Payroll is one of the most important chores any business has to address. Employees depend on it being on time, every time. Using enterprise class payroll software helps your business stay on top of the task. It is an indispensable tool that rewards your business with happy employees, accurate records, and actionable insight into your operations. As you add up the benefits of using payroll software, the following are invaluable benefits to consider.
Even the most dedicated employee needs a day off. Some may get sick, and most want to retire at some point. Payroll software makes it possible to accurately manage sick leave, vacation time, overtime, FMLA, retirement, and medical benefits. You can use this to manage benefits for individual employees and to identify trends within your workplace so that you can adjust operational schedules, hire temporary staff, etc.
Tax & Regulatory Compliance
There are always new developments in law and business practices. Payroll software keeps you up-to-date with changes to the tax code and any state or federal regulations associated with your business. This helps you avoid fines and penalties while ensuring that you are making the most of applicable deductions.
Saves Precious Time (and Money!)
Time is the most valuable asset of any business and enterprise payroll software does its job of saving you time throughout the year. Once set up, most features are fully automated. This means that all you have to do is monitor the records and make minor adjustments to pay schedules and benefits as employees move up the ladder in your company. This makes it easy to print out everything from weekly paystubs to W-2’s at the end of the year.
This adds up to considerable savings for your business. Payroll software is a cost-effective solution that allows you to focus on growing your business instead of expanding your accounting and HR departments.
Provides Strong Security for Records
Employers have a legal responsibility to lock their financial records down. Your business can’t afford a breach of security that releases the financial data of your business or your employees. Enterprise class payroll software makes it easy to update and store records in a safe and secure program. It also allows you to limit access and monitor user interactions which helps protect your business against file losses, security breaches, and fraud.
Care of Technical Support
Enterprise class payroll software comes with solid technical support you can call upon when problems arise. Whether it is a glitch in the system or a user error that deletes a record, tech support is a phone call away. This means you can get the answers you need without having to outsource the task to an IT professional.
Saves Valuable Office Space
Space is at a premium in most offices, and a significant amount of space is dedicated to hard copy files. These files grow at an exponential rate as your business grows, which means you need more space to store them all. With enterprise class payroll software, you can take a significant stack of paper out of your files and store your payroll records electronically. This makes it possible for you use that extra space to generate revenue rather than collecting dusty records.
Contact GreenLink Payroll at (480) 385-2525 to discuss the enterprise class payroll software we provide our clients. We are happy to provide a free quote and to discuss the ways the new functionality in GreenLink tools makes payroll processing easier.