17 Aug Aspects To Consider Before Choosing A Payroll Solution
Having an efficient payroll system is pretty critical to your business’s operation. There are actually many different ways a payroll system can help make your business operations a lot smoother. The good news is that there are a few different options available to choose from, but you will have to do your research and find the best one for you and your business.
One of the options that many people choose to move forward with is MYOB Advanced. This is a popular option because of all the different ways this solution can help you. Having the right payroll solutions in place is particularly critical in larger businesses, and those who have offices internationally because it will help ensure you are tax compliant in each country.
So, before you finalise your decision on the type of payroll solution you wish to move forward with, make sure you have a read on below at some of the important aspects to consider:
It is important to think not only about your needs as a business now but also in the future. You probably don’t want to be chancing payroll solutions in the future, so think about where you are hoping your business will go. There are a few payroll solutions out there that have the ability to grow and expand as the business does.
Get Assistance From Finance
It is important that you get assistance from your finance department to help you make the best decision for your business. If you have someone who is skilled in payroll, like a payroll officer for example, that would be even better.
They can offer unique insights into the needs of the business. As well as this, they are the ones that are going to use the system the most often, so you want them to be on board with the choice you have made.
Invest in Training
If there is a brand new system in place, you are going to have to make sure the employees know how to use it properly. When employees know how to use the system properly, they can ensure no issues slip through the cracks and things are done in a timely manner.
Be Realistic With Set Up Time
It is going to take a fairly sizable amount of time to get this solution set up properly, and this is certainly something you want set up properly. Generally speaking, it can take up to around three months for full implementation, or even longer. Make sure you allow for enough take for proper set up, the foundations are very important to get right.
Long Term Investment
It is important that you consider this as a long-term investment, and while there will be upfront and ongoing costs, if you consider this investment over an extended period of time, there will actually be a return on your investment. A payroll solution can help you save money in a number of different areas and help streamline the payroll process.
See How Configurability Works
A number of different payroll solutions will offer configurability, to ensure that you get the best solution for your individual business’s needs. Configuring your payroll solution will help you improve productivity as well as accuracy.
However it is important that you don’t take this too far and end up with significant amounts of customisation. Too many customisations can lead to many issues down the line, especially when it comes to potential updates in the program that need to be implemented later. There is always a healthy balance to work with when it comes to payroll solutions.