Even if you’re still using manual processes to run your payroll and HR departments, chances are, you’ve heard of software solutions before. Thanks to the widespread availability of payroll software and the continued advances being made in HR technology, SMBs can easily find an all-in-one HRIS that can manage their HR, payroll, and benefits administration needs, all at a cost they can afford. Affordable pricing may have been an issue in the past, but fortunately, that’s no longer an obstacle you’ll need to overcome, so if your business hasn’t implemented all-in-one software solutions then you’re surely missing out. Don’t believe us? Then read on to learn about the benefits of using an all-in-one system!
Payroll Processing Speed
Manual payroll processing is notorious for being time-consuming and ineffective. Payroll specialists must not only stay informed with the constantly changing tax laws, but also with the per-employee deductions. Using those, calculations must be made for each employee, ensuring that no errors are made while computing individual withholdings and deductions to produce a single paycheck. This process must be completed for each employee, making the entire thing a laborious and never-ending task. Fortunately, specialists no longer need to spend hours manually performing these calculations, as an entire company’s payroll can be calculated within minutes by using an automated payroll system!
Overall Calculation Accuracy
Humans, by nature, are prone to making errors from time to time. While you may run into issues when employing specialists to perform payroll calculations for you, you certainly won’t have any issues if you choose to use payroll software instead. Using a database complete with all the latest tax laws combined with individual employee deductions, the system can take T&A (Time & Attendance) data, match it with the proper deductions, and produce a single employee’s final paycheck in seconds, completely error-free!
Workplace Stress Levels
Inter-departmental communication (or a lack thereof) is often a source of stress at the workplace, especially when it comes to the payroll and HR departments. Information must be requested, approved, and received before it can be processed, turning what should be a simple transfer of data into an extended chore. However, using all-in-one software solutions, this issue can be eliminated by allowing both departments access to a single, shared database. Information is readily available at the simple click of a button, ending the repetitive request-receive cycle of information.
Beyond increased data availability, employees will also gain awareness of more personal matters (such as employee benefits) by using an all-in-one system. The UZIO online payroll system allows employees to manage their benefits directly from an employee self-service portal. This self-service portal allows them to take full control of their benefits, but also provides additional perks such as the ability to clock in/clock-out remotely and access to their previous pay stubs. Since the information is stored on the cloud, employees will have plenty of time to explore all the available features as they can access the self-service portal from their personal devices whenever they’re connected to the internet.
As mentioned above, inter-departmental communication can be problematic for some companies, but this issue can easily be resolved by using all-in-one platforms. By storing payroll, HR, and benefits administration information all on the same system, you’ll instantly see an increase in the overall unity between the departments. Since changes made by one department will instantly be reflected for the other, both HR & payroll will be up-to-date on current employee information, making employee management a much smoother process overall.
Is All-in-one Overboard?
Some might argue that consolidating all of your systems into one is too much, but we wouldn’t agree: here’s why. Payroll, HR, and benefits administration are all vital business functions that can’t be overlooked, which means you must attend to them in some way. Even if you opt for more efficient standalone software solutions instead of using inefficient manual processes, you’ll still need to pay for the services. By combining your systems, you can consolidate three bills into one, often enjoying all services for a lower cost than you would have had you purchased them separately! It all comes down to convenience and cost, but why choose one when you can have both?