The idea of having a paperless pay process and thus eliminating all paper timesheets might still seem a bit of a stretch for some businesses... However, did you know that there was a time back in the 1960s and 1970s when futurists and efficiency experts were widely predicting the era of the "paperless office."
While some of this has become the current reality, paper is probably used in larger quantities and volume today than it was 40 years ago. But some functions have begun to become truly paperless.
No More Timesheets With Paperless Pay
Each year new technology and new breakthroughs with software and devices help facilitate the rise of paperless pay systems. In fact, eliminating much if not all of the paper used for a typical payroll management process has become almost a secondary benefit.
Time Savings As A Perk
A paperless payroll system can provide huge savings for employers. Not only does it provide great convenience for HR staff members, supervisors, and business owners, but it also dramatically reduces labor costs. These savings are created through:
- Eliminated time spent by payroll clerks in collecting and calculating time card data
- Minimized time spent correcting problems from human error in processing timekeeping data
- Increased productivity and accountability for time worked by employees
Security With Paperless Pay
As the instances of identity theft and data breaches become more widespread, new laws and regulations have been enacted. Many of these require companies to manage and store personally identifiable information in ways to ensure that proper care is taken of those documents. Paperless office systems can be easier to secure than traditional filing cabinets, and can track and monitor individual access to documents.
Concerns With Paperless Payroll Systems
One of the issues that has kept some companies from adopting papeless automation is the difficulty of capturing digital signatures in a cost-effective and compliant manner. The E-Sign Act of 2000 in the United States provided that a document cannot be rejected on the basis of an electronic signature and required all companies to accept digital signatures on documents.
Fortunately, there are currently many cost-effective options available, including solutions that do not require end-users to purchase hardware or software.
Going Completely "Paperless"
The ultimate paperless pay solution is to outsource your payroll process. There are many reasons why businesses should consider online payroll outsourcing, especially small to medium sized businesses that may not be able to afford dedicated human resources and payroll clerks.
Outsourcing payroll can save staff time, money and be the best payroll solution for your business. In addition, many payroll services offer related services like insurance solutions, retirement planning, and HR functions. And, as a bonus, some online payroll providers offer a green payroll solution.
Considering Your Outsourcing Option
In addition to the time and dollar savings, having the peace of mind of knowing that your payroll processes are being handled competently, accurately, and on time is a great reason to consider outsourcing.
On top of that, you can be assured that the accountability and liability for compliance rests with your vendor, freeing you from the constant pressure of staying fully informed and compliant with the ever changing - and growing - rules, regulations, and legislation.
As a business owner or payroll manager you have a number of options for your payroll functions. Software that can be installed in-house, or cloud-based programs offer a good alternative. But if you really want to take full advantage of the benefits available to you, outsourcing to a provider like Accuchex can still be the best decision.
Reliability, full-service options, and reputation are the hallmarks of a quality payroll management service provider. If you are currently looking to invest in outsourcing you get your Free Download: Payroll Outsourcing Guide to help you make an informed decision or call Accuchex Payroll Management Services at 877-422-2824.
