Running a business and managing employees is time-consuming, particularly when it comes to processing their payments. Payroll operations can be stressful, even if you’re a small business, as it focuses on detailed record keeping, tax knowledge and error-free processing payments.
Processing payroll is an essential function of any workplace, and effective payroll management offers specialist services and software to improve workplace practices.
Payroll specialists are experts in their field and offer different service levels so you can do what you do best – run your business.
If you’re ready to take payday back, read along and understand all you need to know about payrolling services.
What are Payroll Outsourcing Services?
People rely on outsourcing a lot in their professional and personal lives, and Australian businesses are no different. What is it, and how can it help your business objectives?
Payroll services are a scalable solution where a provider always ensures accurate payment to your employees. The all-in-one workforce management software includes everything from:
- Calculating wages
- Payroll taxes
- Track employee time & attendance
- Keeping electronic records
- And more.
A payroll service gives you peace of mind knowing it’s being done right rather than ineffectively using in-house resources.
1. Increased productivity
In-house payroll management is time-consuming. It requires accuracy while managing large amounts of data. As such, payroll service gives your time back and plays a critical role in increased productivity.
2. Save Costs
Although money is spent on payrolling services, any business owner will see how outsourcing payroll management to a third party is a long-term, cost-effective resource. Your team spends less on payroll services and more time earning and saving money daily. The cost savings will be evident by comparing time spent on payroll in-house and outsourcing.
3. Improves compliance
Being compliant is a critical part of a business's accounting practices. With a focus on meeting tax regulations at the federal, state and local levels, outsourced payroll software makes it easy to keep up with changes, especially as your business and team evolve and grow.
4. Minimises errors
When clients find the right provider to manage payroll operations using a business's payroll management system, the payment process will be streamlined and see fewer errors on payday. By tracking data and costs, along with calculation management, the software offers simplified, automated solutions, leaving less scope for error.
5. Improves data security
Payroll outsourcing maintains a high level of data security as processing payments includes handling sensitive information, including employee data. Outsourced payroll services offer the storage and protection of company accounting and personal information on secure cloud-based servers with encryption technology.
6. Monitors employee attendance
When you choose global payroll software, it’s used to pay your employees, meet tax compliances, and manage your team's attendance records. A payroll provider usually offers a service where clients can monitor real-time tracking data when staff clock in and out and have rostering features.
7. Managing Administrative Staff Turnover Risks
Companies with complex payroll requirements often have key personnel on hand who understand the nuance of their payroll calculation. Outsourced payroll helps to eliminate this risk by being dependent on an established external provider, rather than a key person eventually leaving the company or being away on holidays.
Pay Cat emphasises a range of global payroll services to benefit all businesses. As a respected brand, it finds success with its Employment Hero Payroll Cloud Software because when it outsources payroll, clients benefit from receiving:
1. The Right Level of Service
We provide accounting support and payroll management services to businesses of all sizes in Australia, offering ongoing advice and guiding you through the discovery stages, putting clients first.
2. Secure your data
Always choose a payroll service with processes in place to safeguard your data. Pay Cat uses cloud-based servers with the latest encryption technology to ensure our clients' information is safe.
3. Automation
If your provider doesn’t offer automation, they should! Automation enables the accuracy of records and wage payments, real-time participation tracking, and avoids double handling of data.
4. Training & support
Ongoing, customised training and support are essential for a payroll platform service to work well for a client. It includes phone and email support, go-live training, and initial training.
5. Easy record keeping
If you’re choosing to use payroll outsourcing services, you want the record-keeping to be easy, with access to self-guided information to implement information at the client's own pace.
6. Accounting & payroll integrations
Bringing all facets of payroll services together for a streamlined process means integrating accounting seamlessly with software such as MYOB and QuickBooks, which companies and known for using as accounting and payroll tools.
- Clients spend less time on bookkeeping, ensuring all the proper deductions are in place and fielding employee queries. A payroll system saves you money long-term with its efficiencies.
- Enabling clients to do business strategically, meaning employee engagement becomes more than just payment queries and more about driving your business forward and building professional relationships.
- Removing ineffective human resources and payroll management approaches leads to low employee morale, higher turnover rates and loss of integrity.
For these reasons, moving forward with a payroll service helps build confidence in those managing wage distribution.
Outsource Modern Payrolling Services To Drive Efficiencies
As a payroll provider, Pay Cat understands that businesses want effective, cost-efficient services that use modern technology to drive workplace efficiencies. We understand that offering solution-based software means our clients will spend less time thinking about provider services and payroll and more on running their business.
A professional payroll provider specialises in the best functionality and compliances using a platform that automates and efficiently pays employees along with other reporting requirements.
By choosing Pay Cat for payroll outsourcing, your business will have access to a suite of payroll solutions, enabling you to concentrate on growing your business through renewed productivity. Are you ready to give Pay Cat payroll services a try?
Get in touch with our team, and let's talk about improving business efficiencies with simple solution-based software.
