Paychex Offers Three Tips to Maximize Your Business' Payroll Operations
As a kick-off to National Payroll Week, celebrated nationwide September 1-5, 2014, Paychex, Inc., one of the nation’s leading providers of payroll, human resource, insurance, and benefits outsourcing solutions for small- to medium-sized businesses, offers three key tips for maximizing your business’ payroll operations.
While the traditional benefits of outsourcing payroll – saving money, reducing errors, enhancing security, and providing you with more time to run your business – still exist, in today’s climate, improving technology and streamlining operations offer business owners even more opportunity for flexibility and efficiency.
“National Payroll Week is an ideal time for business owners to take a closer look at how they process their payroll and evaluate potential new opportunities, thanks to enhanced technology,” said Martin Mucci, president and CEO of Paychex. “A small business’ partnership with a world-class payroll provider, such as Paychex, takes a cutting edge and streamlined approach to payroll, and depending on their needs, benefits and HR services, making for a more efficient back office.”
Here are three tips to maximize your business’ payroll operations:
Thanks to advances in mobile technology, employers today have the opportunity to offer their employees information on-the-go and at their fingertips. Continuing to handle payroll efforts in-house hinders or eliminates this option altogether. Electing to outsource payroll allows business owners to take advantage of a vendor’s mobile capabilities, without the worry and cost of developing and maintaining an internal application. Mobile apps, such as Paychex’s, offer employees easy access to pay stubs, W-2 forms, direct deposit information, and 401(k) and benefits information, all with a single sign-on at any time. Granting mobile access to employees saves valuable time and helps minimize paper consumption.
Navigating employee benefits and 401(k) processes can be daunting, but payroll vendors offer integration solutions to help ease the burden. Integrating employee benefit and retirement plans with payroll services not only saves time and effort, but it ensures that contributions are transferred correctly and recording plan data is complete and accurate. In addition, given the current regulatory environment where employer obligations change at a rapid pace, integration gives the business owner peace of mind.
Small business owners have enough to worry about when it comes to everyday business operations. Payroll does not have to be one of those worries, as outsourcing creates automation in the business process. Automation minimizes inefficiencies and eliminates the need for handwritten checks, in-house bookkeeping, and paper employee time cards, along with streamlining direct deposit processes in order to save employees a trip to the bank.
For more tips on how to maximize business operations through outsourced payroll, HR, and benefits operations, visit www.paychex.com.