demo Today.
Journyx helps you track time for projects, payroll, and more. Learn how Journyx can help you use time to your advantage in your business.