Payroll can be complex and time-consuming, even for small and mid-sized businesses. Many small businesses rely on manual processes, which are prone to human error and too slow for a rapidly changing business environment. But getting payroll wrong can be costly in terms of time, money, and employee turnover.
Today’s solutions allow you to minimize the risk of errors and penalties, eliminate manual processes, improve accuracy and compliance, and ensure a positive employee experience. Here are six ways an automated payroll solution can help you get payroll right.
- Better onboarding
Automating the onboarding process saves time and increases accuracy from an employee’s first day by providing a secure environment to upload new hire information and to verify that all the necessary data has been provided. In addition, a cloud-based solution improves the employee experience by getting administrative tasks out of the way before the first day, and by allowing employees to engage and feel part of the team from the outset. It also provides a self-service option for current employees to update changes in life events that may affect their HR status.
- Better timekeeping
A time and attendance system that integrates with your payroll management solution leads to more accurate timekeeping. A cloud-based system automates the enforcement of attendance policies and gives you real-time visibility into your workforce. And these tools eliminate paper-based, manual processes, streamlining the time and attendance functions and saving your employees and your HR department valuable time.
- Better employee experience
An automated workforce solution gives your employees the ability to handle many HR-related tasks themselves, including timesheet submission, schedule and vacation requests, shift swaps, benefits enrollment and management, and access to important HR information. Giving employees control over these functions means they are more invested in their jobs, more productive, and less likely to leave your organization.
- Better compliance
Automating your HR processes can go a long way toward reducing compliance headaches. Relying on paper records and cumbersome manual processes to manage your compliance efforts can open you up to regulatory risk. An efficient, cloud-based platform allows you to identify discrepancies and errors that can be costly. And more comprehensive audit tools allow you to spot and address troublesome trends.
- Better reporting
Research shows that a third of small businesses spend the equivalent of two work weeks preparing for tax season. And a large portion of that is spent producing the necessary reports. An automated payroll solution allows you to centralize all your HR information in one place, and easily produce customized reports with real-time data. You get the timely, accurate reports you need to manage quarterly and year-end reporting.
- Better support for growth
As your company grows, the complexity of your payroll needs will grow too. The right payroll solution will support your business goals both today and as you grow, with scalable tools that can handle your expanding workforce.
The right payroll and workforce management tools can streamline your payroll process and eliminate errors. MicroAccounting offers a wide range of cloud-based and cloud-connected payroll and workforce management solutions, including Sage 100 Payroll, Sage HRMS and Workforce Go!, that can help you get payroll right. Want to know more? Call us today at 855.876.3773.