Payroll Benchmarks and Best Practices

Topics:
Analysis,
Audits,
Benchmarking,
Business Process Management,
Change Management,
...
Tags:
APQC,
Best Practice,
Finance,
Operational Accounting,
Payroll,
Payroll Solutions
Source:
APQC

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Overview: APQC has compiled data from numerous organizations to develop benchmarking data for the payroll function in accounting. This excerpt from APQC breaks down individual activities in the three main payroll processes: reporting time, managing pay, and reporting payroll taxes. Its research found that median cost per payroll payment is $6.50, with a $5.00 per payment difference between performers in the top and bottom quartiles. An organization with 10,000 employees and a poorly performing payroll function could save as much as $1.2 million per year by improving to the top quartile. The excerpt also analyzes data on shared service productivity savings.

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Format: PDF | Pages: 4

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