This is a story about Marcia, a small business owner. She developed a thriving florist business that also sold home accents. She started with one small location and two part time staff. Fast forward to three years later, and she has three locations—one of which is in a different but nearby town, and she will open another within the year. She now has a crew of employees, both part and full time. She knows the value of offering benefits, and thanks to very good sales, decided to offer them as a much deserved “perk” for her employees.
She had started, like many businesses do, handling her own payroll and related services. The volume at first was not that demanding, but as she grew, the process obviously got more complex. Her main office assistant began helping, but soon this person’s plate was full. There seemed to be too much time devoted to the two-week process, especially in dealing with deductions, taxes, and other elements that can vary widely by employee. Together, they found they were spending a great deal of time keeping up with all the details. And, with hectic schedules, Marcia wanted to be sure that payroll was never late and everything was done right.
Finally, one day upon thinking back on her growth, she realized the payroll function would be best if handled entirely differently. That’s when she began exploring the benefits of using a modern payroll system. What she found was at first amazing to her, and it all made a lot sense as one benefit after another became clear. Let’s look at a few that she, and business owners like her, reap from using a payroll system.
One of the Biggest—Saving TIME
We all know that the end-to-end process of running payroll is much more than writing out or printing a check. There’s an entire structure to the system, and maintaining it in one’s own office can be exceptionally time consuming. Using a great, modernized payroll system quickly starts saving time for everyone—not just the person handling payroll, but for employees and the business’s stakeholders. Everyone benefits.
Another Huge Benefit—Professional Information
Modern payroll systems use software to handle calculations, deductions, application of rules based on employee electives, especially when it comes to tax calculations, benefits and similar line items that affect pay. Modern systems keep the information impacting these functions up-to-date so business owners don’t have to worry about these important elements.
Systematic Processing Is Easy & Reliable
Employees can easily use the online portal to enter their time. Supervisors can schedule shifts. Time and attendance are greatly streamlined, which feeds the entire process. Processing is a matter for the computers running the system (thank goodness), and payroll can truly run “like clock work” without a human supervisor watching every detail.
The are many other benefits of using a modern payroll system that make up a long list, but suffice it to say collectively, those benefits are huge time saving, stress relieving and competent processes. A business can then depend on a professionally-developed system to handle this key operation of any business—paying people.
Just a few months after integrating her payroll system, Marcia realized how second nature the system had become and how easy it was to produce payroll, get great HR information and see reports on demand. The value of her decision to change her payroll function was a great win all the way around, especially for her time and her confidence in the process.
Applied Payroll Solutions knows the payroll function inside and out (and many other HR-related processes) after decades of experience. Feel free to connect with us at any time to discuss how our system will improve your business or organization.