If you have over 100 employees, your business online payroll needs are increasingly complex. This Market Segment is a segment that requires you to look at the number of people you have dedicated to processing payroll and managing HR.
Automation can save significant man-hours and enable you to either reduce the number or transfer the skill set of your dedicated staff. Traditionally, only the big national payroll providers could handle the demands of this market segment.
But a paradigm shift in the payroll industry is causing people to question traditional thinking, and technology is enabling smaller, regional payroll companies to provide comparable services, often at a significant savings.
These regional players now have the ability to license software that can more than handle the demands of the 100 to 1,000+ marketplace.
Another aspect of this paradigm shift is that instead of Time & Attendance, payroll and HR all connecting with each other, the market is demanding all three to share one database.
Gathering the data:
Automating Time & Attendance is a given. Two studies can give you an idea of the potential cost savings of automating your time collection.
1) American Payroll Association (APA) did a study showing a 4% keying error rate. 2) The American Payroll Association (APA) reports that the average employee “steals” 4 hours and 18 minutes a week by coming in late, taking long lunches and breaks, wasting time on the job, and leaving a few minutes late to collect overtime. With the use of time clocks, the accuracy of time actually spent on the job increases significantly.
If you do the math for your company’s specific situation, you will come up with a hard dollar figure to compare against the cost of a Time & Attendance system.
Save time and money by receiving multiple, independent quotes for a variety of Payroll Processing Companies.
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Simply answer a few questions about your payroll needs to get the best solution for your company:
Sending the data to the business online payroll provider:
You can export hourly data from a Time & Attendance system or enter the hourly data into Software or SaaS (Software as a Service). The SaaS application should have some type of Pay Entry Grid built into the software (as opposed to an EXCEL spreadsheet that can be imported).
Getting the data back from the business online payroll processor:
Look for software or SaaS which has the following:
Paper: You may have the option of printing your own checks, or receiving paper checks delivered by courier.
Paperless: After processing, you can go online to access and download your reports. For pay stubs, different business online payroll providers employ one of two methods:
Human Resource Information System:
Your HRIS must have the following:
Get a Free, No Obligation Quote from PayPros, Inc. now. Or call (888) 693-4611 for a complementary payroll analysis.