Embracing Automation: Streamlining Payroll Processes for Efficiency

Learning Objectives

• To know about the benefits of payroll automation.
• To identify which aspects of the payroll process can be automated.
• To identify which departments are affected by payroll automation.
• To perform a cost/benefit analysis on payroll automation.
• To conduct an internal audit to ensure that payroll automation is accurate.
• To identify which internal company systems can be integrated.
• To identify alternative processes if payroll automation isn’t available.

Course Description

This course is valid up to December 31, 2024, for CPP and FPC Professionals. It is advisable to complete this course before that to get the credit on time.

Handling payroll can be a cumbersome task! In order to be able to process payroll more accurately and efficiently, certain processes can be automated. This will save time, money, and headaches as well as allow for auditing processes to be put into place. It should be the goal of every payroll department to automate as many processes as possible.

A company can benefit from automation, integration, or an alternative process to manual input as typically the pros tend to outweigh the cons. Through the use of automation, companies can mitigate the risk of payroll errors which can be costly. It can also allow payroll professionals to spend time analyzing the data rather than inputting it. 

In this online webinar, speaker Aaron Riedthaler will give an overview of automating certain payroll functions. Payroll automation involves streamlining the payroll process by utilizing technology to handle tasks such as calculating net pay, taxes, deductions, and payments accurately. Automated payroll encompasses aspects like direct deposit of net pay, tax calculations (federal, state, local), garnishments, and third-party payments. It impacts departments like Human Resources, Finance, Risk, Legal, and the C-Suite. Conducting a cost/benefit analysis helps evaluate the advantages. This entails considering integration with internal systems like HR, timekeeping, and finance systems. Regular audits are crucial to maintaining accuracy, especially when introducing new processes or variables, aligning with the principle of prevention overcorrection.

Join this CPE Payroll Webinar it will give you tools and tips to automate your payroll setup, payroll processing, and payroll-related payments. 

This course covers the following Major Topics: 

• Payroll automation
• Internal audits
• Internal systems

Overview

• What is Payroll Automation

  4 mins
• Benefits of payroll automation

  13 mins
• What exactly can be automated?

  19 mins
• Parties affected by payroll automation

  27 mins
• Data validation

  39 mins
• The future of payroll automation

  45 mins