Why Companies Should Streamline Payroll Processing

By on December 12, 2012

The importance of using a reliable payroll system cannot be emphasised enough. Aside from giving the appropriate pay to every worker, companies are also expected to release the pay on time, which is why payroll processing can become a Herculean task if an organisation isn’t armed with the right system.

Companies who are still stuck with traditional payroll systems often face twice the burden as they rely heavily on employees’ time cards and other records for the computation of total earnings. This is a very tedious process which consumes a lot of time and brings a lot of headache to the people assigned to the job.

If your company is suffering from this nightmare, choosing to automate your payroll process might be the best solution. Here’s why:

1.      Minimal Errors
An automated payroll system lifts a lot of burden on the people managing payroll. Gone are the days where one has to compute withholding fees and taxes by hand. All a payroll officer has to do is to input pertinent data on the application, such as wage information, hours worked, deductions, and bonuses, and leave all the tricky calculations to the software. Therefore, as long as the details are correct, then the payroll is guaranteed to remain error-free.

2.      Faster Processing Time
Manual payroll processing often requires payroll officers to check the records and computations a number of times to ensure that everything is accurate. This may work for firms with very few employees, but not for those with 10 to 50 employees. By using payroll software, businesses save valuable work time and the energy spent on wage computations can be directed elsewhere. Pending tasks can be completed easily and records can be updated in just a click of a button.

3.      Ease of Use
Payroll software eliminates the stress of handling payroll as they are designed for the convenience of the business owner or the payroll officer. The application is easy to navigate and can be accessed even by non-experts. Some payroll software-providers, like astutepayroll.com, not only upgrade the payroll process of firms but their recruitment management system, as well, with their advanced recruitment software.

4.      Paperless Workplace
Payroll software also saves the environment as it minimises the use of paper in workplaces. Those who handle payroll no longer need to fill out forms, pile stacks of documents, or make calculations on paper because everything can be accessed through the software.

5.      Disaster Recovery
Companies relying on paper-based payroll systems often store their records on-site. This may give business owners peace of mind; however, it can be risky since the files can be permanently lost in the event of disasters. Most payroll software-providers, on the other hand, allow firms to prevent loss of important documents by offering backups and disaster recovery services. All client data are stored on secure data centres, letting owners sleep soundly knowing that their records are safe and can be recovered anytime in case their system crashes.

Payroll software is becoming more popular today because of the convenience and efficiency they deliver. Make sure your business never gets left out by taking the leap from manual to modern.

Debra Wright blogs about a plethora of topics including Recruitment Management System and other fields. Wright considers astutepayroll.com as one of the leaders in HR Payroll System.

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