CFO Digital Innovation: Drive Automation with Payroll and HR Software

As the digital innovation journey continues to reshape the business landscape, CFOs stand at the forefront of this evolution. With your leadership, implementing a payroll and Human Resources Information System (HRIS) will drive the integration of HR automation.

Digital innovation within finance has traditionally focused on core processes like procure-to-pay, order-to-cash, and record-to-report. Payroll is often outsourced or siloed into an HRIS platform. However, as technology evolves and integrates into operations, opportunities exist to drive digital innovation throughout all business functions, including human resources (hire-to-retire).

Implementing a robust payroll and HRIS system automates tasks such as payroll processing, employee onboarding, and performance management. This automation not only enhances efficiency but also minimizes errors while providing you with trusted HR solutions.

HR software like isolved provides valuable data analytics that can inform decision-making while implementing a comprehensive managed payroll system. CFOs can leverage these insights to identify trends in employee performance, turnover rates, and recruitment effectiveness. This data-driven approach enables better resource allocation and helps in forecasting future workforce needs.

At RKL Virtual, we work as HRIS / payroll consultants in partnership with CFOs, business owners and HR leaders. CFOs play an integral role in driving:

• End-to-end digital transformation — When HRIS, payroll and financial platforms integrate seamlessly, efficiencies and collaboration in your back-office environment accelerate.
• More timely, accurate reporting — The thoughtful integration of systems opens new possibilities for greater organizational insights. This integration eliminates duplicate data entry and enables advanced reporting and analytics across payroll, people, and financial data.
• Real time-savings — Integration saves up to 550 hours per year in administrative tasks. Payroll and HR software automation significantly reduces administrative burdens, allowing your team to focus on strategic initiatives.
• Change management — Although the path forward seems clear, challenges like resistance to change and skills gaps remain. With your influence, you can drive the investment in training and reskilling your team for a more automated future.

As a CFO, your proactive engagement in driving automation in HR through payroll and Human Resources Information System (HRIS) integration is crucial. This next step of financial transformation is not just about improving the finance function; it’s about leveraging technology to create a more integrated, agile, and forward-thinking organization.

At RKL Virtual, we help finance and HR leaders navigate their digital transformation. Our HRIS / payroll Solution, powered by isolved, offers best-in-class, seamless HRIS and payroll technology, paired with implementation and advisory support from our HRIS advisors. To learn more, contact me or fill out the form below to connect with an advisor.