Offering the Best Automated Payroll Solution for Businesses

Human civilizations have made an incredible journey from the barter system to bit-coin, one can only marvel over this journey. It cannot be ignored that this journey over the course of centuries has been made by one and only one motivation and that is to integrate technology into everyday business and life. 

Business and technology have evolved from paper to sheets and from sheets to automated systems. This has also not changed overnight; it has been a constant effort with one goal to provide maximum utility to not only the client but also the service provider. It is only fair to provide easy solutions to customers which would otherwise take hours or even days. 

So in this article, we will explore the impacts automated payrolls will have on our business, but first we need to understand what a payroll actually is?

 

What is Payroll?

Remember, back in 7th grade summer holidays when we used to work for the local comic book store getting paid enough to buy an ice cream on the way back and putting the rest in savings?

Remember that, yea same concept but a lot of money involved, freelancers and even employees nowadays are too informed to be misled on payments. Payroll basically is the agreement of payment per hour. It is an agreement through which an employee works for an employer.

 

The Grey Area with Payroll

Now we know what actually is payroll, so why do we need an automated system for payroll processing? The reason for this is that there are a lot of grey areas associated with payrolls from social inhibitions to unclear contracts that need to be addressed and an automated payroll can solve a lot of headaches. 

• • • According to a recent study, it was revealed that every woman makes $0.98 for every $1 a man makes; this might not be a big number, however, with payment by hour a woman is losing $0.02 for every dollar she makes for an hour.
  • • These figures alone are enough to uncover the glass ceiling that “high-jacks” businesses. So an automated payroll addresses this issue and it is no secret that equal pay is not an incentive but a right. Now, this was one of the examples of social restraints that automated payroll not only challenges but also provides a practical solution.

• • • Now let’s jump to another employee who is often unhappy with their agreed fees and payroll is a great way to provide facts. Automated payrolls provide reports so everything is recorded and the apple of discord between teams is dead.
  • Manual data extraction requires a lot of time. It is tedious and strenuous, a combination that no one wants in their life.

 

What Does Automated Payroll Bring to the Table?

So in an era where time and task tracking or employee monitoring apps are the part of the industry now and with remote working in effect. It really makes no sense to not have an automated payroll system because manual payrolls are much prone to mistakes and are a tedious process. 

• • • For employees that are to be paid by the hour. Automated payroll makes life easier for both the employer and the employee as it mitigates any mistakes while preparing the payslips.
  • • Freelancers are in for a huge relief, no more fighting over project prices, and an automated payroll will only help freelancers. They can focus on their work without being worried about total payment.
  • • Collecting data, this is perhaps the most arduous task in the history of finances. The data coming in is not in any single format, converting that data into a readable format is one thing, and classifying it is another. Automated payroll really takes away the pain in data collection and everything associated with it.
  • • There is another blessing in disguise for this automation, no more spending days checking the spreadsheets against the name to validate the data. In short everything strenuous associated with data validation, collection, and payment release has been reduced to knot.
  • American payroll association reports that automated payroll reduces cost on payroll processing to no less than 80%, staggering it means it is almost free. This shows the efficiency of the system coupled with the cost reduction and every smart business owner would want that to happen.

 

Staff Timer App is Ahead of its Time

Now that we have an idea regarding the uses and benefits of payroll automation, guess where it is available? Yes! Staff Timer App aims to become not only user friendly but also to share the burden of the organizations that are overrun with data.

Now with the automated payroll feature, your finance department can take a breather and your efficiency will only increase. Payroll reports are also included. They provide detailed reports not only individually but also collectively. So you remain on top of any issues that may arise from payments and pay agreements.

How to set payroll in your Staff Timer App account?

It is really simple to set the hourly rate in for an employee in the Staff Timer App all you have to do is follow these little steps and your payroll related issues are all wiped from the face of the earth:

1. 1. Click on the ‘Team Members’ tab in the top navigation bar.
   2. Click on the calendar icon displayed on the panel with the name of the team member.
   3. Add hourly rate and click ‘update’.

A simple three-step process that can save you no less than 3 hours at the end of each month. So quit waiting and get the Staff Timer App and make your life easier.

Staff Timer App Automated Payroll Reports

So payroll integrated with the Staff Timer App is a real innovative thing there is a whole lot you can do with it. You can simply go to the ‘Reports’ section of your account back office and see complete payroll reports. Reports can help:

• • • Get the exact billable hours for each employee separately and mitigate all payment related issues. Save precious minutes that you would otherwise spend on making payment sheets.
  • • Automated payroll for freelancers and outsourcing is a really handy tool, you don’t have to keep on checking them for work and you don’t have to pay extra either. The hourly rate only comes in when the member is logged in the app. So a person working with another company will not hustle you for payment.
  • Now with the automated payroll feature our finance department won’t have to go through lengthy summaries and sheets to see the annual increment or collecting detailed reports, with Staff Timer App you can get a detailed report of the Payroll. So instead of manually updating everything, you will have a complete automated record of the employee or employees. It really does streamline a lot of grey areas in finances.

 

The Bottom Line

A study by a Hackett group found out that about 90% of the companies have paperless automation, which means a mere handful are left. It is not beyond imagination that the idea of automation may feel intimidating at first because it includes a lot of factors that a layman is not fully capable of understanding. However, stats disagree and provide only positive factors which include cost reduction and easy data extraction. 

It is always wise to move with the era, you cannot keep on maintaining log sheets and pay registrars in 2020 when everything is increasingly becoming automated, it is only right that you also move in the same direction as the rest of the world.