Author: Ian Hurst — Managing Director, Paymaster Business Solutions
The Advantages of On-line Payroll
Are there advantages to Online Payroll? Maybe not at first glance, but it can affect employee satisfaction, your company’s finances, and keep you compliant with current legislation. Let’s consider the advantages, and how this can help your business succeed.
Whatever the size of your business, online payroll is the way to go.
Both payroll administrators and employees can access the system remotely. This means your payroll administrator does not need to be at the office to perform their payroll duties. Employees can also access their payslips (and anything else they might need) at any time, from anywhere. All they need is internet access.
Most online payroll systems have an employee self-service portal that can be securely accessed via a password. So they will not have to wait until they make contact with the payroll department to access their personal data.
Compliance & Accuracy
Online payroll systems should have the latest legislation written into the software of the program. This will ensure that you are compliant with the country’s laws. The accuracy of payroll should also increase since there is a reduced chance of human error, as many of the tasks are automated.
Payroll is complicated and can take longer when manually done. Online payroll software will drastically speed up the process, as one does not have to check the work over and over. Here again, it is because of the automation that this software provides.
Increased Employee Satisfaction
As the accuracy, compliance, and efficiency of payroll increases, there will also be an increase in employee satisfaction. This is because payments will never be late, and the amount paid to employees will be correct every time.
Because payroll is completed more efficiently, one can reduce the number of employees working on payroll. This will save the company money in the long run.
Easy to Use
Online payroll systems are very easy to use and do not require much training. It also allows those who do not have an accounting background to complete payroll with ease.
If an online payroll system is in the cloud, it will increase the level of data security. This gives you peace of mind that information will not be leaked, or data lost.
Online payroll systems allow for customization. Since each business is unique, no payroll system should be the same. Payroll should be designed to provide your business with the best system as possible.
Paymaster is an online payroll system that operates in the cloud. It can provide all of the above-mentioned benefits and more, ensuring that your business has a payroll solution that works best for you.
Contact our help desk to see how Paymaster can benefit your company. Contact Paymaster at 021 712 7333 or Glen Coburn at 083 679 1311 or firstname.lastname@example.org
Paymaster website – https://www.paymaster.co.za/