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Completely manual payroll systems are obsolete. Not only are they responsible for higher rates of human error, but they also make your business less efficient. While we'll need accountants to look over payroll tasks, AI can simply make the entire process that much more streamlined.
Using AI is one of the best ways to eliminate payroll issues, either before they start or when they occur. Here are 5 ways AI can make your human resource (HR) department more efficient.
In many organizations, human resources and payroll departments are one and the same. If the department is small and there aren't enough employees that can truly focus on payroll, mistakes are inevitable. AI can cut down on human error simply by reducing the number of HR tasks.
After all, when you have more time to pay attention to payroll, HR staff are better equipped to catch inaccuracies before they become a problem. Tools like OnPay can avoid manual data entry errors at its source by integrating with Deputy, a scheduling and timesheet software.
Accumulating and parsing through the wealth of information involved in payroll processing requires a lot of time and energy. This approach makes it easy for staff to input inaccurate or incomplete data, and even if this inconsistency is found fast enough, it still takes time to fix it.
With AI and automation, payroll staff can streamline data management. Application programming interfaces (APIs) are adept at scheduling automatic data transfers to reduce time spent on manual labor. Now, all your payroll department has to do is double-check for accuracy.
In a perfect world, your HR and payroll staff would have someone available at all times to answer questions about payroll and tax slips. Unfortunately, your department is already busy enough as it is. Still, employees have to go to someone for queries, and that can cause severe bottlenecks.
Fortunately, AI chatbots can be programmed to answer common payroll questions. This can save your HR staff hours, even days, on answering questions that have easy, one-second answers. The right chatbot can even learn to answer more complex payroll questions in time.
Machine learning, a subsection of AI, is what made AI famous. With manual processes, payroll staff can only complete their tasks so fast until they start making more frequent mistakes. At that point, their quickness actually costs your organization more time and money fixing issues.
AI, on the other hand, can improve data collection and help with analysis. They're more capable of identifying irregularities, harmful patterns, and automatically implementing new processes. With the help of AI, you can identify potential errors faster than your human staff can quickly fix.
There's only so much time in a workday, and it's common for employees to take shortcuts when they're overwhelmed with work. In these times, AI can serve as an assistant. Instead of a strictly administrative process filled with redundancies, payroll functions transform into a strategic role
When payroll isn't punching in numbers all day, they're better able to look at the bigger picture. They can do what they can to deliver more value to your organization. Not only that, but they can look for new ways to adapt payroll processes and rules to achieve increased productivity.
From automating HR tasks to capitalizing on the benefits of a constantly learning system, AI is integral in eliminating inefficiencies in your payroll process. So what are you waiting for? Use AI today to improve your workflow, maximize productivity, and increase your overall profits.
