Imagine a world where data flows seamlessly between your payroll, HR, and accounting systems. No more exporting, importing, or manually re-entering information. Full reports can be generated with a click, budgets can be easily planned, and deadlines are met on time effortlessly. If this sounds idyllic, it’s not. If your organization is struggling with disconnected systems, there may be a multitude of underlying risks that can hinder growth and profitability.
Running separate payroll, HR, and accounting systems might seem like a cost-effective solution for smaller businesses. Yet as your organization grows, the cracks in this fragmented approach will start to show. Silos of data create more work, more stress, and, ultimately, more risk.
This article dives into the 10 biggest risks associated with siloed systems and explores how integrating these functions with software solutions like Sage Intacct Payroll can help transform your operations. Review the 10 risks—along with potential solutions—below.
Murky Data Visibility
Juggling multiple systems can mean murky data visibility. Imagine reconciling payroll data with HR and accounting manually—a recipe for potential errors and missed insights. Integrated systems offer a single, transparent view of your overall financial health.
Ballooning Budgets
You need a solution that’s affordable now but can scale with your organization. For example, outgrowing QuickBooks and its limited reporting capabilities can lead to costly upgrades and data migration headaches. Sage Intacct offers a flexible solution that can scale with you.
Bogged Down in the Mundane
Manual data entry, exporting reports, and battling spreadsheets—these mundane tasks can drain valuable time and resources. Integrated systems automate repetitive processes, freeing you to focus on more strategic initiatives.
Frustrated Employees
Inaccurate paychecks, delayed benefits, and administrative hassles can lead to employee dissatisfaction and high turnover. Integrated systems can help smooth payroll and HR processes, which can help improve employee morale and retention.
Failure to Plan
Without a unified view, budgeting for HR expenses can be a guessing game. Integrated systems use real-time data to inform strategic decisions and help you plan effectively for the future.
Missed Deadlines
Monthly close reports can feel like an agonizing sprint when data is scattered across systems. Integration helps streamline reporting, allowing you to meet deadlines with accurate, consolidated data with less manual effort.
Manual Mistakes
Manual data entry is prone to error and can be costly. Integrated systems can automate data transfer, helping to reduce human error and promote data accuracy throughout your financial ecosystem.
Support Runaround
Juggling multiple vendors for payroll, HR, and accounting systems can lead to support runaround. For example, your payroll vendor may ask for more information from your accounting system vendor before providing troubleshooting assistance, and so on. Sage Intacct can provide a single point of contact for all those needs, helping to simplify support and troubleshooting.
Uncoordinated Implementations
Disjointed implementations can be disruptive and resource intensive. Native integrations like Sage Intacct Payroll powered by ADP can lead to a smooth and coordinated implementation, helping to reduce downtime and increase efficiency.
Stuck When Scaling
While QuickBooks likely served you well when you were starting, its limitations can become evident as you grow. Sage Intacct offers robust software solutions that can scale with your organization, offering inclusive ways to overcome the limitations of an ineffective platform.
Break Free From Silos: Embrace Integration for Advancement
Don’t let disconnected systems hold back your organization. By integrating payroll, HR, and accounting functions, you can gain:
- Clear data visibility to help inform decision making.
- Cost-effective scalability that can adapt as the organization grows.
- Automated workflows that can free up your team for strategic initiatives.
- Improved employee satisfaction through a more streamlined experience.
- Timely and accurate reporting for better financial control.
- Reduced errors for improved efficiency and accuracy.
- Reliable support from a single provider.
- Streamlined implementations and native integrations that help reduce downtime.
- Agility and scalability to thrive in a changing market.
Ready to Unlock the Power of Integrated Systems?
Learn how Sage Intacct and Sage Intacct Payroll can help you streamline your operations, gain valuable insights, and unlock efficiency. Business Technology Solutions at Forvis Mazars is a certified Sage Partner. Our experienced team of technology consultants can help you transform your financial management processes to drive efficiency and growth. Contact us today for a complimentary consultation.