6 Reasons You Need A New Payroll Software Solution
Summed up in one neat list!
If you are reading this you are likely one of the people responsible for payroll in your organisation. If you are reading this you are also interested in a new Payroll Software Solution. You know you need it and you’re looking at options to present to the C-suite at your company. Don’t worry, you are not alone!
Many companies are moving to new Payroll Software Solutions to pay their employees. Why is this though? If you work in payroll, then you know that the right solution would make your payroll a lot easier to process. With ever changing elements to the payroll process, is your solution able to keep up? has it offered any other notable benefits to your business? Probably not. That’s why you are here! You need a more flexible Payroll Software Solution.
I know this, you know this, and you just need management to see this. So how do you convince the decision makers of this? Here I give you what you need to know from the Payroll side. Then what you need to tell the C-suite executives.
- Reduce Operational Costs
Using a Payroll Software Solution that suits your business purposes can be a huge help. Especially for companies needing to reduce their operating expenses. When choosing a solution it is important to check the level of work involved in running your payroll. Does the software you’re considering have options that benefit or simplify your payroll process? If the Software you selected ensures a complete payroll run in just a few clicks, then it reduces the resources needed to process a payroll. Reducing such operational necessities, could save your company a lot of money. Giving the business more money that could be invested back into the company for growth and expansion.
What to tell the C-suite: It will save us money and grow the business.
- Customisable to Your Payroll Needs#
Payroll Software Solutions that take a “one size fits all” approach are rarely a good investment. Taking into account changing regulations, employment laws, etc. Payrolls are too diverse to fit into one pre-set bundle. It is important to choose a software that is configurable to your unique payroll needs. Whether that’s accommodating different payroll schedules, or supporting particular reporting requirements. A flexible software should also expand with you over time. As your business grows it grows with you. As your needs change, it changes with you.
What to tell the C-suite: The system will suit us, not the other way around.
- Safety of Employee Details
Payroll information is sensitive. It needs to be kept safe to protect both your business and your employees from. Using the right Payroll Software Solution provides an extra layer of security. It prevent the exposure of data, as it is stored securely with limited access. A good provider will show the integrity of the security measurements of the software, so be sure to ask.
What to tell the C-suite: Our data will be much more secure than before.
- Accessibility for All
Payroll and HR tend to work hand-in-hand. More businesses recognise the benefits of managing payroll and other administrative tasks together. Many providers will offer an integration with their matching HR software, or third party systems. Some can even offer an extra module for employee self-service, to make daily administrative tasks easier. These tasks range from payroll inquiries, holiday bookings and more. Providing your staff with this easy access to their own data and documents has many benefits. Employees get instant answers to their queries and it frees the HR and Payroll Department from dealing with these matters.
What to tell the C-suite: Our staff will love all the new features and HR will reduce administration.
- Software That Keeps Getting Better
If you have been using your current software for some time it is likely out of date. It’s probable that the features are outdated, due to limited upgrades and your provider. Could this mean you are missing out on developments or advancements for your payroll? You should opt for a payroll solution that delivers regular upgrades allowing you to get the most out of your Payroll Software Solution. This ensures your payroll runs to the best of its and your abilities. Now and in the future.
What to tell the C-suite: We can be sure of the integrity of our payroll and the software.
- Technical Support & Customer Service
No matter how well you know payroll or your software, there will be a time when you will be in need of some form of help. Whether that be customer service or technical support. Is your current provider slow in resolving problems or offers limited technical support? Then you should consider the level of support offered by other providers. Look for fast and dependable technical support and customer service.
What to tell the C-suite: We always have someone to rely on.
Payroll used to be a stressful, time consuming task for Payroll Managers. Today software and payroll services has made this a much simpler process for businesses. There are also a wealth of benefits, many of which we’ve mentioned here. When working with your C-suite to make this move, these are just a few of the things that you can bring to the table. Keep doing your research and you’ll find many more!