Whether you love or loath technological advancements it’s hard to escape the fact that they’re here and getting ever more intelligent.
Richard George, Director of Education at Learn Payroll, is taking delegates through the ins and outs of the latest technology. According to figures from Deloitte, technology has contributed to the loss of 800,000 lower skilled jobs over the past 15 years but has created 3.5 million higher skilled ones.
Many businesses are already using technology to assist their payroll processes – whether it be with software or, in particular, using the Cloud – which removes the need for internal server space. Big Data is another phrase that many will be familiar with.
Borrowing the definition of Big Data from Gartner, George explains: “Big Data is high volume, high velocity, and/or variety information that requires new forms of processing to enable enhanced decision making, insight discovery and process optimisation.”
Looking ahead at the upcoming technology changes for payroll we are likely to see increased use of Artificial Intelligence within Big Data and more use of pattern recognition technology. This will lead to reduced errors, improve compliance, adoption of metrics and analytics and better support for different types of employment such as the gig economy.
