The benefits of moving to electronic payslips

The benefits of moving to electronic payslips

Technology is always advancing and working habits are constantly changing, including the way people are paid and receive their payslips, P60s and P11Ds.

Most people are accessing a number of different pieces of information from their mobile devices, such as banking to managing emails and even making online purchases, so why wouldn’t we also receive our payslips digitally too? With this in mind, a number of employers now look for payroll providers who offer portal or smartphone access to payroll information. In fact, our recent SME Barometer highlighted that over half (54%) of SMEs are looking to increase digitalisation within their business in the year ahead.

Sarah Ashton, Partner, looks at five reasons why businesses should consider moving to electronic payslips below:

1. You can be confident that sensitive employee data is always safe

Electronic payslip software offers a fully secure online platform that features Secure Sockets Layer (SSL) two-factor authentication and even encrypts documents to ensure the highest level of security.

2. You could reduce costs and save resources

Stationery, printing and postage costs become a thing of the past. The electronic process is simple and cost effective. It’s also worth bearing in mind the environmental aspect of reducing unnecessary paper use too. Environmental, Social, and Governance (ESG) is becoming an increasingly important factor as the UK continues on its net-zero carbon path.

3. Employees will have the flexibility to access their payroll at any time

Payroll information can be accessed online via any preferred device. This will ensure staff never lose a payslip, P60 or P11d.

4. Electronic payslip platforms help you stay compliant

E-payslips meet General Data Protection Regulation (GDPR) requirements and offer a clear audit trail. They can also provide auto-enrolment and ad hoc communications as well as automatically deliver company branded P60s and P11Ds.

5. Users can control their account details

Employees can make username and password changes themselves. They can even securely perform their own account recovery.

With more companies offering electronic payslips, this is leading to the demise of the paper payslips. It is important as an employer that you keep pace with employee expectations by updating how you are processing payroll to ensure you are using the latest technology available to make payroll information as accessible, simple and easy to understand as possible for your staff. This improves the employer and employee relationship, saves time and increases service provision. Crucially, utilising the latest cloud-based technology helps safeguard against data breaches or loss.

If you’d like to know more about the benefits of electronic payslips and how they can improve your business and employee peace of mind, please get in touch with your usual Azets advisor or a member of our specialist Payroll team.