Payroll’s progress: Technology having massive impact on industry
The technological revolution has resulted in a makeover for the payroll industry.
“The days of employees wanting to get their check stub on a Friday and take it to the bank have kind of gone away,” said John Feaman, president at Integrated Payroll Services, or IPS, a payroll and human capital management services business headquartered in Delafield.
Payroll systems have been changing rapidly in the wake of a technological push toward a more mobile and data-driven society, along with a shifting legal and political landscape, according to Feaman. He said both employees and employers are now often looking for more advanced, streamlined, and comprehensive ways to work with payroll and other related systems.
“Instead of traditional payroll, we’re also handling benefits administration, electronic on-boarding” and more, said Feaman, who noted workers are more accustomed to conducting their lives electronically and administrators prefer not to monitor and work with different systems for various areas of employee management.
“H.R. professionals are liking it and employees are definitely demanding it,” he said.
Feaman’s father, Larry Feaman, had a background in the payroll industry. He started IPS in 2010 with John Feaman and his brother, Pete, who are both certified practicing accountants, along with their sister Leslie. Another sister, Sarah, joined the firm last fall.
In recent years, Feaman said the company has added a series of human capital management services to the business suite, and is structuring systems in the cloud to allow access from all locations.