Payroll Management Software
Running a small business is hard. When you are running the show, you are responsible for everything from the efficiency of the back office operations to the success of the sales force, but that does not mean you have to do everything on your own.
No matter who is tasked with payroll operations, there are plenty of benefits to using online payroll software to get it done. Here are 12 of the biggest benefits you can enjoy when you switch to online payroll software for your small business.
- Greater Employee Satisfaction
If your employees are not happy, you will not be happy. If you neglect the morale in your company, you could find your best employees voting with their feet and heading for the door. Using online payroll software increases the efficiency of your operations and reduces the likelihood of mistakes that could earn you the ire of the front-line staff. That gives you one less thing to worry about and helps you keep your best workers right where they are.
- Better Accuracy
Nothing is worse than a mistake in the payroll system, and using online software reduces the likelihood of those costly errors. Making an error that shortchanges your employees could destroy morale in your company. Making a mistake that pays your workers too much could leave your business without working capital, and the logistics of getting that money back could be a nightmare. With online payroll software, you can greatly reduce the risk of human error.
- Save Time
Payroll is not exactly a fun job, and chances are your designated staff member does not look forward to monthly payroll reconciliation. Using online payroll software can make their task easier and save them an enormous amount of time. That time savings means the designated payroll processor will have more time for other tasks, increasing the efficiency of your operations and lowering your overall costs in the process. Switching to a software-based payroll management system can also reduce the tediousness of the task.
- Enhanced Data Security
The security of your data is essential, and payroll data is especially sensitive. Your payroll file contains personal data like birth dates, mailing addresses and more, it is up to you to protect that information.
The best online payroll software uses state-of-the-art security to protect that sensitive data and keep it from falling into the wrong hands. That alone is a great reason to make the switch.
- Automatically Creates an Audit Trail
Having an audit trail is important for all financial aspects of your business, including how you process your payroll and pay your employees. It is common for questions to arise regarding payroll and pay, and a single disgruntled ex-employee could cause real problems for your business.
- Easily Customizable
Manual payroll systems are hard to customize but customization is far easier with online payroll software. Quality online payroll software can be customized to the needs of each client, whether that client is a small startup with less than a dozen employees or a growing business with hundreds of workers.
- Automatic Tax Updates and Super Payments
If there is one thing you can be sure of it is this – the tax tables and superannuation rates will continue to get more complicated with every passing year. Running your small business is not going to get easier any time soon, so you might as well prepare for it now.
- Anywhere Access
When you use online payroll software, you can store your data securely in the cloud. That cloud-based system provides you with enhanced security, but it also gives you and your staff members secure anywhere access.
Your designated payroll processor can check the accuracy of payroll reports, generate tax forms and process salary and super payments from anywhere there is an internet connection, making the job easier for everyone.
9. Ongoing Customer Support and Training
Using a paper-based payroll processing system has a number of big disadvantages, from lower efficiency to greater cost. One of the biggest drawbacks, however, involves training and support. Your payroll processing specialist may know how to operate the old system, but what happens if they leave? Will they have the time to train a replacement, or will you be on your own?
When you upgrade to an online payroll software system, you will benefit from ongoing support and upgrades, but you will also get the training you need to operate the software efficiently. You can train several employees to use the software, making your life easier when vacation time rolls around and flu season takes its toll.
Wolke’s software licensing and delivery model is flexible, scalable and economical wherein a software is licensed on a subscription basis and is centrally hosted. It’s easy to implement and works on taking on new modules as and when needed. SaaS is typically accessed by users using a thin client via a web browser. Talk to us for an economical switch on switch off model.
Wolke provides the best Time & Attendance Solutions integrated to Payroll, to a number of clients nationally and internationally in the UAE, GCC, MENA and European region. It is a company based in Dubai Internet City UAE and has capabilities across Abu Dhabi, Sharjah, Ras Al Khaimah, Ajman, Fujairah, Umm Al Quwain. It has also expanded across Bahrain. It solutions are robust, flexible and scalable.
Primarily, we will need an understanding of your company processes, gather requirements and eventually implement a standardized system. Wolke also provides Microsoft Dynamics NAV/AX/CRM implementation and solutions. Besides our experience in a world class affordable HCM / HRMS Suite (Human Resource Software Solution) with modules like Core HR, Payroll, Time & Attendance, Employee Self Service, Performance Appraisal, Outsourced Payroll service and SaaS payroll model we assist our clients in various ERP solutions. Talk to us on your software needs. We are reliable, responsive and economical in our approach to our customers. Period. Talk to us if you are a construction, Logistics, Banking, Hotel, Trading, Financial Services, Landscaping, Facilities Management, IT, Developer, Contractor, Consultant, Engineering, Distribution, Shipping, Retail, Wholesale, Events or a Media Company.