Payroll Hub is a centralized dashboard that automatically updates accurate payroll data in real-time. Payroll Hub provides a simplified, secure, and efficient connection between Bob and most payroll systems.
Instead of creating a built-in payroll system like many other HR platforms, we took a different route. As a modern HR platform built for mid-sized, multinational companies, we understand that payroll is an essential part of the employee experience and that there is no one payroll that fits all.
We believe that payroll systems do payroll best and therefore chose to build a payroll hub within Bob that provides a holistic view of everything payroll and benefits administration related while enabling you to validate and integrate with the world’s leading payroll systems. This way, our customers have the flexibility to choose the payroll system(s) that best suit their needs and change or add payroll systems as they scale.
Let’s take a closer look at why we chose to build Payroll Hub by exploring:
- What should your HRIS do for you?
- Why do payroll systems do payroll best?
- What is Payroll Hub?
- Comparing Bob and Payroll Hub to a standard HRIS with built-in payroll
Let’s jump right in.
What should your HRIS do for you?
Your HRIS should be the center of your HR tech stack ecosystem. It should provide you with all the tools you need to manage and automate HR processes throughout the employee lifecycle.
These include:
- Easily accessible data on all of your employees such as legal names, addresses, date of birth, marital status, number of dependents, salaries, and bank information
- A place to manage documentation such as people docs, contracts, and your company code of conduct
- Real-time people data on KPIs such as headcount, employee turnover, DE&I metrics, retention, and attrition
- Core HR tools for automating HR processes and employee engagement
- Time and attendance management
- Compensation management
- Performance management
As your single source of truth, your HRIS should contain your most updated people data. It should sit at the center of your HR tech stack ecosystem and play nicely with all of your other tools. When your HRIS is the platform for people data, you remove the risk of inaccurate, siloed information and reduce time spent on manual data entry.
This is super relevant to payroll—a notoriously data-heavy and painful process that must be done accurately. Your HRIS stores data that’s relevant to payroll, including new hires, terminated employees, and changes that impact employees’ salaries, such as merit increases and bonuses. If your HRIS already has this data, doesn’t it just make sense to integrate it with your payroll system and cut out data duplication and manual labor? Of course, it does. But, more on that later.
Payroll systems do payroll best
Just like your HRIS has its role, payroll systems have theirs. Running payroll and benefits administration and ensuring that each employee receives their correct salary every payroll cycle is a complex process. Every country, and even state, has its laws and regulations which impact payroll, and each employee has their own personal deductions, which determine their net salary. Payroll systems are designed with this in mind. Each system includes many fields that cover everything payroll-related, ensuring that the gross to net calculation is correct for every employee in every pay cycle.
Due to the intricacies of running payroll, there are many different payroll systems available. Some are localized per country, such as ADP Workforce Now (US and Canada), Paylocity, and Trinet. Some payroll systems also offer basic HR functionality, but these tools are secondary and cannot replace a full-suite HRIS.
Payroll systems are tried and tested and successfully enable millions of people around the world to receive their paychecks. For this reason, we believe that payroll systems do payroll best.
However, while there are many robust payroll systems that provide payroll services for employees in one or more countries, there is no single system that can support all employees worldwide.
Why Payroll Hub? Get the best of both worlds
If an HRIS is the center of a modern HR tech stack and payroll systems do payroll best, it only makes sense to create something that gives HR teams the best of both worlds.
As part of our mission to support modern, mid-sized, and multinational companies, we wanted to provide a payroll-agnostic solution that gives companies the flexibility to use the payroll and benefits administration system (or systems) that they choose without confining them to a single system built within Bob.
We decided to build Payroll Hub, which integrates with multiple payroll systems and enables customers to use the best payroll systems for their employees, wherever they are working.
Payroll Hub enables companies to:
- Centralize their people data
- Use more than one payroll system
- Keep using the payroll systems they are used to using
- Provide payroll services to global employees
- Add more payroll systems as they scale
Payroll Hub supports single-cycle and multi-cycle companies and integrates with multiple payroll systems and pay frequencies (monthly, semi-monthly, bi-weekly, and weekly.) So, suppose you are a multi-site company with multiple payroll cycles and multiple payroll systems. In that case, you can track everything payroll-related in one centralized location without the need to input data elsewhere.
Bob’s payroll integrations
Our mission is to provide an HR platform that sits at the center of your HR tech stack ecosystem. Just as Bob integrates with your favorite work tools, such as recruitment tools, developer tools, and team collaboration tools, Bob also integrates with your preferred payroll systems, allowing you to use those that best align with your company’s needs, within your flow of work.
Payroll Hub integrates with some of the world’s leading payroll systems, and there are more integrations to come in our roadmap.
Payroll Hub can also connect to other payroll systems not covered by our integrations through Payroll Connect. Simply add your chosen payroll system and follow the steps to customize your payroll reports according to the language used in each field by the selected payroll system.
Using Payroll Hub to sync payroll changes to the payroll provider
Traditionally, companies implement their HRIS to record employee updates and salary changes. At the same time, the payroll manager is responsible for reporting any payroll-related changes to the payroll provider, ensuring that payroll is processed correctly for the upcoming payroll cycle.
With Bob’s Payroll Hub, you can avoid duplicating employee data in your HRIS and your payroll system. The payroll admin can see all employee changes that impact payroll and simply review and approve them. Then, all changes are synchronized to each payroll system in a single click, saving time and reducing the risk of error.
Payroll: Bob vs. other HR platforms
Recommended For Further Reading
Payroll Hub: The place where Bob and payroll meet
As an HR platform built for modern, mid-sized, and multinational companies, we didn’t want to limit our customers to using a single payroll system built within Bob. Rather, we chose to integrate with the leading payroll and benefits administration systems worldwide, providing our customers with the flexibility to choose the payroll systems that work best for them and add or change payroll systems as they scale.
With Bob’s Payroll Hub, you get the best of Bob with the best of payroll.
Takeaways
- We believe in providing a modern HR platform for modern, mid-sized, multinational companies that includes all the functions for supporting employees throughout the employee lifecycle.
- We believe that payroll is an essential part of the employee experience and that payroll systems do payroll best.
- We didn’t want to limit our customers to a single payroll system built into Bob.
- We decided to build a Payroll Hub that would integrate with the leading payroll and benefits administration systems worldwide.
- We want our customers to have the freedom to choose the payroll system(s) that suit them best, change or add payroll systems, and scale with them as they grow.
