Is it a good time to change your payroll system?

Modern businesses are under constant pressure to adapt in order to stabilise or survive. Identifying and improving inefficient processes is the key to cutting unnecessary costs and relieving some of the financial pressure. We believe that payroll is one such process that can be significantly improved in many businesses. A robust payroll system can lead to better management of your other resources. In turn, this leads to your business being in a better position to survive and thrive.

“Payroll in the cloud is not the future; it is here. MYOB Acumatica Payroll is thriving. Software in the cloud has enabled employers to pay their employees anywhere, anytime, with ease. The future is now.”

– Julia Padginton, Senior Payroll Consultant at Kilimanjaro Consulting

Businesses are more willing to adopt existing technology that they were not widely used before. There is increased confidence in operating in an online space, and concerns about data security and operating in the cloud have subsided. What we have found is that migrating operations and data to the cloud is a natural and logical step that many businesses will undertake in the future.

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What issues might I be exposed to with an out-of-date payroll system?

With improper payroll practices or resources, businesses can become exposed to compliance, fraud and other sources of risk. COVID-19 has only heightened this threat as focus is shifted elsewhere in the business. Out-of-date payroll systems struggle with many requirements of modern companies, such as:

• An inability to handle the complexities of awards and work rules
• Difficulty managing different pay cycles
• Inflexible technology platforms
• No automation for leave requests and approval

Payroll processes should be constantly developed and optimised to improve efficiency and compliance, and limit risk. Employee knowledge and training of your payroll system plays a significant role in its effectiveness, especially when working within a system that relies on manual input. Staff reductions in response to the pandemic can expose gaps in critical areas of a company’s payroll process.

Visit our Payroll Training page here

What can enterprise level payroll programs do?

High functioning payroll systems, such as MYOB Acumatica Payroll (formerly MYOB Advanced People), are suited to the complex requirements of modern growing businesses. The technology allows the open flow of payroll information, reducing duplication of effort, manual data entry, and provides real-time business information. Some of the features of MYOB Acumatica Payroll include:

• Customisable leave entitlements and custom leave types
• Sophisticated Employee Self Service features, that help automate leave requests and approvals
• Capability to include multiple pay cycles, frequencies, and groups
• Automatically updated tax and superannuation rates, to aid in industry compliance
• A cloud-based platform that allows for incomparable accessibility, including via mobile phone

Implementing MYOB Acumatica Payroll in your business can also lead to further efficiencies when integrated with your ERP system. MYOB Acumatica Payroll integrates seamlessly with MYOB Acumatica allowing a “single source of truth” for your data. This in turn leads to a reduction in administration and smoother workflows across all functions of your business. However, MYOB Acumatica Payroll can also be used as a standalone platform, meaning that it can run alongside your existing MYOB Exo system. The cloud-based platform removes the need to pay for and maintain complex on-premise servers or a data centre. All you will need is a web browser and an internet connection to access the full scope of real time information, whenever and wherever you want. The entire MYOB Acumatica suite is hosted on the world’s leading cloud IT infrastructure – Amazon Web Services (AWS). AWS provides a high performing and robust application that stores your data across multiple devices in multiple availability zones for added security.

Payroll How bringingHow bringing people and payroll together can help streamline compliance eBook people and payroll together can help streamline compliance eBook

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Booster takes advantage of modern, cloud-based payroll software

Booster decided that they needed a new system to streamline their payroll processes and better support their organisation’s growth. As their trusted and experienced implementation partner we were able to offer early access to New Zealand’s newest payroll specific module of MYOB Acumatica – MYOB Acumatica Payroll. Booster now leverages both MYOB Acumatica Business and MYOB Acumatica Payroll in one integrated system and the team is not looking back.

Read more about their efficiency improvements following their MYOB Acumatica Payroll Implementation here.

Businesses are more ready and able to adopt new online technology in the wake of the COVID-19 pandemic. Without a suitable focus, out of date payroll systems are liable to become a source of risk for many businesses in the future. MYOB Acumatica Payroll is a robust and powerful cloud-based platform that can handle the complexities of modern organisations.

MYOB Exo Employer Services: End-of-Life Announcement
MYOB has announced that MYOB Exo Employer Services (Exo Payroll) will reach its End of Life in November 2025. No pay runs can be processed in MYOB Exo Payroll after the end-of-life date. You will still have access to a read-only scenario for historical purposes.
As a result, you should explore alternative payroll solutions to replace your old solution. To continue managing your payroll within the MYOB software family, consider MYOB Acumatica Payroll – a powerful and secure system based in the cloud.
The Kilimanjaro Consulting team are experts in migrating organisations from MYOB Exo Employer Services to MYOB Acumatica Payroll with our flawless data migration workflow. Contact our expert team to assess your requirements and discover how MYOB Acumatica Payroll can safely and securely support your payroll requirements. Email sales@kilimanjaro-consulting.com, call 1300 857 464 (AU) or 0800 436 774 (NZ), or book time for a chat here.

If you would like more information about MYOB Acumatica Payroll as a payroll solution for your business, contact sales@kilimanjaro-consulting.com or call 1300 857 464 (AU) or 0800 436 774 (NZ).