Technology, properly chosen and deployed, should make life easier. That is the case with the right payroll technology. By upgrading to a modern cloud-based payroll system, you can make life easier for yourself and your employees. Your employees will appreciate a more streamlined experience while you and your payroll staff save time.
A cloud-based payroll solution takes payroll processing off the local network and places it in the cloud. This has many advantages, including giving everyone who needs access to data exactly what they need, in real time. This includes employees. A cloud-based system gives employees access to their personal information, payroll records, W-2 forms, and more.
A Real-Time Employee Portal
Before the era of cloud-based payroll, employees had to make a visit to the HR department whenever they wanted access to payroll information. If the HR department needed to update information, it had to contact workers and bring them in to provide that information. Thanks to modern technology, everything is more streamlined now.
A real-time employee portal is where it all takes place today. The payroll department assigns an account for each employee, an account that can be accessed with a desktop computer, laptop, or mobile device. Employees access their accounts with their individual usernames and passwords.
What can employees do? They can update their personal information at any time. They can check their most recent pay stub for accuracy. They can view and download W-2s at tax time. They can even update their W-4s in order to adjust withholding. All of this can be done without any intervention from the payroll department.
A Single-Entry System
Offering a real-time employee portal definitely transforms the employee experience. It also saves time for the payroll department. How so? By offering a single-entry system that eliminates the need to enter the same data multiple times. Payroll departments start saving time, beginning with the onboarding process.
When new employees are onboarding, they enter their personal data just once. With a single entry, that data is then transmitted across the entire payroll and HR spectrum to populate all necessary records. HR personnel do not have to enter the data then send it off to payroll for it to be entered a second time.
Streamlined Payroll Processing
The benefits of payroll technology do not stop with the real-time employee portal. They continue into the actual payroll process itself. For example, consider a high-tech time and attendance tracking solution that automatically transfers data to the payroll system whenever an employee clocks in or out.
Time is saved at the end of each pay period by software that automatically totals the number of hours worked by each employee. That data is automatically fed into payroll processing software to calculate each employee's earnings and then trigger withholding and tax payments. The data is ultimately used to print pay checks or facilitate direct deposit.
Employees are happier because their paychecks are accurate. Payroll staff are happier because they are not spending time on menial tasks that have now been automated by technology. Company owners are happier because errors are reduced and compliance is assured.
Properly designed and deployed technology is supposed to make life easier. When it comes to payroll, BenefitMall technology does just that. We offer a full range of payroll and benefits administration solutions based on the latest cloud technology. Our solutions are affordable, secure, robust, and just what you need to improve the employee experience and save time.
Want to know more? Let us talk about how BenefitMall can streamline your payroll and benefits administration with cloud-based technology.