It used to be that payroll management consisted of one lady with cat eye glasses, an abacus, and a prayer. Then a few very smart people got together and discovered a payroll solution that involved a computer or two, and the rest is history. Today, payroll software for multiple companies, business types, and locations has become the norm in payroll service. This is especially true if you are a small business. We are confident that if you research payroll software for multiple companies both here and outside the U.S., you will discover that most of these companies are very similar to you. This is because outsourcing or digitizing your payroll software is:
1. A Cost Saver
Bigger businesses can probably afford the overhead of a seasoned accountant, but if you’re a small business owner or you’re just starting out, you probably started Googling “payroll software for multiple companies” the minute we threw that phrase out there. Outsourcing your payroll and human resources departments can be a huge marginal cost saver especially during busy seasons for your business or the dreaded tax season. This is because usually companies like yours, those with 50 employees or less, can’t afford to spare anyone pulling double duty out of their comfort zone. This is especially true with payroll because the fines and penalties for making a mistake especially when they involve an international worker can be punitive.
2. A Way To Keep Your Distance
You’re the boss, which means you already have enough to worry about without dealing with inter-office disputes, HR problems, and political squabbles about pay and fringe benefits. Outsourcing your payroll and HR can help you keep your distance by putting an intermediary between you and your employees. Furthermore, if you put trained professionals and computer formulas at the helm of your payroll services, you’ll go a long way towards achieving benefit number three…
3. Stream Lining
Often, tensions between employees and their organization result from non-standardized hiring, firing, and payment practices. Getting your payroll system online and keeping HR a specialized, outsourced service will help you achieve a consistent method of operations, which will in turn free you up to think bigger, make money, and do more.