Payroll is one of the most critical functions within any organization. Simply put, if your people aren’t getting paid, your business is going nowhere.
Payroll is about more than just paying employees, though. There are many areas within a business that payroll has a huge impact on. Cash flow, productivity, operational success, and even company culture — they’re all influenced to some degree by the quality of your payroll function (or, for some, lack of)!
It’s understandable that some organizations pay little regard to their payroll function beyond ensuring that it’s at least workable, though. After all, it’s no secret after all that it can be a cumbersome function not only to set up but also to manage and maintain. And, at the end of the day, its sole function is to pay money out.
Why you need a solid payroll system
Alas, there are many benefits to be had from ensuring that you’re operating with a well-managed payroll system that’s backed up by the latest in technology and software:
- It helps to strengthen your reputation: Any organization’s reputation is built on trustworthiness, stability, and security. A solid payroll function helps prevent fraud and maintain compliance.
- It improves employee engagement: Employees who are underpaid, paid late, or not paid at all will feel undervalued and unappreciated, even if it’s unintentional. This is likely to disengagement.
- It optimizes the use of resources: Managing payroll can be an unnecessarily time-consuming task. By having a reliable solution on your side, the entire payroll function can be streamlined to ensure optimized use of resources.
- It ensures 100% compliance: You must ensure that you’re paying your people the right amount of compensation at the right time. A failure to do so can leave you wide open to official action, even if it’s a one-off, accidental occurrence.
If you’re a finance manager, however, you’ll already know this; digitization has been transforming the payroll function for years. What you might not realize is that, as finance, HR, and other critical areas continue to converge, there are other solutions out there that are better equipped to help finance and HR teams work together to overcome common payroll challenges.
FourVision Payroll Interface for Dynamics 365
One of these is Microsoft Dynamics 365, which you might have already implemented as your organization’s core enterprise software solution.
While Dynamics 365 is a solid piece of software, we’ve developed a wide range of add-on solutions that help to take it to the next level. One of these is our Payroll Interface, a comprehensive integration between your payroll function, HCM, and the Dynamics 365 environment.
FourVision Payroll Interface is a highly configurable standardized solution that integrates the Dynamics 365 API to support payroll processes to third-party payroll vendors without the need to maintain custom build integrations.
With FourVision Payroll Interface you can:
- Achieve seamless integration between D365, Payroll, and external providers.
- Add country-specific and legal payroll and tax requirements.
- Troubleshoot within the Interface to ensure expedited Payroll processing.
- Get solution-based troubleshooting when incorrect data is found.
- Maintain one source of data across your systems.
- Meet GDPR compliance obligations.
Interested in implementing the FourVision Payroll Interface within your own payroll function? Wherever you’re located, we’ve got an expert ready to consult with and support you as you transform your payroll processes—reach out to us to schedule a demo!