Can an Online Payroll Service Save Your Company Time and Money?

September 16, 2018

In today’s world, nearly everything is accomplished online – and the business world is no exception. Some business operations can be accomplished effectively outside of an online format, but if you are still conducting your own payroll, you may want to reconsider. Here is how using an online payroll service can save you time and money.

Saving Time

Completing payroll is a complicated and tedious task. Not only does your payroll professional need to manage mass quantities of employee data to ensure that each employee is appropriately compensated, they will also need to constantly adjust for changing accounts of employees, manage differences for bonuses and promotions, not to mention the nightmare that ensues when tax time rolls around.

This headache can be managed easily by switching to online payroll service like Commonwealth Payroll and HR’s iSolved. This program is a trusted and efficient payroll management system used by over 45,000 employers, managing over three million employees.

iSolved is the perfect solution for a disjointed payroll system. Not only is it a streamlined means of storing payroll data, it is also a one-stop shop for HR information, benefits, and time-tracking, saving your company time across the board. Having an organized system to consolidate information could be what saves your company from the time-consuming consequences of mismanaged and disorganized payroll.

Saving Money

iSolved can be a useful tool for managing your existing employee payroll, but it can also help cut expenses in a number of other departments.

On the simplest level, paper stubs are an expense that can be easily removed from your company’s budget. Make the environmentally friendly choice and switch to a paperless payroll option.

On another level, an online payroll service may allow you to relieve some extraneous employees.

Employees are one of the biggest expenses for any company, so it is vital that your staff is comprised of essential members only. By using a system like iSolved, your business has the opportunity to add the program to your existing payroll operations or take advantage of Commonwealth Payroll and HR’s managed payroll services.

By electing to payroll processing outsourcing, your company is no longer in need of a full staff to manage processes like time-tracking, benefits, and pay stubs. Simply fax or email your company’s information to your Commonwealth representative or enter it yourself into iSolved; whether it’s the Commonwealth staff or the automated benefits of iSolved, the work is done for you!

Taking advantage of this online payroll service can also save money lost during onboarding and training – all of which are included in the iSolved system. Your employees will have an online central location to learn about their pay history and benefits, as well a place to update their own information, rather than running it by a full-time staff member.

But don’t worry: you won’t lose the benefits of having a staff member manage payroll by using an online service. By using iSolved, you aren’t just handing your company information over to a computer program. Commonwealth Payroll and HR representatives are experts in their field who are eager to help you with all of your company’s needs.

To find out more about online payroll services, give us a call today at (877) 245-1159 to learn how we can help improve your business.

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