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How Small Businesses Can Benefit from Cloud Payroll

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Cloud computing is the next big thing in the world of business and technology. Much like how Microsoft Office became a boon for companies of all sizes everywhere, cloud computing may serve as another major component to the success of a firm.

Every tech blog, every tech magazine and every newspaper with a business or technology section will tell you that everyone and everything is going to the cloud. Data, corporate operations and finances (cash flow, online personal loans, debt, sales, etc.) are being transferred to the cloud everyday to streamline operations. And yes this does include payrolls, too.

cloud hostingToday’s generation of small businesses and startups are pondering the question: should we transfer our payrolls to the cloud? This is a difficult question to answer, and one that will vary from each person you talk to. It seems everyone has their own opinions on cloud computing.

A report from Software Advice released earlier this year found that adoption rates for cloud-based payroll solutions are surprisingly low. The biggest concern over implementing such a payroll solution is due to digital security.

The report discovered that 24 percent of small and medium-sized businesses use cloud-based payroll software, while more than two-thirds (69 percent) say they’re confident in the security measures employed by the software. Also, a majority of survey participants conceded to following the rudimentary security features, like security training and two-factor authentication.

Indeed, payroll has dramatically changed over the past 20 years. Payroll was performed by a specific department primarily by hand. The transformation has been like this: punch card to miniature computers to PCs to the cloud.

Companies that have embraced cloud payrolls have already seen their costs go down. Whether it’s fixed costs predictions or more storage space at the office, professionals are espousing the virtues of cloud-based payrolls.

Linda Woolley, president of Nortek Solutions, identified the fact that businesses do not need servers, computers or even heavy air conditioning.

“There are no computers, there’s no power consumption, there’s no server rooms, there’s no heavy air conditioning, there’s more freed up floor space,” Woolley told the Canadian Payroll Reporter in Nov. 2012. “One could say, ‘Well, you’re just moving the serv – ers from in-house to the hosting provider.’ That’s true, but these companies… it’s their business to get the most efficiency possible out of their servers. You can be sure their utilization of their hardware is much more effective than any one in-house.”

A lot has transpired since that interview. Cloud computing is a lot safer than it was and businesses have become proactive in their security conditioning. Business and finance experts present the case that verification of third-party applications and systems are also imperative aspects to ensuring your move to the cloud is a successful one.

The simplicity of payroll operations is likely the most beneficial element for both the worker and the owner. One simply has to access a cloud subscription service, log in and confirm any changes that have been made, and this can be achieved on a computer or on a mobile device. Can it get any easier?

Perhaps with technological advancements all the time, payroll will undergo another facelift.

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The Benefits of Taking Small Business Payroll Services

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It is important for a company to pay wages to its employees on time every month because this helps in maintaining employee satisfaction and motivation. However, if you are the proprietor of a small company and finding it very difficult to provide reliable payroll services because of changes in tax laws, personnel changes and deadlines, you must consider taking small business payroll services from outsourced payroll companies. This comes as a boon for your business success because when you do not need to deal with the stress and the hassle of payroll account on monthly basis, you get the time to concentrate on the other more productive sections of your business. Some of the main advantages of using the dependable services of payroll outsourcing companies are as follows:

Small Business Payroll

You do not Need to Invest in Getting Payroll Software

If you are successful in outsourcing different aspects of payroll account to a Small Business Payroll company, it eliminates the need of investing in the latest payroll software required for work. Apart from this, it will also eliminate the requirement of using staff members for learning and operating the complex and the tome-consuming software packages.

Efficient and Simple Scalability

You will find it very easy to make certain changes to your existing payroll and even include new staff members when using managed payroll services. professional payroll companies provide a range of different services which include dealing with reassigning tasks, lay-offs, and unemployment insurance. professional payroll services also possess the ability of taking care of problems in relation to health or retirement plans, holding contributions and necessary statutory holdings.

More Concentration on Main Business

The procedure of completing the entire payroll for a small business can take approximately ten to twelve hours. There is even more time required for completing each pay date. Therefore, it is highly desirable to use this time in focusing on some other important and productive sections of business. Making the effective use of outsourced payroll services comes as an opportunity to use employee time which can further be used in improving productivity. This free time can also be used for solving business related problems.

Flexibility in Payment Options

Payroll services generally provide a choice of easy and convenient options of payment. These can either be related to paying undeviating deposits in the accounts of the employees or delivering paper checks on a particular day of the month. This comes as a great money and time saver for small business owners. In conclusion, it can be said that there are a wide range of advantages available in shifting small business payroll service to an outsourcing company. It gives you the flexibility of using your precious time in concentrating on the core features of operating a business in a successful manner. The effectiveness and the simplicity of various payroll services helps small businesses to quite a considerable extent and this is something that is highly appreciated by small business owners.

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Choosing the Best Corporate Payroll Services

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Almost every corporate businessman and owner might be able to tell you that completing payroll is an expensive and a time-consuming procedure. It is only because of this reason that large companies take the help of corporate payroll services for calculating payroll taxes. Taking the services of a payroll calculating company can serve as a time and money saving option.

Corporate Payroll Services

Why take the Help of Corporate Payroll services?

Taking the help of corporate payroll services will not only help you in saving paperwork, but will also save you from the headache of going though the mandatory procedure of complying with all the state and federal regulations and rules in regards to the different types of withholding. Here, it is important to note that there are various other kinds of withholding apart from the ones legislated at the state and federal levels. You might also come across withholdings for reasons like benefits. Apart from this, there are certain withholdings on state and federal levels that do not apply to all the employees. One example of this type of withholding is the child support garnishments. In a compact and conclusive manner, it can rightly be said that it is usually better to take the help of payroll services especially if you own a corporate business.

The Procedure

The procedure used for calling in the payroll information might vary depending on the type of Payroll Company that you choose. Here are some companies that will give you the flexibility of setting up a kind of automatic notification mechanism. This would obviously serve as a very convenient option for you. This is something that will help you in beating the necessity if calling in specific numbers during every pay period. In the end, the most important point behind getting the services of a payroll company is actually assisting you in saving the precious time of your employees and even yours. You would not be able to save quite a lot of your precious time if you would have to call in the number particularly during each scheduled pay term. This is something that is very important to look out for in a payroll company.

Making the Correct Decision is Important

It is extremely important for you to make the right decision when it comes to choosing the best Corporate Payroll Services. This is because the company that you will be using to see through your payroll structure will have complete access to sensitive and important information in regards to your business. Therefore, it is considered an effective rule of thumb to try the services of four to five different payroll companies prior to making the final choice. Trying the services of a payroll company means getting the details about the companies; their work procedure and their performance record. Another important thing that you need to find out is whether the companies provide their clients online access or not. You must also make it a point to know whether the companies offer any direct deposit capability to their clients or not.

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