In a digital world, it is hard to imagine that so many payroll systems implemented by companies still function on a manual process. There is, however, a digital solution that has a variety of benefits that a business cannot overlook. This digital solution is online payroll software and it has become the talk of the town.
If you are considering the move from a manual to a digital or online payroll system then this article is for you!
In this article, we will discuss online payroll software advantages as well as which payroll software will be best suited to your business.
What is an Online Payroll System?
Payroll, in its most basic definition, is the process used to pay staff what they are owed. It can occur on a weekly, bi-weekly, or monthly basis, depending on the contract and agreement between an employee and employer.
An online payroll system allows you to perform your payroll online by making use of a secure internet connection. This also allows you to perform your payroll from anywhere in the world. These systems typically store their data on either servers or the cloud, depending on the payroll software provider.
The Benefits of an Online Payroll System
There are multiple benefits to making use of an online payroll system, some of these benefits include:
- Accuracy: When payroll is performed manually, human error is one of the biggest dangers. Online payroll software significantly decreases the chances of human error playing a factor; thus, fewer mistakes are made.
- Compliance: Depending on the provider, legislation is embedded into the software, ensuring your compliance is always up to date.
- Time-Saving: The time spent on payroll dramatically decreases, meaning deadlines are met reliably. This is because certain manual tasks are now automated and other processes are streamlined.
- Information Access: Online payroll solutions make it easy to access information, data and documentation, ensuring you do not waste time searching for what you need and critical information is never lost.
Why is Online Payroll Software Best for Your Business?
Because PaySpace is a cloud-native payroll service and we own our software, there is a multitude of benefits that come along with that, making it the perfect choice for your business. Two of the biggest benefits consist of:
- Quality at a Lower Cost: PaySpace is an affordable online payroll software option that allows you to pay for what you need and scale services as you grow.
- Adaptable Software: Due to the fact that we own our own software, we have influence over changes and additions made to the software, ensuring your business always gets the service it requires.
It is time to move your payroll system into the present and complete the digitisation of your company. Contact us to find out more about PaySpace, the benefits you could experience by migrating to the cloud, and how we can change your payroll process for the better.