Get payroll right with integrated payments.
Back in January, I wrote a blog post titled “Finally, a way to process payments from your payroll provider” about how our bulk payment app with file upload was cutting down the time it took businesses to pay payroll every month. Guess what, we’ve done it again.
Getting it wrong.
Timely payroll is crucial to keeping your employees happy and productive. And ask any founder about the impact staff happiness has on a business. On the flip side, a late payment is detrimental to morale and could start a cascade of financial problems for your staff, 40% of employees paid late cited this as a risk and after receiving their salary late, 25% of employees were less engaged and productive at work.
A 2019 study from the Chartered Institute of Payroll Professionals found that after being paid late, almost half of employees felt that their employer didn’t care about their wellbeing (48%) causing undue levels of stress and worry (47%). It doesn’t matter how much you love your job, getting paid and on time is a must, especially with prices soaring for… well everything!
Getting it right.
With numbers like that, it’s no wonder that payroll carries emotional pressure to get right. Add in the fact it’s fiddly and time restrictive and you have the recipe for a stressful month-end.
Anyone who has ever run payroll will have been stuck in the loop of downloading one of the hundreds of variations of payroll files, creating spreadsheets, sharing these with stakeholders, the back and forth swapping from software to software and, after all of this, someone having to finally log into the bank to actually make payments, often one by one!
Okay, time for my plug. What if, at the click of a button, payments can be pushed from your payroll system straight into your bank? Employee bank details, salary amounts and tax payments are all fed into your banking portal via an API. Amazing right?
Well, that’s exactly what we’ve done. Gone are the days of manually running payroll. Welcome to the future. Welcome to Comma.
How it works:
Ok, here’s the process!
- From within your payroll provider, let’s take KeyPay for example, click the embedded Pay with Comma button
- Sign in to your bank account using a biometric login or your PIN sentry (the way you always log in!)
- Review the payment run, select a scheduled payment date and share this run with any relevant stakeholder in the business for review
- Click pay, authenticate the payment and done
Time to actually enjoy the last Friday of the month for the first time in forever.
Ready to speed up your payroll process?
Find out more or come and talk to us on stand 150 at Accountex!
