This article emphasises the need to help out the HR and Payroll department by invest in Payroll Software to increase time and save costs.
We all know that running a payroll is a time consuming operation, staff queries can literally tie up the payroll team for hours on end making sure that employees are paid correctly and ultimately happy with their reward. Which is why, in this age of global economic downturn, organisations need to make sure they have the right payroll software to manage this critical function while saving valuable time and resource.
Safe Computing have been designing leading edge Payroll systems since the early 70’s and their latest Payroll Software helps to make sure that payroll staff can answer queries faster and the department can become, leaner, meaner without losing any of its professionalism and most importantly accuracy.
Safe’s payroll systems are used by many organisations processing in excess of 1.4 million payee payments per annum and they are market leader in the Recruitment Agency Software market. Their payroll solutions also integrate seamlessly into their powerful Finance and Accounting software and Credit Control offerings.
By investing in HR and Payroll software, a company will not only be saving the time of the business administrators but will be saving money in the process. Sure, the investment of such complex software won’t be cheap, but by taking all of the complexities out of payroll will be of benefit in the future.
It may be worth considering payroll outsourcing as with the complexities of fluctuating taxation rates, each employee having different rates and the sheer number of employees that need payment that mistakes may even be inevitable. Outsourcing the payroll to a payroll solutions specialist may be a more expensive procedure, yet the time being saved and the guarantee that the payroll is being handled by payroll specialists will offer reassurance to those concerned and could increase efficiency and productivity of the firm.
There are many payroll software agencies and getting a price is not as simple as it should be. As every company is different, by having a different number of employees and freelancers then the software package require may differ. Other factors need to be considered, as some software packages include HR and Payroll together as a combined software, and also as earlier mentioned, credit control and finance and accounting software can be integrated. Do some research and make some enquiries, prices will differentiate, but it is important to remember that you are trying to find the software that integrates best with your company, by meeting all of the needs and saving time and money, in the long term, in the process.
You should see that any software you invest in for you business will give you a competitive advantage, as during tough economic times, many companies are cutting back on technology investment. By increasing productivity and efficiency of the workload will give your company an advantage over other firms that have dated procedures, less productive and have higher rates. Whether you decide to invest in payroll software or entrust to an outsourcing agency, then it must be remembered, that with a bit of research and a strategic mind, that investment will be of long term gain.
Surviving the Recession with Payroll?
We are all aware of the current economic plight the U.K. is in at the moment, with some industries suffering more than others. Even though some companies are equipped with clientele that are recession proof, it is not to say that those clients aren’t in business with those being hit hardest. With that in mind, it is important to prepare the business for a leaner period. Saying this, it does not necessarily mean job losses or cutting down wages, but it can be an opportunity to invest in the latest technologies and really drive the company towards a competitive advantage.
Increase Profit with Payroll
The sole purpose of business is to generate a regular cash flow and to increase profit margins to subsidise the businesses growth and pay the employees of the firm. Increasing profit margins is the Holy Grail for all firms and doing this may be on the back of securing new key accounts or by streamlining the business, to increase efficiency and productivity whilst also cutting unnecessary operation costs.
Pay and Bill can prove Costly
Pay and Bill is not exactly the number one priority of a manager yet it is an important process of management. Investing in pay and bill software or even outsourcing the pay and bill could prove to be a strategic move, as even though both have immediate financial implications, in the long run it may enhance efficiency and productivity of a company.
