TechnologyOne ready for Single Touch Payroll (STP)
TechnologyOne (ASX:TNE), Australia’s leading enterprise Software as a Service (SaaS) provider, today unveiled its Single Touch Payroll functionality, offering a new, simpler way for customers to report employees’ payroll information to the Australian Tax Office (ATO).
Single Touch Payroll (STP) was introduced by the Australian Government for organisations with 20 or more employees, coming into effect from 1 July 2018. With the support of the ATO, TechnologyOne has adopted a controlled rollout for customers, enabling them to integrate STP into their business between 1 July 2018 and 30 April 2019.
TechnologyOne’s CEO Edward Chung says this approach minimises disruption on customers’ day-to-day operations, by extending the STP compliance deadline away from the end-of-year time frame.
“STP signifies a marked shift, requiring employers to report employee year-to-date payroll data to the ATO, directly from their payroll solution, each time they pay their employees,” said Mr Chung.
“Our STP functionality is an integrated part of our enterprise solution, meaning customers don’t need to worry about expensive middleware or Gateway providers, and complex integrations.
“Payroll information will be delivered directly from our software to the ATO via our secure SaaS platform, so customers - both on premise and SaaS - will benefit from the superior security we build at every level of our leading-edge SaaS solution.”
Chung said TechnologyOne has worked in partnership with the ATO to roll out STP functionality in a considered, safe and secure manner, to reduce risk for customers.
“We’ve taken this approach to provide a smooth upgrade path for customers and minimise the operational impact on their organisations,” said Mr Chung.
“TechnologyOne’s solution has been built on the latest ATO specifications. By working in close collaboration with the ATO, our Human Resource & Payroll software is now recognised as a government-approved solution, providing customers with a secure and compliant system to meet the ATO’s legislative changes.
“In keeping with our Power of One promise, we’ve taken responsibility for both delivering the solution and ensuring a successful implementation, making us completely invested in our customers’ STP compliance.”