How new technology can improve your company's payroll processes
Posted: December 18, 2023 | Word Count: 795
Generative AI is in the news nearly every day, and currently the most talked about topic in the world of technology. According to Forbes, well over half (64%) of business owners think AI will help benefit relationships with their customers. If you run a small to mid-sized business, you may be wondering how the latest groundbreaking developments in AI technology could help you better manage your company. One area you may not have considered is your payroll system.
While you may know how time-consuming certain payroll tasks can be, it may not be clear to you how AI — specifically generative AI — could streamline these processes. Using AI could actually save time and money while improving the experience both for you or your staff who manage payroll, and the employees who rely on it.
What is generative AI?
This widely used subset of AI uses algorithms to produce new content, data or outputs autonomously, and can be "taught" how to automate a variety of complex systems. Generative AI is "trained" by being exposed to large datasets of existing examples. The AI model then analyzes data to identify patterns, correlations and structures.
Once trained, Generative AI uses these patterns to create original content while maintaining consistency with what it learned. Common generative AI examples include writing assistance, chatbots/online agents — and payroll processing.
AI-powered chat-based assistants are one versatile tool that can engage with customers and streamline interactions. GenAI-powered chatbots can comprehend and respond to customer questions in natural language, offering real-time support and assistance while freeing up human resources for more complex tasks.
But chatbots can do much more than just answer simple customer questions. Generative AI chatbots can also streamline vital HR and administrative duties such as a company's payroll and taxes. With Roll by ADP, you can also feel confident that there are guardrails in place to ensure safe interactions between users and their Gen AI features. Insights are drawn from ADP's deep knowledge database, so small business owners can seek personalized guidance on managing and growing their business through an intuitive, chat-based conversation right from Roll.
Here are a few ways automating payroll processes using AI can improve your business.
Ease of use for payroll admins
Which would you or your payroll administrator prefer: spending hours on spreadsheet formulas and manual calculations, or running payroll in under a minute?
If you think the latter, Roll by ADP offers AI-powered payroll solutions that let you run payroll from your pocket on any device, whenever it fits into your busy day. All you have to do is type the word "payroll" into Roll's payroll app for small business, and it will take you through the rest.
Simple user interface to answer employee questions
No matter the size of your business, employees always have questions about their pay, such as, "When is the next payday?" "Can I make changes to my withholding?" "How do I see when I'm getting a deposit?" "When was I last paid?" or "When will the money transfer into my account?" Using the AI-powered app makes it simple for employees to get these kinds of questions answered quickly, 24/7/365.
You or your payroll admin may also have questions, including: "How much did I pay employees in 2022?" "What information do you need for a new employee?" "Can I edit a payment I submitted?" or "How can I check the account that was set up for deposit?"
These and many more questions from employees and those running payroll can easily and quickly be answered using the Roll app.
Accurate processes — from payroll processing to compliance
Roll's powerful solutions are built on the foundation that innovation should simplify business operations. Their AI-powered payroll solutions integrate cutting-edge technology that doesn't just transform the way you pay your team — it changes the way your business thrives. Features include:
- Automated payroll processing that swiftly calculates salaries, taxes and deductions.
- Predictive insights allowing you to address potential issues before they snowball into bigger problems.
- Personalized employee experiences that enhance transparency and trust.
- Improved operational efficiency thanks to reduced administrative overheads.
- Accurate compliance in line with ever-evolving regulations, drawn from ADP's deep knowledge database.
This payroll app is designed to be easy and seamless, so business owners can run payroll by just saying something like "Run my payroll."
"Roll is designed with a simple conversational user interface that's very intuitive, so you can run your payroll by just chatting with the app," said Roberto Masiero, senior vice president of Innovation at ADP. "GenAI came as a transformative technology that can make our products better, so every single area of ADP is being rethought. Everybody now has access to this ground-breaking technology."
Ready to make your payroll system easier to run? Sign up for a free trial today at RollByADP.com.