We have been helping New Zealand employers and payroll managers like you for over 30 years through our payroll companies Comacc The Payroll People (Sold to MYOB . Now Exo), our payslip business- Just Payslips and now our employee time and attendance applications - TimeHub and MyTimesheets.
As a New Zealand small business owner who employs staff, there are many things that should consider when selecting a new payroll system to help you manage this mission-critical part of your business.
Here are a few of them and why they are important:
Compliance with New Zealand payroll laws and regulations: It is important for the payroll system to comply with New Zealand payroll laws and regulations to avoid fines and penalties.
Integration with existing accounting, bookkeeping and timesheet systems. Integrating the payroll system with existing accounting, bookkeeping and timesheet systems will help the business to streamline its financial processes and reduce errors.
Ease of use and user-friendly interface: A user-friendly interface will make it easy for employees to use the system and reduce the risk of errors.
Automation of payroll processes and calculations: Automation of payroll processes and calculations will save time and reduce errors.
Data security and privacy measures: It is important to ensure that the payroll system has proper data security and privacy measures to protect sensitive employee and company information.
Reporting and analysis capabilities: The ability to generate detailed reports and analyze payroll data is important for decision-making and compliance.
Scalability to accommodate future growth: As a business grows, its payroll needs will change. It is important to choose a system that can scale to accommodate future growth.
Support and customer service availability: It is important to have access to support and customer service in case of any issues or questions.
Cost and pricing structure: The cost of the payroll system and pricing structure should be considered in relation to the business's budget and needs.
Flexibility to meet the unique needs of the business: Each business is unique and it is important to choose a system that can be tailored to meet the specific needs of the business.
What are the main benefits of selecting a cloud-based payroll solution:
Accessibility: Cloud-based payroll solutions can be accessed from anywhere, at any time, with an internet connection, making it easy for employees and managers to access payroll information and approve timesheets.
Scalability: Cloud-based payroll solutions can easily accommodate the growth of your business, with the ability to add more users or increase storage as needed.
Automation: Many cloud-based payroll solutions offer automation of tasks such as pay calculations, tax deductions, and reporting, which can help save time and reduce errors.
Data Security: Cloud-based payroll providers typically have strict security measures in place to protect the sensitive data of your employees and your business.
Cost-effective: Cloud-based payroll solutions typically have lower upfront costs, and the monthly or annual fees are usually more affordable than on-premise solutions.
Integration: Cloud-based payroll solutions can easily integrate with other software and systems, such as accounting and HR systems.
Data Backup: Cloud-based payroll providers typically have regular data backups in place, which can provide peace of mind in case of data loss or system failure.
Software updates: Cloud-based payroll providers typically handle software updates and maintenance, which can save your business the time and resources needed to manage these tasks.
Remote working: With a cloud-based payroll solution, you and your employees can access payroll data even when working remotely.
Good support: Good support is crucial for a cloud-based payroll solution. It is important to have access to customer support and training options to help you and your team get up to speed on using the new system, and troubleshoot issues that may arise. Good support ensures that your payroll system is running smoothly and that any issues or concerns are addressed quickly and efficiently. A good support team can also provide valuable guidance and advice on how to best use the system to meet the specific needs of your business.
These are just some of the factors you should consider. There will be other technical, functional and compliance-related factors that you should investigate thoroughly.
The most important advice we can give you is to make sure you are systematic in your assessment of both your needs and the capabilities of any system you consider so you can ensure you a "selecting a system" and not being "sold a system".
One of our core services is assisting you with the selection and implementation of a new Cloud Based Payroll Solution.
Anyone who has ever managed payroll for a company of any size knows that it can be a stressful and time-consuming process. One which impacts every person in the company.
Choosing the right payroll is critical. We can help with this.
Rather than us telling you what we can do, we prefer to find out what you need, and what challenges you are having.
So if you looking to move from a PC-based payroll into the cloud or you are not 100% happy with the payroll software you are using, talk to us today about what you are looking to achieve and we will recommend a solution. This discussion is confidential and there is no obligation.
You can book a time to chat with me by grabbing a time directly in my diary here
or by emailing steve@timehub.co.nz
or by calling 06 6507297 or 027 4980086
