Recognising the significance of selecting the right tools for business success is common knowledge, yet payroll systems seem to have been overlooked. Currently, nearly one-third of businesses are operating with payroll systems that have surpassed a decade in age, leading to a myriad of challenges in managing their workforce payments. As we step into 2024, a fresh start for businesses, leaders are gradually acknowledging the need to revamp their payroll processes, ensuring their organisations are well-equipped for the evolving future of work. In this pursuit, business leaders are turning to mywage for innovative solutions.
Trends influencing business leaders decisions
With more focus being placed on financial empowerment and monetary visibility in recent years, business leaders are looking to stay ahead of the curve and implement capable payroll systems that cater to this. mywage stands out with its extensive range of reports, fueled by game-changing AI driven data insights readily available at your fingertips. This unparalleled transparency means your workforce can easily identify trends, spot potential issues, and make data-driven decisions.
Employee self service
This comes under the umbrella of employee empowerment. Self service equips your workforce with the tools they need to access, view, and take control of their personal information. mywage serves as the one stop platform that gives your workforce the tools to do exactly that. Business leaders are actively seeking features like this to foster trust amongst their staff, ultimately enhancing retention.
Integrated systems & data centralisation
Businesses require a centralised hub to house their entire employee dataset. Sifting through information stored in a variety of ways from multiple sources is tedious and time-consuming, hence the trend of seeking for a single source of truth. mywage acts as the single data source businesses need for all their payroll and HR needs. With payroll, invoicing, and HR stored into one platform, manually navigating different sources to find employee information becomes a burden of the past.
Why are business leaders seeking new solutions?
Currently, payroll solutions do not support the flexible workforce. Systems are unable to handle the volume and complexity of shift and gig work, given the lack of scalable and configurable solutions on the market. Off the shelf legacy systems lack the tools to keep up with the ever-evolving intricacies of the staffing and recruitment industries, posing significant challenges for these companies. Business leaders have struggled to find an easy way to modify any payroll system to address and overcome these problems – until now.
So – why mywage?
mywage is leading the payroll revolution with the world’s first Salesforce-powered payroll solution serving the flexible workforce. By offering payroll, billing, and HR in one comprehensive platform, we are reducing the number of systems that a company needs to use to streamline their business into fewer platforms, thus reducing both cost and manual intervention in terms of passing data between systems. Unlike other payroll software solutions, we’re addressing how organisations want to work flexibly today, optimising the efficiency of handling the ever increasing volume of workers within the gig economy.
Having been in the shoes of payroll people, we understand the troubles they face on a personal level. We’ve had first-hand experience of the many challenges that staffing agencies and recruitment companies faced when dealing with payroll for employees and contractors. Every system we came across had flaws due to functionality limitations, and there was no easy way to modify any payroll system to cope with the evolving needs of these industries. As a result, we made it our mission to build a transformative solution from the ground up.
Ultimately, business leaders are choosing mywage because our solution is future-proof. We keep back office processes efficient and modern with the use of AI & automation. With our scalability capabilities, we can easily adjust to any increase of workers, changes in shift patterns, and legislative changes without compromising performance. Discover our solution today.