Don’t waste your time when there are solutions readily available to help you save time and even money.
Payroll automation can solve the pain points many management teams face day in and day out. From scattered emails and multiple timesheets to sending hundreds of paper checks, payroll automation simplifies payroll and time tracking so that managers can focus on what matters most.
Time management is tricky, but by eliminating mindless tasks that software can do will only help your team. Discover all the ways integrating payroll automation into your workforce management toolbox can save people in management time and decrease the overwhelming job of tracking labor.
How payroll automation saves time
Sure, saving money and time sounds great, but how does payroll automation really do this?
This software accomplishes this by having unique capabilities that take the manual labor out of tedious tasks. Check out the 9 reasons why payroll automation helps managers stay organized and productive in the age of digital transformation.
1. Calculates employee’s hours
With many employees for managers to keep track of, it’s difficult to determine who is working when. With payroll automation, time tracking data is directly imported into the software and then calculates the total time worked. It also calculates overtime, double-time, commissions, bonuses, wage deductions, and reimbursements.
Some software is mobile friendly and allows employees to track their time out of the office, making it simple for managers to focus on bigger projects and fostering talent on their team.
2. Tracks paid and unpaid leave
It can be tremendously time-consuming to know who took paid time off (PTO) or who is taking unpaid leave. Not knowing this information can cost your company thousands of dollars as you’re paying people not to work. Or you’re missing an employee for an extended period of time.
Managers should not have to track down who is taking paid and unpaid leave, so the payment automation technology does just that so you can take that time to find and train someone else to take on the responsibilities of the person out of work.
3. Eliminates manual calculation errors
It is crucial for payroll to be accurate. Manually calculating every employees’ pay is a time suck and leaves room for critical errors to take place. Accounting software is dependent upon accurate entries. If the numbers entered in the system are not correct or up-to-date, then miscalculations occur.
Payroll automation systems work with accounting software to automatically input numbers based on the hours collected.
4. Ensures compliance
Tax codes change and are difficult to keep up with. Payroll automation systems automatically update all tax codes so that you have a reduced compliance risk.
Tax season is usually stressful for people who deal with payroll systems, but with the right tools, like payroll automation, you can be sure the correct amount is being withheld from both the employee and employer.
Avoid trouble from the IRS and make sure your compliance audits go smoothly, or else you may be facing bigger problems than just not having enough time.
5. Stops wasting paper
Businesses used to depend on paper. Paper timesheets. Paper notes. Paper checks. Paper documentations. But that type of waste is no longer.
Everyone knows that wasting paper is bad for the environment, but it also adds to disorganization and lost productivity.
Payroll automation puts schedules, timesheets, and payments into paperless documentation for employees and employers to manage all in one place without the waste.
6. Follows employee’s routes
Offsite workers, like those who work in construction, use payroll systems to track their hours and get paid remotely. It takes the guessing work out of where your employees are or were. Some payroll automation systems have GPS locations installed within the software so that you can see the exact time they arrive on-site and leave.
You can even go back in time to see where your employees were if there was a miscommunication or if you think someone is not being honest. Dishonest employees round-up and cause a large amount of money to be wasted.
Following employee routes may seem like you’re being a helicopter parent, but it’s better than getting tricked out of money and wasting time on trying to figure out who’s being honest.
7. Enables simple scheduling
Not only does payroll automation track employee’s hours, but it also allows managers to set up schedules and share them with employees. You can even put in job task details so that there everyone knows their role in the project.
Employees can click on schedules to find the address of their next job, or they can know where their fellow employees are with the click of a button. Being able to see a schedule in one place can also help with allocating nearby resources if one job finishes before another. Both employees and managers can be more productive and efficient in their day-to-day with simple scheduling.
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8. Integrates with other software
The best payroll automation systems integrate with other accounting software, which allows information gathered on the payroll automation system to show up in the accounting software. This integration allows managers to finish payroll at a fraction of the time it would take to do manually.
Instead of working reactively because you don’t have time to address team issues as you spend it going back and forth between software systems, you can begin working proactively.
9. Allows for quick reporting
With Payroll Automation software, you can calculate reports with more ease. The data is consistent and accurate, you can create insights from the data, and the breakdowns are easy to understand with clean data reports. This helps with running high-level summaries on larger jobs to see where the money is going and how much money is coming in.
Analyzing clean data makes it easier to draw valuable insights for senior leadership. If your company creates meaningful insights, it will be able to solve problems more effectively.
There’s nothing worse than wasting time on tedious tasks that could be avoided with the right system. It’s time to take your own time seriously and invest in payroll automation that will help your productivity skyrocket and drive revenue.