The world of payroll and HR processes can be complicated. The fields of payroll and HR are jam-packed with data, compliance laws, and tax regulations. Thankfully, today’s modern payroll and HR employee has powerful tools at their disposal to help with these complications. That’s where Payroll SaaS comes in.
What is Payroll SaaS?
SaaS stands for “software as a service” and is used when discussing software run entirely online or in the cloud. Cloud-based software solutions are extremely useful tools for small businesses with limited time and manpower.
Payroll SaaS greatly aides in the day-to-day tasks of HR and payroll employees. A powerful Payroll SaaS platform eliminates siloed employee information and feeds multiple sets of data into a single source. Hours flow directly into payroll and mounds of paperwork are a begotten memory; no more manually calculating time cards! By having access to employee data all from a single source, managers and supervisors can easily run reports and generate insightful analytics.
What are the benefits of Payroll SaaS?
A single-source payroll SaaS provides a number of benefits to employers and HR employees. They’ll increase efficiency in nearly every aspect of HR processing while eliminating redundant data entries. This ease in processing allows your team to focus their attention on your employees and clients instead of getting bogged down in needless paperwork.
Let’s lay out some of the best benefits of Payroll SaaS:
Drastically reduce paper processes
Seamless integration across payroll, timekeeping, and benefits
Automatic tax deductions for federal, state, and local regulations
Preview payroll runs to review deductions, check stubs, and potential errors
Mass update employee records
Additionally, a Payroll SaaS allows HR staff and employees to access information from anywhere with an internet connection. Gone are the days of rummaging through old stacks of pay stubs to see how much you’ve contributed to taxes, retirement accounts, and health savings plans.
Curious about other helpful HR tools? Read onward!
Should I be concerned about sensitive employee information?
Nearly all payroll SaaS providers worth their salt provide exceptional data security to their clients. Typical security measures include client verification steps, intrusion detection, external hosting sites, and internal and external firewalls.
There should also be regular backups of data for protection against human-induced and natural disasters. However, in the event of a catastrophic natural event, cloud vendors ensure all data is secure online. Even if your office burns down or becomes flooded, your employees’ most sensitive information remains safe and sound.
Payroll processing can be a high task, but it doesn’t have to be. Check out our definitive guide to processing payroll in Michigan.
We know you might be convinced, but maybe your boss is still on the fence. Learn how to convince them otherwise.
Like any new technological process introduced to an office, the integration needs to be as smooth and painless as possible to get employees off on the right foot. This installation process can be a huge differentiator among payroll SaaS providers.
Take Dominion for example. We provide a dedicated specialist to walk you through as much of the payroll software as necessary to ensure a seamless transition from your previous provider to Dominion. Even at the end of the integration process, our entire service team, from client solutions representatives to account managers will be happy to help with any questions you have. If your interest is piqued, request a demo of our payroll SaaS today!