So what is cloud-based payroll, and how will it benefit you?
To kick start this off, when using Angel Bookkeeping & Payroll Services, you’ll have more access to features and control over costs when using an off-site system, but to elaborate further, we’re going to cover the following benefits that come with cloud payroll for both small businesses and enterprise; these include:
Why switch to cloud-based payroll processing?
More and more businesses are moving their payroll systems online to take advantage of cloud-based solutions, which offer a number of benefits. These include increased efficiency, reduced costs, and improved compliance.
To give you a better understanding, there are two types of systems available to businesses that want to handle their own payroll: on-premise and cloud-based.
These platforms are designed to make paying employees much easier for business owners while still ensuring accuracy and timeliness.
Although they share some commonalities, there is a big distinction between these two types of payroll software programs. They both have their own individual strengths, but also weaknesses that could make them less dependable and incapable if not rectified. This is particularly apparent with on-premise payroll software, which research has shown to be much less efficient than cloud-based options.
Another aspect to consider is the initial cost of the payroll software. For on-premise applications, there are often large fees which can be unappealing for small businesses, that don’t have enough money saved up.
Cloud-based payroll systems – the benefits
Businesses have always found payroll management to be a difficult task. The individuals responsible for running payroll can often run into problems that can create a variety of issues.
The following are some of the benefits of a cloud payroll system:
One single solution
Having to manage HR processes on multiple different platforms is not only impractical, but it also takes up a lot of time, however, Cloud-based payroll software has the ability to offer a wide variety of HR management needs.
Not only does this solution streamline payroll, but it also offers time and attendance, HR, and benefits administration capabilities from a single console. This means that you won’t need to use multiple systems, which will save you time and ensure data accuracy.
The ability to scale
With an on-premise system, your business is tethered to a solution that will likely never change.
It will inevitably fail to keep up with your business’s growth and lack features that your expanding company needs.
Cloud-based payroll software is perfect for booming businesses because it can expand along with your company. This helps maintain business growth by storing data electronically, which eliminates paper processes and the expenses that frequently obstruct progress.
Furthermore, users can upgrade and customize their platforms to better suit their needs. As an organization grows, these systems can be expanded to accommodate them.
Data in real-time
More often than not, payroll processing errors come from having to do everything by hand, like data entry.
Companies can constantly monitor employee data as it’s being processed in real time with cloud-based systems. The fact that users don’t have to manually input information results in better control over human capital management and decision-making.
All of the information you need is provided in easy-to-read, customized reports that can be generated on demand.
The average payroll worker’s office is crammed with stuff, from bulky file cabinets to disorganized cubicles.
Cloud-based payroll software not only declutters your work environment but also helps save the planet by reducing your business’s carbon footprint.
Installing these systems can help you save money and do your part for the environment. Reduced or, in some cases, eliminated by having a system that ensures all necessary forms are filled out and notifies employees of any missing paperwork.
Deadlines met week on week + compliance requirements met
The two most important deadlines that payroll managers have to meet are ensuring staff are paid on time and tax filing deadlines.
If you don’t deliver employee salaries on time, it can hurt employee morale and productivity.
Companies that do not have a flexible payroll system could face legal complications and heavy fines from regulators.
Cloud-based solutions give users automatic updates on any changes in the law, as well as their compliance status. This way, businesses can always stay up-to-date and make informed decisions about their choices.
It’s important to keep employee information safe and secure. Data theft or system crashes can throw a wrench in payroll processes.
When on-premise solutions are employed, data loss is more likely to occur. Cloud-based tools don’t have this problem, as this is an area in which they excel.
The invention of cloud technology has both made data storage more secure and easier to share with those who need access.
24hr employee access
Outdated payroll systems make it hard for relevant users, like managers, to access needed information. Additionally, these manual systems keep employees in the dark about their own data and work progress.
However, many companies are now using cloud-based payroll software, which gives employees access to their own records.
This also gives HR personnel more time as it takes some administrative responsibilities off their shoulders.
Payroll management encompasses more than just issuing payslips and ensuring regulatory compliance.
Not only does keeping records help during an audit, it can also prevent one from happening in the first place. If there is evidence of a problem, businesses are less likely to be penalized because they have done their due diligence. Furthermore, allegations made by employees are easier to dispel when detailed records exist.
This system can also be accessed by employees, making it much easier for payroll to do their job.
Cloud-based payroll software simply trumps its counterparts when it comes to data security and accessibility.
Cloud-based payroll software
Brightpay is the leading payroll provider for accountants and businesses and the preferred software of Angel Bookkeeping & Payroll Services.
Looking for a reliable, easy-to-use cloud-based payroll software solution? Look no further than Brightpay! As the leading provider of payroll services for accountants and businesses, this software offers a comprehensive range of features to help simplify your payroll process. Whether you need to manage multiple pay runs, calculate taxes and deductions, or create detailed reports, Angel Bookkeeping & Payroll Services and Brightpay have you covered.
With its intuitive user interface and Angel Bookkeeping customer support, Brightpay is the perfect choice for busy professionals who need a reliable payroll solution that can keep up with their demanding schedules. Plus, as it’s completely cloud-based, you’ll be able to access your payroll data anytime, anywhere – no bulky software or servers required.