OneSource Virtual Blog

Most finance and HR leaders share a common goal: a truly unified system for payroll, benefits, and accounts payable. But poor data quality — including payroll data — costs companies an average of $12.9 million annually, according to Gartner. To avoid that risk, opting for a unified system allows companies to make faster decisions with better accuracy and reduced compliance risk.

Whether you're running a small business or managing HR for a large enterprise, one thing is the same: you have to pay your employees accurately and on time.

Data is everywhere. The companies that win are using the data they already have to make better decisions. Data-driven organizations are 23 times more likely to acquire customers, 6 times as likely to retain them, and 19 times more likely to be profitable, according to research by McKinsey.

You've automated invoices. You've automated payments. But if they're running in separate systems, or even separate workflows within Workday, you're still manually bridging the gap. Instead of working in a silo, Premium AP eliminates that final handoff by unifying the entire invoice-to-pay process.

Organizations with end-to-end AP automation can handle the same workload with 17% fewer staff, pay vendors 63% faster, and report 47% better cash flow management.

Accounts payable automation has become a necessity for finance teams looking to save time and reduce errors. Your invoices are digitized, and your approval workflows are automated — but if your AP process ends when an invoice is approved, your team is still doing manual work and leaving efficiency on the table.

With HR teams spending as much as 57% of their time on administrative tasks, strategic initiatives often take a back seat. This is far from ideal, considering how critical compensation management is to employee satisfaction, retention, and the success of your organization overall.

Payroll teams face a costly reality. Disconnected HR, finance, and payroll systems create data silos that lead to processing errors, compliance risks, and wasted administrative hours. But the Workday ERP system eliminates this problem by centralizing all workforce management functions on a single cloud platform.

In 2024, businesses paid $2.8 billion in payroll penalties for incorrect or missed employee payments — errors that help explain why one in three employees has quit a job over payroll problems.