We (Red Wing Software) asked AI (Artificial Intelligence) to generate a list of the ten best ways to streamline payroll. With the answers generated by AI, we provided our responses to their recommendations from the standpoint of how our payroll software, CenterPoint Payroll, compares. Each AI answer is numbered and in bold, and our corresponding answers are beneath each one.
Automate data entry and ensure accuracy.
Automation is so top of mind these days, and there are increasing numbers of payroll programs that make it easier to automate payroll data while ensuring accuracy. Here are just a few ways CenterPoint Payroll accomplishes this:
- Payroll Kiosk: Employees enter time clock information electronically via a shared tablet.
- Online Time Entry: Employees enter time worked and time off using an app on their phone or any internet-connected device.
- Online Pay Stubs (“Advices”): Employees view pay information securely and electronically.
Utilize dedicated payroll software or services for fast, efficient processing.
Having a payroll system that was specifically designed to fill your organization’s needs is imperative for the payroll process to run smoothly. Finding a system that is dedicated to your business needs will pay off big over time, since processing time and errors are reduced every time you run payroll. CenterPoint Payroll is highly customizable to suit the needs of nearly any organization, and our team will assist you in determining whether it will work in whatever way you need it to work. We also don’t do high-pressure sales and only want you to become a customer if we have a great fit for you.
Keep current with laws and regulations related to payroll taxes and deductions in your area.
Remember, AI came up with this list, and most of us humans are aware that the bulk of payroll software systems and services either handle the taxes and the tracking of payroll deductions for your business or they include features that can handle it within the system. Here are some of the more notable things to look for in a system since some payroll systems don’t include them. (CenterPoint includes all these features.):
- Tracking local taxes.
- Automatic updating of tax tables.
- Choice of printing tax forms or filing them electronically.
- Custom and unlimited earnings/deductions.
Leverage cloud-based technology that enables remote access from any device anytime.
The offering of cloud-based payroll systems has been revolutionary for those who need it. The cloud offers freedom from being stuck in one location, along with many other benefits. Most payroll systems offer a cloud-based software option. At the same time, there are many employers that still prefer their payroll system locally installed, mainly for the control they retain of their own processes and information. CenterPoint Payroll is unique in that it offers the option of choosing either the cloud or locally installed, and the program is the same.
Use a direct deposit system that allows employees to receive their paychecks faster without waiting for physical checks or dealing with paper documents associated with manual processing systems.
Printing paychecks has become old-school, and receiving payment via direct deposit is now mainstream. Employees can have pay deposited directly into their account, and then receive the pay stub electronically, eliminating the need for paper. Most payroll systems offer this option, and CenterPoint Payroll does too, as well as offering a completely paper-free payroll.
Streamline employee onboarding processes using digital forms that can be integrated into the existing payroll system.
Many payroll systems are adding more HR-type features, including Onboarding, which can help organize the forms and processes a new employee needs to complete. CenterPoint Payroll keeps track of some forms and training, can provide links services provided to the company/employee through a portal, and is researching adding more onboarding features in the future.
Provide individuals portals where employees can update their profile information, review paycheck details, view benefits summaries, etc.
An employee portal for payroll is a great way to grant employees access to their pay information, and the capability to edit their personal information. This can save time and frustration on the part of employees since they can easily view and edit some information without having to ask someone and wait for a response. It can also streamline the job of the person processing payroll. CenterPoint Payroll offers a portal where employees can access and edit their personal and pay information, like W4s.
Implement an automated payment system, so payments are made on time every month while avoiding late fees and other penalties due to delays in receipt of funds or incorrect payment amounts being sent out.
By using a payroll service, a company expects to have their tax/liability payments made for them on their behalf in a timely manner. This is probably the most important reason people give for wanting to use a payroll service, instead of handling the payments internally with the help of a payroll system. On the other hand, some companies prefer to keep control of making those payments themselves. CenterPoint Payroll enables payroll processers to generate the necessary tax/liability payments, and users can even set reminders for themselves within the system.
Ensure all parties involved have access to necessary documentation like tax papers, declarations, etc., digitally stored somewhere safe & secure.
Some payroll systems allow for storing documents like tax papers and more within the payroll system. CenterPoint offers the ability to scan and attach documents to fields within CenterPoint Payroll, so they are available when needed.
Encourage mobile use by offering mobile apps that enable workers to get paid on the go, track working hours remotely, submit expenses quickly, etc.
Most payroll systems provide tools that allow employees to view and manage their pay information remotely, whether it’s the entry of time worked or time off, viewing/editing tax and paycheck information, and much more. CenterPoint also allows for this, having released an online time clock, time entry kiosk, employee portal, and more.
To learn more about CenterPoint Payroll and how it can help streamline your business, please visit www.redwingsoftware.com, email sales@redwingsoftware.com, or call 800-732-9464. Sign up for your free demo at this link: CenterPoint Payroll Demo.