Benefits of SaaS-based Payroll System for Small Businesses
With SaaS-based payroll system, the small-business owners have better access to payroll information, improved efficiency and reduced expenses. SaaS means Software-as-a-Service in which all the information is stored on a remote server which can be accessed by using proper credentials over the Internet. Many small businesses are relying on this payroll solution to streamline their payroll processing in every pay period.
By SaaS-based solution, the businesses will not have to spare out amount for maintenance and software upgrades. Although there are many benefits, but some of the benefits of taking SaaS-based payroll solution for your small business are:
1. Access to important information anytime by using desktop, mobile or laptop
2. Employees can access their paystubs at anytime and from anywhere to make changes in deductions, withholding, or contact information.
3. Employees can make other changes like payment delivery options, direct deposit account number etc.
4. Email alert to employees for accessing their tax information online and file their year-end tax returns as per Federal, State, and Local governments.
5. All the information is stored on the server, which eliminates the need to store and share information via paper.
6. The checks can be sent through direct deposit, which eliminates the need to waste time in printing and distributing checks to the employees in each pay period.
7. Eliminates the need to make visits to the accounts and administration department for previous payroll details.
8. Eliminates the risk of data thefts as it is stored in a secured encrypted server
9. Unburden the in-house employees to look for a information in stacks of pay stubs and tax forms
10. Pay and file payroll taxes as per Federal, State and Local government regulations
Online payroll system is a new and advanced form of outsourcing payroll services especially designed for small businesses. Therefore, they are offered at a low monthly fee to make it affordable for every owner.
If you are a small-business owner, you can free up your valuable time for core business functions that can help in improving productivity and output of the business. Moreover, you will be able to keep your employees satisfied by providing them accurate and timely payroll solutions. The satisfied and happy employees in turn will work enthusiastically, perform better and improve profitability of the company.
So, don't hesitate in contacting few online payroll companies and compare their features and services to make the final deal for your business.
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