Author: Ian Hurst — Managing Director, Paymaster People Solutions
The past — What might the typical legacy payroll costs include?
- Payroll software annual licence-fee
- Payroll software support contract
- Payroll software maintenance contract
- Printing cost of payslips
- Paper cost for contracts and all other documentation
- Staff salaries
- Staff benefits
- Licences for support software
- Bank transfer costs – net salaries
- Bank transfer cost third party payments
- Rental of office space (to accommodate a significantly sized payroll team)
Were you able to generate an approximate calculation? If so, divide your answer by the number of employees you have. What are you left with?
Now let’s add the following to the figure you are left with…
- The cost of mistakes — For example, when an employee is paid a certain amount, but which was incorrect (and perhaps they should not have been paid at all).
- The cost of “lost focus” — Stopping to do something equally important because it is payroll time, or forgetting to sending out invoices because they were processing salaries. — For example, when your debtors clerk forgot to process the salaries because he/she was preparing and processing the company’s invoices.
- A mistake because your payroll software was not updated, resulting in incorrect tax deductions — leaving you liable for a SARS payment penalty; which is particularly relevant, especially with the SARS Employment Tax Incentive (ETI) scheme)
- The cost of re-running your payroll because some line-managers were unable to meet their salary and wages submission deadlines.
- The cost (in wasted time) of looking for documents that weren’t filed correctly — which may now be lost.
Your future — What might your new and improved modern payroll costs include?
This is how the Paymaster People Solutions payroll solution is guaranteed to save you time and money…
- All your payroll data will be saved in the right format. Additionally, all your organisation’s data-collection will be automated, thereby eliminating the need to await information which would ordinarily be manually submitted from employees’ respective line-managers.
- You gain the ability to import all your payroll data, once — and once only. No repetitive time-wasting tasks.
- You acquire the super-efficient employee self-service functionality — So there will be no more printing of payslips and capturing of leave.
- You benefit from the handy “compare payslips” function — make comparisons on-the-fly (no fuss, no time wastage).
- You gain access to leave calendars that are share-able amongst all staff.
- You benefit from the super-efficient automated claim processing engine.
- Your staff team benefit from comprehensive training and education (relating to the use of the Paymaster People Solutions payroll software system).
- You invest in peace-of-mind from the automated online updates and backups.
- You save (and Go Green too) with paperless business processes — No more filing of hard-copies!
- You get the cherry on top: You received an automatic coffee machine to keep your payroll staff sufficiently caffeinated, happy and smiling. J
Does this make you smile? You can always talk to Paymaster People Solutions — We will show you exactly how your use of our payroll software will save you money.
Get a free instant quote by clicking here.
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