Even though we live in a digital age surrounded by mobile devices and cloud computing, many businesses are still doing payroll manually. There is a better - and greener - alternative.
Smart business owners are always looking for cost-effective procedures and tools that will help them cut costs and generate savings for their companies.
And, for many smaller businesses, their payroll process represents a significant portion of their overhead costs. This is why going to a green payroll process can be such a smart move. In fact, moving away from a paper-based, manual process can save companies money in three different ways.
Saving "Green" With a Green Payroll Process
Most every business can see significant savings by transitioning from a paper-based payroll process what is often called a green, or paperless, payroll system. There are different ways of approaching this transition, as well. It can be done by implementing one of a variety of in-house software solutions that are available, or a business can simply outsource some or all of its payroll functions.
Business owners typically consider the money savings as being at the top their list of expected outcomes with a green payroll system. However, for payroll managers and other payroll professionals, the goals are usually more about saving time, materials, and other intangible resources.
A well designed green, or paperless, payroll process will most definitely save money while also freeing up valuable time and resources for a company. In fact, one could say that the the savings are essentially doubled since every hour not spent processing payroll is an hour invested in additional productivity. In addition, every dollar not spent on a manual payroll process is a dollar that can be invested elsewhere.
The Advantages of Being "Green"
In addition to the dollar savings that come with a green approach, there are also process and security benefits with a paperless payroll process.
By using an online payroll system, such as Time2Pay by Accuchex, businesses have easy-to-use integrated employment solution, delivered directly from the cloud. Time2Pay reduces the processing time that is typically required with a paper-based payroll process, and companies can provide their employees with direct 24/7 access to their own pay information.
By using direct deposit, digital pay cards, and online pay stubs, there is no need for trips to the bank, dropping off paychecks to job sites, and disbursing payroll checks. This means more time for staff to focus on other revenue generating or support tasks. In addition, security is improved and the overall workload minimized. Along with the stress level!
Another "Green" Option: Outsourcing Your Payroll Processes
There are a number of good reasons to consider outsourcing. For example, having a full tax service. This function ensures that the employer and employee taxes are calculated accurately and paid on time, every time. And the service provider assumes full liability that the taxes are handled correctly. This is great for business owners as it offers peace of mind and assurance that they will never pay penalties or interest to a taxing authority again.
With online and automated payroll management systems, the most complex aspects of payroll are handled by the vendor. In addition, Accuchex's Time2Pay offers flexibility and customizable options within the software, allowing for many possibilities for reporting and functionality.
Learn More About Green Payroll and Your Business
And while investing in the best available software for your payroll is one option, another direction you can consider is outsourcing. This can be simply outsourcing one process such as basic payroll. However, with a full-service provider such as Accuchex, you have additional options for outsourcing as well.
When you are searching for California payroll services, know that you can depend on Accuchex for quality payroll and Workforce Management solutions, including Human Resources, compliance reporting, accounting, and insurance services.
Let Accuchex help you in managing your HR needs, payroll processes, and staying on top of compliance demands. Get your Free Download: Payroll Outsourcing Guide to help you make an informed decision or call Accuchex Payroll Management Services at 877-422-2824.