£250K
Midven backed the HR tech platform to help fund the development of its new payroll system.
"Over the last three to five years, we’ve noticed a shift in where payroll sits in terms of responsibility. Increasingly HR is becoming responsible for managing payroll rather than finance and ensuring details are not only accurately provided when an employee joins but accurately maintained when circumstances shift during their time as an employee. Many organisations face the challenge of running these two systems in isolation, which causes risk and complexity. At its worst, this can result in employees being paid the wrong salaries into the wrong bank accounts or even businesses continuing to pay employees once they have left the business. Being able to respond to the growing demands of our clients is thanks to the funding we received from Midven. It is clear that eliminating the risk of payroll related mishaps, as well as having a central system on which data can be added, edited and managed – and one system that speaks to all departments involved – was very much in demand. Whilst some other software platforms offer the ‘add-on’ of payroll, this is very often a third-party system with a different interface and, if they are lucky, a synchronisation process running in the background but this still presents interface and usability challenges. Ours is fully integrated and designed by our team of developers who devised our original HR management software from scratch with the same simple and logical look and feel as Natural HR meaning no new interfaces to learn and an employee is only added, changed or removed once whilst still integrating fully with your approval processes! We recognise not all HR professionals are ‘finance trained’ so we’ve ensured the function is accessible and straightforward."
