Payroll: Time to Fix an Error

Chances are, many CFOs, controllers, and finance managers would say that their payroll processing, as a whole, is cost-effective, efficient, and timely. They’d probably also say that the three underlying processes—“report time,” “manage pay,” and “process payroll taxes”—deliver the level of service quality needed to keep internal business customers happy.

This article reviews the metric “cycle time in business days to resolve a payroll error” in three different peer groups: organizations with less than 1,000 employees, organizations with 1,000 to 9,999 employees, and organizations with 10,000 or more employees.