Traditional payroll systems often operate in silos, which can make data collation and analysis more complex, requiring manual handoffs. When there’s a lack of integration, data has to be manually transferred between systems. This approach can create challenges for HR and payroll professionals, increasing the likelihood of inefficiencies and errors. Other issues include data duplication, manual process errors, and a lack of one unified source of truth.

All of these factors mean that the time spent on payroll every month is significant. Data from HiBob and Pollfish shows that the time spent can range between one to five days for a smaller company with 50-200 team members, to more than 10 days for larger companies with 200-500 team members. Next-gen payroll Next-gen payroll solutions offer a far more seamless experience with data integration. They provide a single source of truth for all HR and payroll data, removing siloed information and ensuring data is consistent, accurate, and readily available. Furthermore, automated processes reduce the need for manual intervention, which minimizes the risk of errors and cuts down on time.