When it comes to paying multiple members of staff correctly and on time, many businesses face a host of challenges that can not only cause a headache for all involved, but that could also take some significant time to rectify and have potential tax ramifications that could end in fines and more. The typical processes used in many companies up until now have been slow, manual and prone to error, but thankfully, online payroll software is stepping up to the mark to minimise each of these things for a better, more streamlined approach to payday.
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The top benefits of digital payroll support
While you may be a little reluctant to make the switch to digital options (after all, the process isn’t immune to teething problems at first), there is certainly a myriad of benefits to be had when doing just that. Here’s a look at the top ones you can expect when using online payroll software:
1. Fast, simple payroll practices from start to finish
If you have a business in the UK, you’ll already know that the fact that there are so many rules and regulations to follow (currently standing at 174 and ever-changing), there are many reasons why it can take a significant amount of time, concentration and even skill to ensure that everything is done correctly. From this to manual data entry and even reporting, even a professional will still take a while to complete all of the tasks involved – and this can be costly.
With automated online payroll software, everything can be taken care of in just a few clicks and all in one place (once all the correct parameters have been set), so you’ll cut down on time, effort and even the funds going out when employing specialists.
2. Professional services without the price tag
One of the great things about this type of software is that it is designed to be so easy to use that any member of staff could set aside some time to learn the ropes, input the relevant fields and let automation take care of the rest with minimal future oversight. The good news is that this software is often supported by expert developers, so you will have access to help should you need it – and this can even cover keeping you up to date with deadlines, all of the data sets needed and even compliance protocol.
3. Keep private information safe
It is a key piece of legislation in workplace law to ensure that all employee data is safe and there’s no better way to keep your employee’s information secure than with digital payroll software that minimises data sharing and encrypts everything under one portal. This even extends to automated, electronic payslip delivery.
Services included with digital payroll software
Online payroll software offers a host of services to ensure you have everything you need in one place and at the click of a button – and these typically include:
- HR managed services
- Outsourced payroll
- Access to online payslips
- Payroll bureau services
- HR payroll data integration
- Delivery and training
- Suite of reports
- HR software training
- RTI and pensions auto-enrolment features
- Downloadable tax notices direct from HMRC
When you have access to all of this and more, and it is affordable and easy to implement whilst providing a host of benefits, why wait to get your payroll processes updated any longer?