July 27, 2018

Perks of Paperless payroll

Perks of paperless payroll

When it comes to doing the best you can for the environment while also building a successful business, sometimes the key is to find areas were you can cut out the use of paper. Payroll is definitely one of them.  Paperless payroll offers plenty of benefits that will not only help the environment in the long run, but also help the overall image and bottom line of your business. Just take a look. 

The perks of paperless payroll are pretty infinite.  

As we look toward more sustainable ways of living on a global scale, paperless is definitely the way to go. 

Payroll is among the top backend business functions that can take up a lot of paper. Going paperless can not only make your business more environmentally friendly, but it can also help you save on your bottom line.  

1.Cost saving

It's easy to take for granted just how much money we spend on paper every single day. 

But the fact of the matter is that businesses spend thousands of dollars on paper every year. If you're looking for way to cut down on cost, paperless payroll is definitely the way to go.

According to the American Payroll Association, businesses that switched to paperless payroll saved an average of $2.87 to $3.15 per pay run. 

Businesses also saved money on reissuing lost or stolen checks, which can cost about $8 to $10 per replacement check. 

2. Hassle-free

In today's fast-paced, web-based world, paper can just weigh you down. 

In fact, one of the perks of paperless payroll is that it saves a lot hassle in the long run. Here are some of the ways it can make life a little easier:

  • 1
    Pay is alway available on-time regardless of holidays
  • 2
    Employees no longer have to fuss with manual time cards; plus, intergrated time clocks and time management systems ensure that all time logged is accurate
  • 3
    Employees have quick and easy access to their pay stubs, w-2, etc. online or on a mobile device
  • 4
    Fewer errors
  • 5
    Tax filings and payments are automated 

3. Easier access to employee data

If your company has an in-house HR department, you're probably familiar with how much paperwork comes with the territory. 

And you know how much time and effort it can take to track down employee information when you need it. 

Paperless payroll eliminates that problem because all pertinent information about your employees is available in once place: the cloud.

More importantly,  cloud based system are secure and allow you with access to that information at any time from almost anywhere. 

Out of all the perks of paperless payroll, the real holy grail is that it will save  you and your employees time, money and effort while also helping your business grow sustainably — and that's something everyone can agree is good business. 

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Felix Mwania

I live in the intersection of technology and entrepreneurship. I am a technology enthusiast but my passion is helping small businesses succeed, including mine.

When I am not working, you will find me goofing with my wife and kids. When not with family and/or friends, you will find me doing some home improvement projects.

Felix Mwania


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