How To Get Rid of Payroll Stress From Your Business ?

April 17, 2017

How To Get Rid of Payroll Stress From Your Business ?

Connect with Service Provider

Get connected within 24 hours to pre-screened, trustworthy and small business friendly service providers for Services in top Indian cities

Human resources are important to the success of any business. As an owner of a small business, you know that people are your most important asset. But unlike large organizations, most small businesses do not enjoy the privilege of an HR department to handle administrative tasks such as payroll. This lays a big burden on the limited resources and adds to mounting risks and costs.

Here are some ways you can help take the stress out of payroll:

Reduce payroll-related cost

As a small business owner, you’re constantly on the look-out for avenues to maximize your investments. But unwanted costs in the form of non-compliance can affect the health of your business. ADP survey shows that organizations across the APAC pay up to $1.24 million as a penalty for non-compliance. Apart from these there are other costs of running payroll and HR systems in-house such as labour costs of staff working to keep payroll systems running on time and ongoing IT maintenance fees.

Investing in a reliable payroll solution can help growing businesses avoid a considerable cost. With the right payroll software, payroll processing can be made cheaper, more efficient and far more reliable.

 

Reduce payroll-related risk

Most small businesses do not have the budget capable of supporting the outcome of a crisis and continued business operations. This makes it important for small business owners to follow best practices to avoid risk. But the pressures of running a fast evolving business sometimes mean that these best practices are not adhered to.

ADP’s research finds that 37% of company data is left sitting in Excel or similar types of databases. This increases the risk of a probable misuse of data or a software crash could mean your employees not getting paid on time. Also, if the resource handling the complex spreadsheet system leaves the organization, it would be a payroll nightmare on your hands. Mistakes caused by using manual methods of payroll cost companies almost 1% to 8% of their total payroll. Payroll on cloud is accessible anytime and anywhere which helps you stay on top of your administrative tasks while not spending a lot of time doing them. It also ensures that no data loss occurs for any reason.

 

 

Boost business growth with the right payroll provider

Most growing businesses operate in a highly competitive environment. This makes it important for small business owners to choose their tasks wisely and concentrate on strategic activities that would promote growth. By using the right technology, you can free up your time to focus on what matters.

A survey of small businesses by the Manchester Business School found that 88% of cloud users experienced cost savings and 56% found that cloud services helped them to boost profits which is a perfect recipe for growth. Moreover, cloud software grows with you – you don’t have to continually upgrade your software as your company grows.

 

payroll

Relieve your workforce from payroll stress

According to Gallup, companies with engaged employees outperform those without by up to 202%. The right employees are critical to the growth of your business. It is important that these employees are engaged in the right way. Since most operations are not automated in small businesses, they tend to employ more senior people to do administrative tasks.

Also as small businesses typically do not have the budgets to maintain large teams, there could be a risk of few people taking care of multiple tasks thus increasing the possibility of getting payroll wrong through human error. By removing payroll from your small band of employees’ job responsibility, you can make better use of their talent and free up their time to operate on people core job roles. This not only boosts performance and job satisfaction but also gives you the reassurance that your payroll is always up to date thanks to your reliable payroll partner.

Become more competitive with the right payroll software

Most small businesses which invest in a payroll software find that the benefits can go way beyond cost. Old, inflexible internal systems and processes can limit your competitiveness. A payroll provider can provide strategic value to your business, and makes you more competitive, with –

  • Predictable and scalable fees
  • Zero maintenance and infrastructure costs
  • Up-to-date compliance knowledge
  • Clear overall payroll costs
  • Single, easy to use, cloud-based platform

The best payroll provider knows your business inside out and has the right payroll solution that complements your business growth. ADP Vista HCMSM is one such solution which can give you tremendous benefits while protecting your business from errors stemming from lack of knowledge or visibility. Invest in the right technology today to build the business of your dreams.

To request for a free demo and understand the functionality and simplicity of the product fill in your details on

 

Connect with Service Provider

Get connected within 24 hours to pre-screened, trustworthy and small business friendly service providers for Services in top Indian cities

Latest Posts

Top 4 HR Software Pricing Considerations To Consider Before You Buy

September 23, 2017

After a lot of research and discussion, you have finally found an ideal HR software solution fitting your business needs

Read More  
Can You Run Business Operations With Free SaaS Solution?

September 23, 2017

Incorporating a SaaS solution has clearly paved the way for increasing the rate at which small businesses can achieve their

Read More  
Outdated Payroll Software Is Expensive Business - Adopt Payroll On Cloud

September 23, 2017

The unfortunate reality of the digital revolution in Payroll technology is that it needs to be quickly updated, as your

Read More  
Want More Traffic? Digital Marketing Campaigns To Boost Your Web Traffic

September 22, 2017

It can be a complete minefield when you’re trying to figure out which type of digital marketing campaigns are

Read More  
5 Questions You Should Ask to Improve Your LinkedIn Company Page

September 21, 2017

The world’s largest professional network LinkedIn has more than 500 million users in over 200 countries; a fact which

Read More  
Top 5 Benefits Of Accounts Outsourcing Other Than Cost Reduction

September 20, 2017

Accounting is one of the most important but tedious functions in small and medium enterprises. Hiring new employees for this

Read More  

Latest Events

Event
Indian Women Convention 2016

Date: 08 October, 2016

Event
World Brand Congress

Date: 23 November, 2016 - 25 November, 2016

Event
Event
Business Opportunities Show

Date: 27 November, 2016

Event
CeBIT India

Date: 08 December, 2016

Event
Nasscom Product Conclave 2016

Date: 26 October, 2016

Event
Pune Connect 2016

Date: 19 November, 2016

Event
Event
CEO Hangout Sales Summit

Date: 08 December, 2016

Event
Visit Startup India

Date: 17 October, 2016