Adding Strategic Value to an ERP Software Sale
By Including Payroll Processing and Human Resources Solutions
How do you add value to an ERP sale aimed to set your offering apart from your competitors?
By including payroll and human resource services that integrate with your current ERP solution offerings, you can provide strategic value to your current client/prospect base in today’s competitive environment. Outlined below are some of the payroll and human resources functions that ERP prospects demand in today’s marketplace.
Payroll Processing & Integration
In many cases, payroll systems do not integrate with ERP systems out of the box.
Why? Because most ERP vendors do not provide robust enough payroll or human resource functions within their solution offerings.
However, when integrations or functions do exist, they are typically limited. In some cases, the integration is simply not flexible enough to meet the needs of each client/prospect’s specific requirements. Because of this, some ERP users are forced to rekey data from their payroll to update the general ledger files within an ERP system on a regular basis.
In some cases, payroll systems are challenged in processing taxes, earnings and deductions which could lead to a whole host of issues such as:
- Incorrect tax filings
- Filing taxes past the deadline
- Exposure to fees and penalties
- Employees’ final pay
- Levied by the IRS
With all this said, there are some payroll systems readily available which hold the necessary integrations to seamlessly handle the general ledger data for your clients.
The management of workforce payroll is not easy to do if you’ve outsourced it entirely, or if you’re using a separate system apart from your Human Resources Management System (HRMS). The very D.N.A. that payroll is made up of includes data from employee benefit selections, time and attendance history, bonuses earned from performance management and […]Read More >
Did you know that there is a rising trend within workforce benefits that includes supplementing traditional employee retirement options such as 401k, 403(b) SEP and more with a Health Savings Account (HSA)? According to Fidelity Investment Research, an HSA can add an additional $119,000 in retirement savings for employees. However, many employers and employees still […]Read More >