4 Telltale Signs That You Need a New Payroll Management System

Like it or not, running payroll will cost money. Payroll software costs money, and the time it takes for an employee to enter in relevant information is still time you are paying them, rather than time spent working on something that can generate the company revenue. In any situation, it’s best to evaluate your current payroll situation every year and determine the best course of action moving forward. Here are signs that you need a new online payroll system.

1. Your Current Processes Are Antiquated

A smaller organization may be using a manual method for processing. The sole benefit of this process is the cost however, the main disadvantage with the system is the high room for error. Errors in payroll can mean headaches, penalties, or even potential legal fees. Payroll system exists to help alleviate the problem of human error and also keep them neat and organized.

2. Important Payroll Software Features

A smaller company with basic payroll management system needs can probably get by with software that handles wage calculation, and then prints the checks and pay stubs. But a company that employs staff full-time will need to worry about more things. Many payroll solutions will offer features that may not be necessary to process payroll in your accounting, but they will help the entire process become a well-oiled machine.

3. Support for Your Current Software Is No Longer Offered

Payroll system is almost exclusively billed on a subscription-based pricing model. As a cost-cutting measure, companies may choose to stop receiving continued support or paying for routine updates. However, this brings about several issues. Solving support issues on your own could be a dead-end. Getting your questions answered promptly via active support will prevent an employee from being bogged down researching an answer online.

4. You Need Automation

Is processing payroll manually as cost-effective as you think? Then the question is, how valuable is your time? Compared to a manual process (where everything needs to be properly logged into a spreadsheet, or worse, handwritten), a fully-automated payroll and human resources system will just need a staff member to double-check things to look good before approving.

If you recognize these signs, then you need a new online payroll service in the Philippines today. Visit our website and let us help with your business needs.

Resource:

https://www.scoop.it/topic/infograpics-by-iamhishintan/p/4120228480/2020/08/13/4-telltale-signs-that-you-need-a-new-payroll-management-system 
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